MEG Energy traded at 30.89 this Friday November 14th, increasing 0.22 or 0.72 percent since the previous trading session. Looking back, over the last four weeks, MEG Energy gained 3.52 percent. Over the last 12 months, its price rose by 22.05 percent. Looking ahead, we forecast MEG Energy to be priced at 30.14 by the end of this quarter and at 28.01 in one year, according to Trading Economics global macro models projections and analysts expectations.
MEG Energy Corp. is a Canada-based energy company focused on in-situ thermal oil production in the southern Athabasca oil region of Alberta, Canada. The Company is engaged in the development of enhanced oil recovery projects that utilize steam-assisted gravity drainage extraction methods to improve the economic recovery of oil. It transports and sells thermal oil (AWB) to customers throughout North America and internationally. The Company owns a 100% interest in over 410 square miles of mineral leases in the southern Athabasca oil region of Alberta, Canada and is primarily engaged in sustainable in situ thermal oil production at its Christina Lake Project. Christina Lake Project is a multi-phased project, located 150 kilometers south of Fort McMurray in northeast Alberta. It comprised of approximately 200 square kilometers of leases.