Oct 27 (Reuters) - MEG Energy Corp MEG.TO , a major player in the Canadian oil sands, reported a smaller loss as its cost reduction strategy continued to pay off.
Calgary-based MEG reported a net loss of C$109 million ($92.70 million), or 48 Canadian cents per share, for the three months ended Sept. 30, compared with a loss of C$428 million, or C$1.90 cents per share, a year earlier. rose 8 percent to C$497 million.
($1 = 1.3377 Canadian dollars)