News Formal

MEG Energy sees third-quarter earnings, bitumen production rise

  • 📰 SooToday
  • ⏱ Reading Time:
  • 27 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 85%

Ireland News News

Ireland Ireland Latest News,Ireland Ireland Headlines

MEG Energy Corp. says it earned $249 million in the third quarter, up from $156 million a year earlier. The Calgary-based energy company says earnings per diluted share were 86 cents, up from 51 cents during the same quarter last year.

MEG Energy Corp. says it earned $249 million in the third quarter, up from $156 million a year earlier.

The Calgary-based energy company says earnings per diluted share were 86 cents, up from 51 cents during the same quarter last year.CEO Derek Evans says increased bitumen production and strong bitumen realizations resulted in over $400 million in free cash flow, allowing the company to advance its debt reduction.

The company says it paid down US$68 million in debt, or approximately $92 million in Canadian dollars, during the third quarter.This report by The Canadian Press was first published Nov. 6, 2023.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 8. in İE

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

MEG Energy sees third-quarter earnings, bitumen production riseMEG Energy Corp. says it earned $249 million in the third quarter, up from $156 million a year earlier. The Calgary-based energy company says earnings per...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »