meg energy turnaround
MEG disclaims any intention or obligation to update or revise any FOFI statements, whether as a result of new information, future events or otherwise, except as required by law. Investor Relations Here's What Earnings, Charts Show, Moderna Stock Jumps as Biotech Rakes in Revenue for Covid Vaccine, More chip industry action as Marvell is acquiring Inphi for $10B. Based on better than expected production performance during and post-turnaround, MEG is revising upward its full year 2020 average production from 78,000 – 80,000 bbls/d to 81,000 – 82,000 bbls/d. The Corporation's earliest long-term debt maturity is in 2024, represented by US$600 million of senior unsecured notes due March 2024. The company offered the prospect of social interaction online, and sold that prospect of increased traffic to advertisers. Buy) rating on the stock. Revised non-energy operating costs and G&A expense guidance ranges include approximately $15 million and $7 million, respectively, of temporary cost reductions including CEWS. In particular, and without limiting the foregoing, this news release contains forward looking statements with respect to our 2020 capital budget, allocation and funding, expected 2020 free cash flow, future production capability, and target 2020 production, and non-energy operating and general & administrative costs, our focus and strategy, expecting sustaining and maintenance capital and other capital, future re-contracting of rail loading capacity and plans to improve overall cost efficiencies. Costs incurred to mitigate rail sales contract exposure. Unless otherwise stated, the forward-looking information included in this news release is made as of the date of this news release and MEG assumes no obligation to update or revise any forward-looking information to reflect new events or circumstances, except as required by law. If drawn in excess of $400 million, MEG is required to maintain a quarterly first lien net leverage ratio (first lien net debt to last twelve-month EBITDA) of 3.5 or less. Before you open a retirement account, you should know the disadvantages of Roth IRAs. Marvell CEO Matt Murphy believes that by adding Inphi, a chip maker that helps connect internal servers in cloud data centers, and then between data centers, using fibre cabling, it will complement Marvell's copper-based chip portfolio and give it an edge in developing more future-looking use cases where Inphi shines. Exxon is keeping its annual dividend steady for the first time in nearly 40 years as more losses pile up. Subject to the level of actual apportionment on the Enbridge mainline system, transportation costs are expected to average between US$7.50 and US$8.50 per barrel of AWB blend sales through the remainder of 2020 and 2021. The use of any of the words "anticipate", "continue", "estimate", "expect", "may", "will", "project", "should", "believe", "plan", "intend", "target", "potential" and similar expressions are intended to identify forward-looking statements. Based on better than expected production performance during and post-turnaround, MEG is revising upward its full year 2020 average production from 78,000 – 80,000 bbls/d to 81,000 – 82,000 bbls/d.
Contract cancellation costs or recoveries are excluded from adjusted funds flow as they are not considered part of ordinary continuing operating results. Non-energy operating costs are now expected to be in the range of $130 - $135 million, or approximately $32.5 million lower than original guidance. Certain statements contained in this news release may constitute forward-looking statements within the meaning of applicable Canadian securities laws. MEG also made the decision to advance turnaround activities from 2021 to significantly reduce the 2021 turnaround requirements. MEG Energy announces third quarter results including successful completion of major plant turnaround, increased production guidance and further cost reductions (CNW Group/MEG Energy Corp.) The increase in average bitumen realization quarter over quarter was driven by the higher WTI price and lower diluent cost. Forward-looking information contained in this press release is based on management's expectations and assumptions regarding, among other things: future crude oil, bitumen blend, natural gas, electricity, condensate and other diluent prices, differentials, level of apportionment on the Enbridge mainline, the level of contango in benchmark crude oil prices, foreign exchange rates and interest rates; the recoverability of MEG's reserves and contingent resources; MEG's ability to produce and market production of bitumen blend successfully to customers; extent and timelines of the Alberta Government's mandatory production curtailment program, future growth, results of operations and production levels; future capital and other expenditures; revenues, expenses and cash flow; operating costs; reliability; continued liquidity and runway to sustain operations through a prolonged market downturn; ability to reduce oil sands production, including without negative impacts to its assets; forecast production volumes are subject to potential further ramp down of production based on business and market conditions; anticipated reductions in operating costs as a result of optimization and scalability of certain operations; anticipated sources of funding for operations and capital investments; plans for and results of drilling activity; the regulatory framework governing royalties, land use, taxes and environmental matters, including the timing and level of government production curtailment and federal and provincial climate change policies, in which MEG conducts and will conduct its business; the impact of MEG's response to the COVID-19 global pandemic; and business prospects and opportunities.
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