MEG Energy Corp. announced the pricing of its previously announced offering of US$600 million in aggregate principal amount of senior unsecured notes. The notes will bear interest at 5.875% per annum and are due in 2029. MEG intends to use the net proceeds of the offering, together with cash on hand, to redeem in full US$600 million in aggregate principal amount of its 7.00% senior unsecured notes due March 2024 , and to [...]
All financial figures are in Canadian dollars and all references to barrels are per barrel of bitumen sales unless otherwise noted MEG Energy Corp. announced today its preliminary estimates of expected ranges of certain financial and operating data for the three months and year ended December 31, 2020. The table below presents management's preliminary estimates, based on the information and data currently available to [...]
MEG Energy Corp. announced today that, subject to market and other conditions, it plans to commence a private offering of US$600 million in aggregate principal amount of senior unsecured notes due 2029 . MEG intends to use the net proceeds of the offering, if completed, and cash on hand to redeem in full its US$600 million aggregate principal amount of 7.0% senior unsecured notes due March 2024 , and pay fees and expenses [...]
All financial figures are in Canadian dollars and all references to barrels are per barrel of bitumen sales unless otherwise noted MEG Energy Corp. announced today its 2021 capital investment plan and operational guidance. Highlights include: 2021 capital budget of $260 million, expected to be fully funded within internally generated 2021 cash flow; 2021 production guidance of 86,000 to 90,000 barrels per day ; and 2021 [...]
All financial figures are in Canadian dollars and all references to barrels are per barrel of bitumen sales unless otherwise noted MEG Energy Corp. reported its third quarter of 2020 operational and financial results. MEG continues to proactively respond to the safety and financial challenges associated with the COVID-19 pandemic and remains committed to ensuring the health and safety of all of its personnel and the safe [...]
Third Quarter 2020 Release: October 26, 2020 after market close Conference Call Details: October 27, 2020 8:30am ET / 6:30am MT Due to high call volumes, it may take more than one attempt to connect. Please dial in early. Dial-in Numbers: Toll Free: 1.888.390.0546 International: 1.416.764.8688 Replay: For those unable to dial-in to the conference call, an archived version will be available by 2:00pm ET / 12:00pm MT on [...]
MEG Energy Corp. reported its second quarter 2020 operational and financial results. MEG continues to proactively respond to the safety and financial challenges associated with the COVID-19 pandemic and remains committed to ensuring the health and safety of all of its personnel and the safe and reliable operation of the Christina Lake facility. "The second quarter was characterized by extreme negative movements in [...]
Second Quarter 2020 Release: July 27, 2020 after market close Conference Call Details: July 28, 2020 8:30am ET / 6:30am MT Due to high call volumes, it may take more than one attempt to connect. Please dial in early. Dial-in Numbers: Toll Free: 1.888.390.0546 International: 1.416.764.8688 Replay: For those unable to dial in to the conference call, an archived version will be available by 2:00pm ET / 12:00pm MT on July 28 [...]
MEG Energy Corp. is pleased to announce that at its annual and special meeting of shareholders held on June 17, 2020, each of the ten nominees listed in its Management Information Circular dated May 5, 2020, were elected as Directors. The results of the shares voted in respect of the election of each director are set out below. Nominee Votes For Votes Withheld # % # % Grant D. Billing 198,915,650 99.97% 68,978 0.03% Ian [...]
MEG Energy Corp. reported its first quarter 2020 operational and financial results. MEG continues to respond proactively to the safety and financial challenges associated with the COVID-19 pandemic. "We are committed to ensuring the health and safety of all our personnel and the safe and reliable operation of the Christina Lake facility" said Derek Evans, President and Chief Executive Officer. "The current business [...]
First Quarter 2020 Release: May 4, 2020 after market close Conference Call Details: May 5, 2020 8:30am ET / 6:30am MT Due to high call volumes, it may take more than one attempt to connect. Please dial in early. Dial-in Numbers: Toll Free: 1.888.390.0546 International: 1.416.764.8688 Replay: For those unable to dial-in to the conference call, an archived version will be available by 2:00pm ET / 12:00pm MT on May 5, 2020 [...]
All financial figures are in Canadian dollars and all references to barrels are per barrel of bitumen sales unless otherwise noted MEG Energy Corp. announced today a 20% reduction in its 2020 capital program to $200 million from the original $250 million budget announced November 2019. Capital Program Reduction and Guidance Update Due to the recent significant degradation in global oil prices, MEG is reducing its 2020 [...]