About MEG Energy
MEG Energy is a publicly listed company based in Calgary (Canada) founded in 1999, and was acquired by Cenovus in August 2025. Exploration and Development Company Focused on Oil Sands in Alberta. MEG Energy has raised $44 million across 3 funding rounds from investors including Warburg Pincus, Cenovus and Seymour Schulich. The company has 475 employees. Its website megenergy.com draws about 13 thousand monthly visits. Its focus areas include Energy, Oil & Gas Upstream and Exploration and Production.
Company details
MEG Energy was founded in 1999 and is headquartered in Calgary, Canada. Operations are centered on the in-situ development and production of oil sands within Albertas Southern Athabasca region, with a primary focus on the Christina Lake area. Innovative extraction techniques are employed to support these activities in the energy sector. Exploration efforts are directed toward sustainable resource recovery in this geography.
- Headquarters Calgary, Canada
- Employees 475
- Stage Public
- SectorsEnergy & Utilities
- Website megenergy.com
- Social LinkedIn Facebook
- Acquired by Cenovus (Aug 2025)
- Legal Name Meg Energy Corp.
- Annual Revenue$3.58 B (USD)-8.92as on Dec 31, 2024
- Net Profit$352.38 M (USD)-10.9as on Dec 31, 2024
- EBITDA$1.04 B (USD)-1.77as on Dec 31, 2024
- Total Equity Funding$44M (USD)
in 3 rounds
- InvestorsWarburg Pincus
& 2 more
- Employee Count475
- Acquired byCenovus
(Aug 2025)
Funding Insights of MEG Energy
MEG Energy has successfully raised a total of $44M across 3 strategic funding rounds. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $44M
- Total Rounds 3
- First Round $44M
(Mar 2004)
- Investors Count 2
All 3 funding rounds of MEG Energy with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jun 2019 | Post-IPO | – | – | ||
| Jan 2010 | $10.4M | Unspecified | – | – | – |
| Mar 2004 | $44M | Private Equity Round | – | – |
3 investors in total: 2 institutional and 1 angel.
Investors in MEG Energy
MEG Energy has secured backing from 3 investors, including angel, venture fund, and institutional investors. Prominent investors backing the company include Warburg Pincus, Cenovus and Seymour Schulich.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Multi-stage private equity investments are pursued across diverse sectors. | 1966 | warburgpincus.com | New York, United States | |
Provider of natural gas & oil refining, transportation, storage, and marketing services | 2009 | cenovus.com | Calgary, Canada | |
SS Seymour Schulich | unknown_311385d62d9d40a29 |
Investor details for MEG Energy
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People of MEG Energy
159 people are tracked at MEG Energy (18 in leadership, 10 in board & advisors, 131 in team); the tracked headcount is 475.
| Name | Role | Group |
|---|---|---|
Bob Hodgins | Director | Leadership |
Raegan Stewart | Director, Subsurface | Leadership |
Ryan Kubik | CFO | Leadership |
Derek Evans | President, CEO & Director | Leadership |
Darlene Gates | COO | Leadership |
Chi-Tak Yee | CTO | Leadership |
Jim Harris | Director Of Operations | Leadership |
Scott Carrothers | VP Finance | Leadership |
Peter Collins | Director, Information Technology | Leadership |
O A | Commercial Director | Leadership |
Tom Gear | Senior Vice President Production | Leadership |
Darcy Chattell | Director, Human Resources | Leadership |
Charles Lawrence | Director, Production Projects | Leadership |
Mike Dlugan | Vice President, Development | Leadership |
John Ediger | VP Land | Leadership |
Aryn Mything | Acting Director HSE | Leadership |
Ardy Arefi | Director Of Operations | Leadership |
Stephen Schaaf | Engineering Director | Leadership |
Robert B. Hodgins | Director | Board & advisors |
Jeffrey J. McCaig | Director | Board & advisors |
139 more people are available in the full profile.
Complete people profiles for MEG Energy
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IPO & Listings of MEG Energy
MEG Energy is a publicly listed company on the TSX with ticker symbol MEG in Canada, operating in the Energy minerals sector. As a publicly traded entity, the company provides investors with opportunities to participate in its growth story through equity ownership. The listing enables access to capital markets, enhances corporate visibility, and provides liquidity for shareholders while maintaining transparency through regulatory compliance and regular financial disclosures.
- IPO date06 Aug 2010
- Listed onTSX: MEG
- Listed entityMEG Energy Corp.
- Exchange sectorEnergy minerals
- Share price30.89 CAD (+0.72% on the day) · 2025-11-17
- Market capitalisation7,846,059,845.00 CAD
- Price to earnings14.7
- EPS (diluted, trailing year)2.10 CAD
- Dividend yield1.33%
- Volume (last session)6,350,674
- Analyst consensusNeutral
Financials of MEG Energy
| Year | Revenue | Net income | EBITDA |
|---|---|---|---|
| 2024 | 5.15B CAD | 507.0M CAD | 1.50B CAD |
| 2023 | 5.65B CAD | 569.0M CAD | 1.52B CAD |
| 2022 | 6.12B CAD | 902.0M CAD | 2.08B CAD |
| 2021 | 4.32B CAD | 283.0M CAD | 1.36B CAD |
| 2020 | 2.29B CAD | -357.0M CAD | -160.0M CAD |
Detailed financial statements for MEG Energy
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Timeline of MEG Energy
5 dated milestones of MEG Energy across 26 years, from founding to its latest funding, stage changes and deals.
- Founded MEG Energy is founded.
- Funding First funding round of $44.0M.
- IPO Lists on the stock exchange (IPO).
- Funding Latest funding round, Post-IPO,.
- Exit Acquired by Cenovus.
Web traffic of MEG Energy
The website of MEG Energy (megenergy.com) receives about 12.8K visits a month.
- Monthly visits12.8K
▲ 10.5% vs previous month
Websites whose visitors overlap most with MEG Energy. Affinity shows how closely the audiences match.
| Website | Domain | Audience affinity | Monthly visits | Global rank | Profile |
|---|---|---|---|---|---|
| boereport.com | 100% | #267,201 | View details | ||
| baytexenergy.com | 99% | 9.6K | #2,268,347 | View details | |
plascoenergygroup.com | plascoenergygroup.com | 95% | – | ||
energyeastpipeline.com | energyeastpipeline.com | 90% | – | ||
bcsea.org | bcsea.org | 87% | #5,096,601 | – | |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
All 16 similar websites and full traffic analytics for MEG Energy
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Frequently Asked Questions about MEG Energy
MEG Energy was founded in 1999 and raised its 1st funding round 5 years after it was founded.
MEG Energy is headquartered in Calgary, Canada. It is registered at Calgary, Alberta, Canada.
MEG Energy is a funded company, having raised a total of $44M across 3 funding rounds to date. The company's 1st funding round was a Private Equity Round of $44M, raised on Mar 2004.
MEG Energy has 475 employees.
Annual revenue of MEG Energy is $3.58B as on Dec 31, 2024.
MEG Energy was founded in 1999 and is headquartered in Calgary, Canada. Operations are centered on the in-situ development and production of oil sands within Albertas Southern Athabasca region, with a primary focus on the Christina Lake area. Innovative extraction techniques are employed to support these activities in the energy sector. Exploration efforts are directed toward sustainable resource recovery in this geography.
Yes, MEG Energy is publicly traded on TSX under the ticker symbol MEG.
MEG Energy has 3 investors. Key investors include Warburg Pincus, Cenovus, and Seymour Schulich.
Yes. MEG Energy was acquired by Cenovus in August 2025.