MEG Energy Corp Boasts Solid Q1 2024 Performance
Company Announcements

MEG Energy Corp Boasts Solid Q1 2024 Performance

MEG Energy Corp (TSE:MEG) has released an update.

MEG Energy Corp reported a strong first quarter in 2024, with an average bitumen production of 104,000 barrels per day and a robust free cash flow of $217 million, which enabled the repurchase of 4.7 million shares and the redemption of $142 million in debt. The company expects the upcoming TMX pipeline to enhance heavy oil prices, reduce volatility, and improve netbacks on production. It also maintained its 2024 operating and capital guidance unchanged.

For further insights into TSE:MEG stock, check out TipRanks’ Stock Analysis page.

Related Articles
TheFlyMEG Energy price target raised to C$28.50 from C$28 at Raymond James
TheFlyMEG Energy price target lowered to C$34 from C$35 at RBC Capital
TipRanks Auto-Generated NewsdeskMEG Energy Reports Q3 2024 Earnings and Strategic Updates
Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App