To: Goose94 who wrote (70182 ) 11/23/2019 10:26:37 PM From: Goose94 Read Replies (1) | Respond to MEG Energy (MEG-T) released its 2020 guidance Its planned budget is $250-million, nearly 10-per-cent lower than analysts were forecasting. Production guidance of 94,000 to 97,000 barrels a day is fairly close to analysts' forecasts of a firm 97,000 barrels a day, and represents a roughly 3-per-cent increase over this year's expected production of about 92,500 barrels a day (a target that was hiked last month from about 91,000 barrels a day). The trim budget partly reflects years of cost-cutting efforts. For example, non-energy operating costs (which exclude gas consumption) are forecast at about $4.70 per barrel next year, down from over $8 per barrel in 2014. MEG is optimistic that it will bring in more than enough cash flow to cover its budget, and will use the extra cash flow to keep paying down its debt. It patted itself on the back for having already reduced its debt by about $500-million so far this year.
