Meg Energy Corp. Q1 earnings increased 21% to $98M due to Trans Mountain pipeline expansion.

Meg Energy Corp. reported a 21% increase in Q1 earnings, reaching $98 million, up from $81 million the previous year. CEO Darlene Gates attributed the growth to additional pipeline capacity from the Trans Mountain expansion. Though revenues decreased slightly from $1.5B to $1.4B, diluted EPS increased from 28 cents to 36 cents. Bitumen production averaged 104,000 barrels per day during Q1, with 4.7M shares repurchased.

May 06, 2024
6 Articles