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So if we break it down by month, April and May, we still had high condensate prices, but we found that we were also in an environment where WTI was improving. So the second one, I'm going to change it up just a little bit, and it's not necessarily a point normal question per se.
MEG Energy announces second quarter 2020 free cash flow of $69 million, exiting the quarter with credit facility undrawn and $120 million of cash on hand (CNW Group/MEG Energy Corp.) MEG Energy has released its third quarter 2018 operating and financial results. MEG ENERGY otc stock news, alerts, and headlines are usually related to their technical, predictive, social, and fundamental indicators. By providing my email, I consent to receiving messages from Stockhouse.Near-Term, Low-Cost, US Uranium Production PotentialFinancing Secured for $2 Billion Puerto Rico ProjectAn Emerging Medical Market Play with Great OpportunityBack in Blackdome: An Intriguing Cariboo Gold Exploration ProjectA Potential High-Grade Gold & Copper Mining Bonanza in South AmericaBy providing my email, I consent to receiving messages from Stockhouse.I consent to receiving investment related electronic messages from Stockhouse and the companies selected. And I think large part of the tightness and the differential that you're seeing today is being driven by that lack of production that's on. And the -- both our G&A costs and our nonenergy operating costs are impacted by the federal program, the Canadian Emergency Wage Subsidy.
And then second question would just be with the additional pipeline capacity to the Gulf Coast in the second half of the year.and with where Canadian production is and your view on apportionments, how much of that capacity do you think you'll be able to utilize in the second half, would it be the full amount or something less?--------------------------------------------------------------------------------Derek W. Evans, MEG Energy Corp. - President, CEO & Director [5]--------------------------------------------------------------------------------At this juncture, I'd say we're not planning on moving our own proprietary volumes down through the line. As the pandemic continues to evolve, we'll remain nimble and agile with respect to the execution of our sustainable business model that generates material free cash flow supported by our low decline and low-cost structure at Christina Lake.In conclusion, we remain committed to sustainable, innovative and responsible energy development, and we'll continue to drive efficiencies in our business from a financial, operational and cost perspective.With that operator, we will open the line for questions.================================================================================----------------------------------------------------------------------------------------------------------------------------------------------------------------(Operator Instructions) The first question comes from Phil Gresh from JPMorgan.--------------------------------------------------------------------------------Philip Mulkey Gresh, JPMorgan Chase & Co, Research Division - Senior Equity Research Analyst [2]--------------------------------------------------------------------------------First question is just your latest thoughts around sustaining capital needs for the business just to maintain the 80,000 barrels a day on a go forward?
As of March 2020, the company reported estimated net proved and probable reserves of 2.1 billion barrels of oil equivalent.
And then if you were to try to ramp that back to 100 kBd at some point, how do you think about the capital required to do that?--------------------------------------------------------------------------------Derek W. Evans, MEG Energy Corp. - President, CEO & Director [3]--------------------------------------------------------------------------------Sure. We continue to watch the forward strip, and it's continued to march up. View the By providing my email, I consent to receiving messages from Stockhouse.You are already a member!
This report by The Canadian Press was first published July 27, 2020. We pulled those units apart and have gone into do sort of the, what I would call the, 5-year annual inspection type work that needs to be done on those units.
And just my follow-up is around WTI:WCS differential.
And we're quite excited that there's multiple construction spreads actually putting pipe into the ground on TMX.
And then perhaps the second part is just around what you're seeing in terms of U.S. Gulf Coast heavy pricing as well?--------------------------------------------------------------------------------Derek W. Evans, MEG Energy Corp. - President, CEO & Director [10]--------------------------------------------------------------------------------So we've seen -- well, western Canadian production, especially heavy production, there's still -- we're not the only party or company that's down on turnaround. Please enter your password to sign in.You are already a member! So turnarounds on HRSG and the GTG have been moved up.