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Strategies & Market Trends : Dino's Bar & Grill

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To: Goose94 who wrote (56049)	4/26/2019 7:44:10 PM
From: Goose94	Read Replies (1) of 202704

MEG Energy (MEG-T) revisited top pick from Eric Nuttall on BNN.ca Market Call Friday Apr 26th @ 1200ET MEG offers the cleanest way to get exposure to Canadian heavy oil production. We expect MEG to sanction their phase 2B expansion once they have clarity around Premier-elect Jason Kenney’s plans for Alberta curtailment resulting in year-end 2020 production of 113,000 barrels per day. Given our bullish outlook for WTI, Canadian heavy oil differentials ($17.50 per barrel for the next few years) and global heavy oil (Maya is trading at a $6 premium to WTI at the moment), MEG energy is a free cash flow beast: Six years of proved developed producing reserves with minimal required expenditures equals $2.5 billion of free cash flow. The stock is currently trading at a 2020 free cash flow yield of 30 per cent (at $60 WTI). That’s not normal. How long until a major oil producer realizes that?

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