Last C$21.55 CAD
Change Today +1.24 / 6.11%
Volume 1.2M
MEG On Other Exchanges
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As of 4:00 PM 03/3/15 All times are local (Market data is delayed by at least 15 minutes).

meg energy corp (MEG) Snapshot

Open
C$20.42
Previous Close
C$20.31
Day High
C$21.86
Day Low
C$20.34
52 Week High
04/30/14 - C$41.29
52 Week Low
12/12/14 - C$13.30
Market Cap
4.8B
Average Volume 10 Days
1.3M
EPS TTM
C$-0.47
Shares Outstanding
223.8M
EX-Date
--
P/E TM
--
Dividend
--
Dividend Yield
--
Current Stock Chart for MEG ENERGY CORP (MEG)

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meg energy corp (MEG) Details

MEG Energy Corp. engages in the development and production of in situ oil sands in Alberta, Canada. The company is developing enhanced oil recovery projects that utilize steam assisted gravity drainage extraction methods. It owns 100% working interest in approximately 200 square kilometers of oil sands leases in the Christina Lake project; and holds interest in approximately 2,000 square kilometers in the Growth Properties. The company also owns 100% working interest in the oil sands leases associated with the Surmont Project. In addition, it holds a 50% interest in a dual pipeline system, which connects the Christina Lake project to a regional upgrading, refining, and transportation hub in the Edmonton, Alberta area, as well as owns the Stonefell Terminal, a terminalling and storage facility. As of December 31, 2011, the company had 2.6 billion barrels of proved plus probable bitumen reserves and 3.4 billion barrels of contingent bitumen resources. MEG Energy Corp. was incorporated in 1999 and is headquartered in Calgary, Canada.

Founded in 1999

meg energy corp (MEG) Top Compensated Officers

Chairman, Chief Executive Officer and Preside...
Total Annual Compensation: C$561.0K
Chief Financial Officer
Total Annual Compensation: C$131.0K
Senior Vice President of Reservoir & Geoscien...
Total Annual Compensation: C$359.6K
Senior Vice President of Resource Management ...
Total Annual Compensation: C$318.0K
Senior Vice President of Resource Management ...
Total Annual Compensation: C$318.0K
Compensation as of Fiscal Year 2013.

meg energy corp (MEG) Key Developments

MEG Energy Corp. Presents at JPMorgan Global High Yield & Leveraged Finance Conference, Feb-23-2015

MEG Energy Corp. Presents at JPMorgan Global High Yield & Leveraged Finance Conference, Feb-23-2015 . Venue: Loews Hotel, Miami Beach, Florida, United States.

MEG Energy Corp. Reports Unaudited Consolidated Operating and Financial Results for the Fourth Quarter and Full Year Ended Dec. 31, 2014; Provides Operating Guidance for Fiscal 2015

MEG Energy Corp. reported unaudited consolidated operating and financial results for the fourth quarter and full year ended Dec. 31, 2014. Fourth quarter 2014 operating earnings were CAD 8 million compared to an operating loss of CAD 33 million for the same period in 2013. The increase in operating earnings is primarily due to increased bitumen sales volumes and higher price realizations. Cash flow from operations increased nearly six-fold to CAD 134 million in the fourth quarter of 2014 from CAD 23 million in the fourth quarter of 2013. The increase is primarily due to higher bitumen sales volumes and market price realizations, partially offset by an increase in natural gas energy costs and lower power revenues, as well as an increase in interest expense as a result of the weakening Canadian dollar and its impact on USD denominated interest expense. Operating earnings per diluted share was CAD 0.04 against CAD 0.15 for the same period of last year. Revenue was CAD 615 against CAD 350 million for the same period of last year. Net loss was CAD 150 million against CAD 148 million for the same period of last year. Net loss per diluted share was CAD 0.67 against CAD 0.67 for the same period of last year. Total cash capital investment was CAD 324 million against CAD 366 million for the same period of last year. Long-term debt was CAD 4,366 million against CAD 4,005 million for the same period of last year. Cash flow from operations was CAD 134 million against CAD 23 million for the same period of last year MEG recognized operating earnings of CAD 247 million or CAD 1.1 per diluted share for the full-year 2014 compared to CAD 0.4 million in 2013. Revenue was CAD 2,830 million against CAD 1,334 million for the same period of last year. Net loss was CAD 106 million against CAD 166 million for the same period of last year. Net loss per diluted share was CAD 0.47 against CAD 0.75 for the same period of last year. For the full year 2014, cash flow from operations increased 213% to CAD 791 million from CAD 253 million in 2013, primarily reflecting the same impacts noted for the fourth quarter. MEG's capital investment in 2014 totaled CAD 1.2 billion, a reduction of approximately CAD 600 million from the company's 2014 capital budget. Reduced capital spending reflects MEG's focus on lower-capital cost brownfield investments and deferrals of some planned spending in light of lower commodity prices. Long-term debt was CAD 4,366 million against CAD 4,005 million for the same period of last year. The company reported production rates for the fourth quarter of 2014 increased to a record 80,349 bpd from comparative fourth quarter 2013 production of 42,251 bpd. Related non-energy operating costs for the fourth quarter were CAD 6.42 per barrel, compared to CAD 8.09 in the fourth quarter of 2013. Annual non-energy operating costs were also at a record low of CAD 8.02 per barrel. Lower costs on both a quarterly and annual basis are reflective of higher production volumes from Phase 2B and increased plant efficiency. While fourth quarter 2014 production volumes exceeded 80,000 bpd, sales volumes were lower at approximately 70,000 bpd. The difference between production and sales was primarily due to the impact of line fill required for the start-up during the quarter of the Flanagan-Seaway pipeline, on which MEG has contracted capacity. MEG's annual production for 2014 averaged 71,186 bpd, an increase of 102% over 2013 volumes of 35,317 bpd and low annual non-energy operating costs of CAD 8.02 per barrel. Although the current program is focused primarily on sustaining and maintenance capital, MEG continues to target production growth of approximately 19% over its upwardly-revised 2014 guidance to a target of 78,000 to 82,000 barrels per day in 2015, while providing for two scheduled plant turnarounds.

MEG Energy Corp., Q4 2014 Earnings Call, Feb 05, 2015

MEG Energy Corp., Q4 2014 Earnings Call, Feb 05, 2015

 

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