MEG Energy Corp - Company Profile
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MEG Energy Corp (MEG), a subsidiary of Cenovus Energy Inc, is an energy company focused on in situ thermal oil production in the southern Athabasca oil region of Alberta, Canada. The company's main activities involve developing enhanced oil recovery projects using steam-assisted gravity drainage (SAGD) extraction methods. MEG's major product is thermal oil, marketed under the name Access Western Blend (AWB). The company serves customers throughout North America and internationally, providing oil for various industrial applications. MEG owns working interests in significant mineral leases and operates the Christina Lake Project. The company transports and sells its products through established distribution networks. MEG targets markets across North America and beyond. MEG is headquartered in Calgary, Alberta, Canada.
Headquarters
Canada
Address
Suite 2500, 600 - 3rd Avenue S.W., Calgary, Alberta, T2P0G5
Website
www.megenergy.com
Telephone
1 403 7662000
No of Employees
473
Industry
Energy and Utilities
Revenue (2024)
$3.8B
MEG Energy Corp premium industry data and analytics
Products and Services
| Products |
|---|
| Bitumen |
| Power |
| Oil Sands |
History
History section provides information on new products, mergers, acquisitions, expansions, approvals, and many more key events.
| Year | Event | Description |
|---|---|---|
| 2025 | Ownership Changes | In November, the company was acquired by Cenovus Energy Inc for US$7.9 billion. |
| 2025 | Stake Sale | In October, the company sold an 8.5% stake to Cenovus Energy Inc. |
| 2025 | Others | In September, the company rejected the takeover offer to sell its entire stake to Strathcona Resources Ltd, an oil and gas producer. |
Competitor Comparison
| Key Parameters | MEG Energy Corp | Imperial Oil Ltd | Suncor Energy Inc | Canadian Natural Resources Ltd | Ovintiv Inc |
|---|---|---|---|---|---|
| Headquarters | Canada | Canada | Canada | Canada | United States of America |
| City | Calgary | Calgary | Calgary | Calgary | Denver |
| State/Province | Alberta | Alberta | Alberta | Alberta | Colorado |
| No. of Employees | 473 | 5,100 | 15,010 | 10,640 | 1,623 |
| Entity Type | Private | Public | Public | Public | Public |
Executives
| Name | Position | Board | Since | Age |
|---|---|---|---|---|
| James D. McFarland | Chairman | Executive Board | 2023 | - |
| Darlene Gates | Chief Executive Officer; President; Director | Executive Board | 2024 | - |
| Ryan Kubik | Chief Financial Officer | Senior Management | 2022 | - |
| Lyle S. Yuzdepski | Secretary; Senior Vice President - Legal and Corporate Development | Senior Management | 2024 | - |
| Jim Campbell | Vice President - Communications and External Relations | Senior Management | 2023 | - |
| Non Dignissim Eros | Proin vel | Convallis | 2026 | XY |
| Non Dignissim Eros | Proin vel | Convallis | 2026 | XY |
| Non Dignissim Eros | Proin vel | Convallis | 2026 | XY |
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