MEG Energy Initiates Share Buyback Program

MEG Energy Corp. MEG MEGEF has repurchased 3.4 million shares for cancellation using the block purchase exception under its normal course issuer bid.

MEG Energy made the purchase as part of a 15 million share block trade on the TSX for C$21.85 per share. Other institutional shareholders purchased the remaining shares of the block.

MEG has 23.6 million shares remaining under its current NCIB, which expires on March 9, 2023.

Price Action: MEG shares are trading lower by 3.53% at C$21.86 on TSX, and MEGEF higher by 0.43% at $17.28 on the last check Tuesday.

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