Final hours! Save up to 50% OFF InvestingProCLAIM SALE

BRIEF-MEG Energy Reports Qtrly Adj. Funds Flow Per Share C$0.29

Published 2020-07-27, 05:45 p/m
© Reuters.
MEG
-

July 27 (Reuters) - MEG Energy Corp MEG.TO :

* MEG ENERGY ANNOUNCES SECOND QUARTER 2020 FREE CASH FLOW OF $69 MILLION, EXITING THE QUARTER WITH CREDIT FACILITY UNDRAWN AND $120 MILLION OF CASH ON HAND

* BITUMEN PRODUCTION AVERAGED 75,687 BBLS/D IN Q2 OF 2020, COMPARED TO 91,557 BBLS/D IN Q1

* BITUMEN PRODUCTION AVERAGED 75,687 BBLS/D IN Q2 OF 2020, COMPARED TO 91,557 BBLS/D IN Q1 OF 2020

* QTRLY LOSS PER SHARE 26 CENTS

* QTRLY ADJUSTED. FUNDS FLOW PER SHARE C$0.29

* QTRLY REVENUE $307 MILLION VERSUS $1,062 MILLION

* REALIZED AN AVERAGE AWB BLEND SALES PRICE OF US$15.12 PER BARREL IN QUARTER

* RE-INSTATING FY PRODUCTION GUIDANCE WHICH IS NOW TARGETED AT 78,000 - 80,000 BBLS/D

* EARLIEST LONG-TERM DEBT MATURITY IS APPROXIMATELY FOUR YEARS OUT

* MODIFIED COVENANT-LITE $800 MILLION REVOLVING CREDIT FACILITY HAS NO FINANCIAL MAINTENANCE COVENANT UNLESS DRAWN IN EXCESS OF $400 MILLION

* MEG ENERGY - FOR H2 2020, TO DATE ENTERED BENCHMARK WTI FIXED PRICE HEDGES FOR ABOUT 70% OF FORECAST BITUMEN PRODUCTION AT ABOUT US$46 PER BARREL

* Q2 EARNINGS PER SHARE VIEW C$-0.10, REVENUE VIEW C$435.0 MILLION -- REFINITIV IBES DATA

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.