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All financial figures are in Canadian dollars ($ or C$) and all references to barrels are per barrel of bitumen unless otherwise noted. The Corporation’s Non-GAAP and Other Financial Measures are detailed in the Advisory section of this news release. They include: cash operating netback, bitumen realization net of transportation and storage expense, operating expenses net of power revenue, energy operating costs net of power revenue, non-energy operating costs, energy operating costs, adjusted funds flow, free cash flow and net debt. CALGARY, AB, May 1, 2023 /CNW/ – MEG Energy Corp. ( TSX: MEG ) (“MEG” or the “Corporation”) reported its first quarter 2023 operational and financial results. MEG Energy announces first quarter 2023 financial and operating results (CNW Group/MEG Energy Corp.) “In Q1 our Christina Lake operations delivered strong bitumen production at an industry leading steam-oil ratio and with an operating cost structure that was positively impacted by low natural gas and higher power prices”, said Derek Evans, President and Chief Executive Officer. “These strong operating results enabled our ongoing commitment to debt reduction with $117 million of debt repaid in the quarter as well as share buybacks of $103 million. All of this was achieved with our […]
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