|Bid||7.12 x N/A|
|Ask||7.13 x N/A|
|Day's Range||6.91 - 7.18|
|52 Week Range||4.06 - 8.07|
|Beta (5Y Monthly)||2.11|
|PE Ratio (TTM)||N/A|
|Earnings Date||Mar. 04, 2020 - Mar. 08, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||8.58|
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CALGARY, Jan. 31, 2020 /CNW/ - MEG Energy Corp. today announced that it has successfully closed its previously announced offering (the "offering") of US$1,200 million in aggregate principal amount of 7.125% senior unsecured notes due February 2027 (the "notes"). MEG intends to use the net proceeds of the offering, together with cash on hand, (i) to refinance its US$800 million in aggregate principal amount of 6.375% senior unsecured notes due January 2023 (the "2023 Notes") by way of a previously announced conditional redemption, (ii) to redeem US$400 million of its US$1,000 million aggregate principal amount of 7.00% senior unsecured notes due March 2024 (the "2024 Notes") by way of a previously announced conditional redemption, and (iii) to pay fees and expenses related to the offering.
All financial figures are in Canadian dollars ($ or C$) and all references to barrels are per barrel of bitumen sales unless otherwise noted CALGARY , Jan. 16, 2020 /CNW/ - MEG Energy Corp. ("MEG" ...
CALGARY , Jan. 16, 2020 /CNW/ - MEG Energy Corp. ("MEG" or the "Company") (MEG.TO) announced today that, subject to market and other conditions, it plans to commence a private offering (the "offering") of US$800 million in aggregate principal amount of senior unsecured notes due 2027 (the "notes"). MEG intends to use the net proceeds of the offering, if completed, and cash on hand to (i) redeem in full its US$800 million aggregate principal amount of 6.375% senior unsecured notes due January 2023 (the "2023 Notes") and (ii) pay fees and expenses related to the offering. MEG also announced today that it has issued (i) a conditional notice to redeem in full MEG's US$800 million in aggregate principal amount of 2023 Notes at a redemption price of 101.063%, plus accrued and unpaid interest to, but not including, the redemption date; and (ii) a notice to redeem US$100 million aggregate principal amount of its 6.50% senior secured second lien notes due 2025 (the "Second Lien Notes") at a redemption price of 104.875%, plus accrued and unpaid interest to, but not including, the redemption date.
Canada’s long-suffering energy sector likely isn’t in position to take advantage if supply drops in the Middle East, analysts say.
TORONTO — Some of the most active companies traded Wednesday on the Toronto Stock Exchange:Toronto Stock Exchange (16,939.61, down 11.09 points.)Bombardier Inc. (TSX:BBD.B). Industrials. Down four cents, or 2.08 per cent, to $1.88 on 9.6 million shares.Storm Resources Ltd. (TSX:SRX). Energy. Up six cents, or 4.2 per cent, to $1.49 on 7.9 million shares.Orla Mining Ltd. (TSX:OLA). Materials. Down five cents, or 2.92 per cent, to $1.66 on 7.2 million shares.Aurora Cannabis Inc. (TSX:ACB). Health care. Down 10 cents, or 3.01 per cent, to $3.22 on 7.2 million shares.MEG Energy Corp. (TSX:MEG). Energy. Up 10 cents, or 1.55 per cent, to $6.56 on 5.9 million shares.Canadian Natural Resources Ltd. (TSX:CNQ). Energy. Down 20 cents, or 0.51 per cent, to $38.87 on 5.5 million shares. Companies in the news:Hudson's Bay Co. (TSX:HBC). Down 35 cents or four per cent to $8.43. Glass Lewis is recommending that Hudson's Bay Co. shareholders accept a takeover offer by a group led by the retailer's executive chairman, an opinion that contrasts with a rejection issued earlier by another advisory firm. Glass Lewis said the proposal offers shareholders certainty of value for their HBC shares at a sizable market premium and a relatively attractive valuation. The Richard Baker-led group has offered $10.30 per share, a bid that is less than the $11 per share offered by dissident shareholder Catalyst Capital Group. Glass Lewis said some shareholders may be holding out for the possibility that the group led by Baker might eventually back an alternative offer, but said there was "no compelling evidence" that might happen.WestJet Airlines Ltd. (TSX:WJA). Up 45 cents to $30.98. WestJet Airlines Ltd. shareholders won't be receiving a quarterly dividend this month after Onex Corp. announced the completion of its acquisition of the Calgary-based airline. WestJet and Onex say the payment won't be made because the deal has closed before Dec. 18. The airline's board of directors had declared a 14 cents per share dividend on Oct. 28 to be paid on Dec. 31 to shareholders of record next week. The Toronto-based private equity firm and its affiliated funds say the deal closed following a final regulatory approval Tuesday by the Canadian Transportation Agency that found WestJet continued to meet Canadian ownership and control requirements following its purchase by Onex.Air Canada (TSX:AC). Up 83 cents to $49.39. Transport Minister Marc Garneau said Wednesday he has spoken with Air Canada about problems continuing to plague its new booking system on the cusp of holiday travel season, but that resolving them is beyond his reach. The airline introduced the new reservation system more than three weeks ago, triggering a barrage of social media complaints from passengers who had difficulty accessing their booking information or reaching customer service agents.This report by The Canadian Press was first published Dec. 11, 2019.The Canadian Press
CALGARY, Dec. 2, 2019 /CNW/ - MEG Energy Corp. (TSX:MEG.TO - News) announced today it has successfully completed rail contracting to support its 2020 production guidance. On November 21, MEG announced 2020 production guidance of 94,000 to 97,000 bpd of bitumen which was dependent in part on the Corporation's ability to re-contract a significant portion of its rail loading capacity which was previously contracted for blend sales agreements with the Alberta Petroleum Marketing Commission. MEG is an oil company focused on sustainable in situ thermal oil development and production in the southern Athabasca region of Alberta, Canada.
MEG Energy Corp is not for the faint of heart, but its returns could be huge. Should you add it to your TFSA?
CALGARY — Shares in oilsands producer MEG Energy Corp. rose by as much as 3.9 per cent Friday after it announced lower capital spending and a continued focus on debt retirement in 2020.Analysts applauded the Calgary-based company's plan to spend $250 million next year — about $20 million less than some expected — with production that is still forecast to meet expectations at between 94,000 and 97,000 barrels of bitumen per day.MEG says about $210 million of the budget is considered sustaining and maintenance capital.It plans to spend $20 million to complete a processing facility expansion to provide more steam generation, water handling and oil treating capacity at its northeastern Alberta works which use steam to produce bitumen from wells.The remaining $20 million is mainly for needed field infrastructure and regulatory and corporate capital costs.MEG says after reducing its debt by $500 million this year, it will continue to allocate all excess free cash flow to further reductions. Net debt is expected to fall to just under $3 billion by the end of 2019.MEG shares rose as high as $5.85, up 22 cents, on the Toronto Stock Exchange. A year ago, they were trading at $8.55.This report by The Canadian Press was first published on Nov. 22, 2019.Companies in this story: (TSX:MEG)The Canadian Press