CALGARY, AB, Oct. 7, 2024 /CNW/ – MEG Energy Corp. (“MEG” or the “Corporation” (TSX: MEG)) has received notice of an unsolicited “mini-tender” offer made by TRC Capital Investment Corporation (“TRC Capital”) to purchase up to 4,000,000 MEG shares, or approximately 1.50% of MEG’s outstanding shares, at a price of C$24.25 per share. The offering price represents a discount of 4.57% to the closing price of MEG shares on the Toronto Stock Exchange (the “TSX”) on September 30, 2024, the last trading day before the mini-tender offer was commenced, and a 12.42% discount to the closing price of … Continue Reading

CALGARY, AB, Oct. 1, 2024 /CNW/ – MEG Energy Corp. (“MEG” or the “Corporation” (TSX: MEG)) is pleased to announce that it has achieved its US$600 million debt target and will now be transitioning to a 100% return of free cash flow to shareholders.

“This achievement marks a significant milestone in our multi-year capital allocation strategy, positioning us to substantially increase returns to our shareholders,” said Darlene Gates, President and CEO of MEG Energy. “With the recent repayment of our 2027 7.125% senior unsecured notes, we have achieved our long stated US$600 million debt target. I am excited … Continue Reading

All financial figures are in Canadian dollars ($ or C$) and all references to barrels are per barrel of bitumen unless otherwise noted. The Corporation’s Non-GAAP and Other Financial Measures are detailed in the Advisory section of this news release. They include: cash operating netback, bitumen realization net of transportation and storage expense, operating expenses net of power revenue, energy operating costs net of power revenue, non-energy operating costs, energy operating costs, adjusted funds flow, free cash flow and net debt.

CALGARY, AB, July 25, 2024 /CNW/ – MEG Energy Corp. (TSX: MEG) (“MEG” or the “Corporation”) reported its … Continue Reading

CALGARY, AB, July 21, 2024 /CNW/ – MEG Energy Corp. (“MEG” or the “Corporation”) (TSX:MEG) announced today that its production levels have remained stable at its Christina Lake Regional Project facility despite the ongoing regional wildfires. The Company continues to operate with a reduced and essential workforce to ensure the safety of its employees and contractors.

“Our first priority is the safety and well-being of our people and the communities near our operations,” said Darlene Gates, President and CEO. “We are proud of our team’s resilience and dedication during this challenging time. By maintaining a proactive approach to … Continue Reading

CALGARY, AB, July 17, 2024 /CNW/ – MEG Energy Corp. (“MEG” or the “Corporation” (TSX: MEG) reports that the Corporation has proactively initiated a controlled evacuation of non-essential personnel from MEG’s Christina Lake Regional Project (CLRP) as a result of nearby wildfires.

“Our first operating priority is to care for ourselves and all others,” said Darlene Gates, President and CEO. “Out of an abundance of caution, we are taking precautions to ensure the safe and orderly withdrawal of all non-essential personnel. Our focus is to minimize and mitigate any potential impact on our people and our operations. At … Continue Reading

CALGARY, AB, July 8, 2024 /CNW/ – 

First Quarter Results Release:     

Thursday, July 25, 2024 after market close

Conference Call Details:                 

Friday, July 26, 2024 8:30am ET / 6:30am MT

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 Friday, July 26, 2024 at: https://www.megenergy.com/investors/presentations-events/ 

MEG is an energy company focused on sustainable in situ thermal oil production in the southern Athabasca oil region of Alberta, Canada. MEG is actively developing innovative enhanced oil recovery … Continue Reading

CALGARY, AB, July 2, 2024 /CNW/ – MEG Energy Corp. (“MEG” or the “Corporation”) (TSX: MEG) announces the appointment of Michael McAllister to its board of directors, effective July 1, 2024.

Mr. James D. McFarland, Chair of the Board of Directors, stated: “We are pleased to welcome Michael to MEG’s Board of Directors. Michael’s experience and expertise will be of significant benefit to MEG as we execute on our strategic initiatives.” Mr. McAllister, P.Eng., has 40 years of energy industry experience, holding several executive roles with North American oil and gas companies. He has extensive expertise in … Continue Reading

CALGARY, AB, May 7, 2024 /CNW/ – MEG Energy Corp. (“MEG” or the “Corporation”) (TSX: MEG) is pleased to announce that at its annual meeting of shareholders held on May 7, 2024 (the “Meeting”), all resolutions were approved as follows:

Election of Directors

Each of the nine (9) nominees listed in its Management Information Circular dated March 18, 2024, were elected as directors. The results of the shares voted in respect of the election of each director are set out below.

Votes FOR

Votes WITHHELD

Nominee

#

%

#

%

Gary A. Bosgoed

176,526,461

99.84

279,254

0.16

Darlene … Continue Reading

All financial figures are in Canadian dollars ($ or C$) and all references to barrels are per barrel of bitumen unless otherwise noted. The Corporation’s Non-GAAP and Other Financial Measures are detailed in the Advisory section of this news release. They include: cash operating netback, bitumen realization net of transportation and storage expense, operating expenses net of power revenue, energy operating costs net of power revenue, non-energy operating costs, energy operating costs, adjusted funds flow, free cash flow and net debt.

CALGARY, AB, May 6, 2024 /CNW/ – MEG Energy Corp. (TSX: MEG) (“MEG” or the “Corporation”) reported its … Continue Reading

CALGARY, AB, April 15, 2024 /CNW/ –

First Quarter Results Release:

Monday, May 6, 2024 after market close

Conference Call Details:

Tuesday, May 7, 2024 8:30am ET / 6:30am MT

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 7, 2024 at: https://www.megenergy.com/investors/presentations- events/

MEG is an energy company focused on sustainable in situ thermal oil production in the southern Athabasca oil region of Alberta, Canada. MEG is actively developing innovative enhanced oil recovery … Continue Reading

CALGARY, AB, March 6, 2024 /CNW/ – MEG Energy Corp. (TSX: MEG) (“MEG” or the “Corporation”) announces today that the Toronto Stock Exchange (the “TSX”) has approved the renewal of the Corporation’s normal course issuer bid (the “Bid”).

Pursuant to the Bid, MEG will purchase for cancellation, from time to time, as it considers advisable, up to a maximum of 24,007,526 common shares of the Corporation. The Bid will become effective on March 11, 2024 and will terminate on March 10, 2025 or such earlier time as the Bid is completed or terminated at the option of MEG.

MEG’s … Continue Reading

Darlene Gates to become President & CEO with departure of Derek Evans

CALGARY, AB, Feb. 29, 2024 /CNW/ – MEG Energy Corp. (TSX: MEG) (“MEG” or the “Corporation”) today announced that Derek Evans will be stepping down from his role as President and Chief Executive Officer and from its Board of Directors effective May 1, 2024. Concurrent with this announcement, the Board of Directors is pleased to announce the appointment of Darlene Gates, the Corporation’s current Chief Operating Officer, to succeed Mr. Evans as President and Chief Executive Officer. Ms. Gates will be nominated for election to … Continue Reading