|Bid||5.30 x 0|
|Ask||5.40 x 0|
|Day's Range||5.34 - 5.43|
|52 Week Range||4.28 - 11.70|
|Beta (3Y Monthly)||0.41|
|PE Ratio (TTM)||28.66|
|Earnings Date||Mar 8, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||7.75|
Canadian heavy crude and bitumen producers are experimenting with new ways to dilute and ship Bitumen, bringing down costs and optimizing shipping
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It had forecast a 2019 capital plan of C$500 million in October. Rival producer Husky Energy Inc. abandoned a C$2.75 billion offer for MEG last week, citing its failure to win enough shareholder support and the deterioration in Canada’s oil-sands industry, where a lack of pipeline space has hammered prices and prompted Alberta officials to mandate production cuts. “For an initial re-engagement with the Street coming out of the hostile takeover process with Husky, we believe this strikes the right chord,” Chris Cox, an analyst at Raymond James Ltd., said in a note.
Canadian oil sands producer MEG Energy Corp said on Tuesday it would halve its capital spending to a maximum of C$275 million this year amid a global supply glut. MEG, which fought off a hostile bid last ...
Canadian oil sands producer MEG Energy Corp said on Tuesday it expects to spend up to C$275 million this year, after fighting off a hostile bid last week from bigger rival Husky Energy Inc . MEG expects ...
A discretionary capital budget of $75 million , which would not be sanctioned until mid-2019 subject to market conditions at that time. While MEG has the ability to average 100,000 bpd of production in 2019, due to the Alberta Government mandated production curtailments, MEG expects 2019 production to average 90,000 to 92,000 bpd, and non-energy operating costs in the range of $4.75 to $5.25 per barrel.
MEG Energy announces the timing of the release of its 2019 capital budget and conference call
** Schlumberger NV said it would withdraw its application for the acquisition of a stake in Russia's Eurasia Drilling Company (EDC) if it is not successful in getting approvals soon. ** The chief executive officer of Canadian oil producer MEG Energy Corp invited his counterpart at Husky Energy Inc earlier this month to negotiate a friendly takeover of MEG but Husky did not follow up, MEG's vice president of investor relations, John Rogers, said.
Canadian oil producer MEG Energy Corp's (MEG.TO) CEO invited his Husky Energy Inc (HSE.TO) counterpart this month to negotiate a friendly takeover of MEG, but Husky did not follow up, MEG's vice president of investor relations John Rogers said on Friday. Husky abandoned its hostile bid for MEG on Thursday, saying it could not win sufficient MEG shareholder support after Alberta's government ordered production cuts to reduce a crude glut. MEG produced an estimated 88,000 barrels of oil per day in 2018, according to GMP First Energy, equal to about 40 percent of Husky's production.
Moody's Investors Service ("Moody's") says that Husky Energy Inc.'s (Husky, Baa2 stable) announcement that its unsolicited offer to acquire a majority of MEG Energy Corp.'s (MEG, B3 stable) shares did not gather sufficient support to move forward is credit positive. The outright termination of the takeover bid is credit positive for Husky because the acquisition of MEG would have been leveraging in nature while reducing Husky's integration and increasing its exposure to heavy oil differentials. Husky will instead maintain its already strong financial position, characterized by robust metrics, significant integration and organic production growth.
CALGARY , Jan. 17, 2019 /CNW/ - MEG Energy Corp. (TSX:MEG, "MEG" or the "Company") acknowledges Husky Energy's ("Husky") press release, stating that the takeover offer for MEG did not meet Husky's minimum tender conditions, due to insufficient shareholder support. By its nature, such forward-looking information involves significant known and unknown risks and uncertainties, which could cause actual results to differ materially from those anticipated.
Husky Energy Inc said on Thursday it will not extend its hostile bid for MEG Energy after failing to get sufficient support from the rival oil producer's board and shareholders. Husky had argued the bid offered a premium to MEG's share price, giving investors exposure to Husky's stronger balance sheet and included the prospect of C$200 million per year in synergies.
Husky Energy abandons its hostile bid to acquire MEG Energy Corp after failing to win support from shareholders and the board of the rival oil-sands producer.
Husky Energy Inc expects to secure over 50 percent support from MEG Energy shareholders for Husky's C$3.3 billion ($2.5 billion) unsolicited offer to take over the rival oil producer by Wednesday's deadline, people familiar with the situation told Reuters. The deal reflects Husky's strategy to double down on heavy oil production, even as clogged pipelines drove down Canadian prices last year.
CALGARY , Dec. 21, 2018 /CNW/ - MEG Energy Corp. (TSX:MEG, "MEG" or the "Company") today acknowledges that on December 14, 2018 , the Alberta Securities Commission issued a decision Re Husky Energy Inc., 2018 ABASC 184 (the "Decision"), exempting Husky from subsection 2.23(1) of National Instrument 62-104 Take-Over Bids and Issuer Bids which requires Husky to offer identical consideration to all of the holders of the same class of securities that are subject to a take-over bid in connection with the Husky Offer. In light of the foregoing, MEG hereby announces that it has irrevocably waived the application of the Shareholder Rights Plan effective January 15, 2019 to all offers, including the Husky Energy offer, as the Shareholder Rights Plan has served its intended purpose.
Canadian oil and gas producer Husky Energy Inc said on Tuesday it has received regulatory approvals to buy rival MEG Energy Corp, but MEG has yet to agree on the deal. In October, Husky made an unsolicited ...
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MEG Energy reports record production, record low net operating costs per barrel, and strong funds flow from operations in third quarter of 2018