MEG Energy Reports $67M in Q2 Profit, Down From Last Year

Oilsands producer MEG Energy Corp. says its profits fell during the second quarter compared with a year earlier.

Net earnings for the quarter came in at $67 million, or 26 cents per diluted share, compared with $136 million, or 50 cents per diluted share, during the same period last year.

Revenue came in at $757 million during the quarter, down from $1.37 billion a year earlier.

Production for the quarter was 63,502 barrels per day compared with 100,531 barrels per day during the same period last year.

MEG Energy also announced its board of directors approved a 10 per cent increase to its dividend, to 11 cents per share.

Darlene Gates, MEG Energy’s chief executive, says the company looked to execute on its planned turnaround during the quarter alongside wildfire-related challenges.

This report by The Canadian Press was first published July 31, 2025.

Companies in this story: (TSX:MEG)

The Canadian Press

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