Meg Energy Earnings Rise to $106 Million in Fourth Quarter, Revenues Decline

Meg Energy Corp. says it earned $106 million in its fourth quarter, up from $103 million a year earlier.

The Calgary-based company says revenues totalled $1.15 billion, down from $1.44 billion during the same quarter last year.

Diluted earnings per share were 40 cents, up from 37 cents a year earlier.

Bitumen production averaged about 100,139 barrels per day during the period ended Dec. 31.

President and CEO Darlene Gates said 2024 was the company’s fourth straight year of record production.

Meg Energy’s earnings for the full year declined to $507 million, while its revenue was also down year-over-year at $5.15 billion.

This report by The Canadian Press was first published Feb. 27, 2025.

Companies in this story: (TSX:MEG)

The Canadian Press

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