Media General (MEG) Misses Q2 EPS by 23c

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MEG Energy reports record-high first half production and record low operating costs

July 28, 2016 5:00 AM EDT

CALGARY, AB -- (Marketwired) -- 07/28/16 -- MEG Energy Corp. (TSX: MEG) today reported second quarter 2016 operating and financial results. Highlights include:

Record first half production volumes of 79,883 barrels per day (bpd) with second quarter production of 83,127 bpd and post-maintenance production volumes above 86,000 bpd in May and June;

Record-low quarterly net operating costs of $7.43 per barrel, supported by non-energy operating costs of $5.81 per barrel;

Cash flow from operations of $7 million, a substantial improvement from cash flow used in operations of $131 million in the... More