MEG Energy Corp ( (MEGEF) ) has released its Q1 earnings. Here is a breakdown of the information MEG Energy Corp presented to its investors.
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MEG Energy Corp, a leading Canadian in situ thermal oil producer, focuses on meeting energy demands safely while generating long-term value for stakeholders. In the first quarter of 2025, MEG Energy reported a 24% increase in funds from operations per share, highlighting a strong financial foundation and operational excellence. Key financial metrics include a production rate of 103,224 barrels per day, a 24% increase in funds from operations to $380 million, and a free cash flow of $223 million. The company returned $185 million to shareholders through share repurchases and dividends. MEG Energy’s management remains committed to disciplined spending and delivering shareholder value, with an unchanged operational and capital guidance for 2025, ensuring a well-positioned stance for long-term success.