MarketLine Company Profile: MEG Energy Corp.

MEG Energy Corp.; OIL sands industry; PETROLEUM industry

MEG Energy is engaged in oil sands development and production in the southern Athabasca region of Alberta, Canada. The company also owns interests in two midstream assets, including Access pipeline, a 50% owned joint venture with Devon Energy; and Stonefell terminal, a 900,000 barrel storage facility. MEG Energy operates in Canada and the US. It is headquartered in Alberta, Canada, and employs around 583 people. The company recorded revenues of C$1,334,497 thousand (approximately $1,296,370.4 thousand) in the fiscal year ended December 2013, an increase of 27% over 2012. The company's operating profit was C$112,793 thousand (approximately $109,570.5 thousand) in fiscal 2013, a decrease of 0.3% compared to 2012. Its net loss was C$166,405 thousand (approximately $161,650.8 thousand) in fiscal 2013, as compared to the net profit of C$52,569 thousand (approximately $51,067.1 thousand) in 2012. [ABSTRACT FROM AUTHOR]

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