About MEG Energy
MEG Energy is a company based in Calgary (Canada) founded in 1999 was acquired by Cenovus in August 2025.. MEG Energy has raised $54.4 million across 3 funding rounds from investors including Warburg Pincus, Cenovus and Seymour Schulich. The company has 475 employees as of December 31, 2024.
- Headquarter Calgary, Canada
- Employees 475 as on 31 Dec, 2024
- Stage Public
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Sectors
Energy & Utilities
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Meg Energy Corp.
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Annual Revenue
$3.58 B (USD)-8.92as on Dec 31, 2024
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Net Profit
$352.38 M (USD)-10.9as on Dec 31, 2024
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EBITDA
$1.04 B (USD)-1.77as on Dec 31, 2024
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Total Equity Funding
$54.4 M (USD)
in 3 rounds
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Latest Funding Round
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Investors
Warburg Pincus
& 2 more
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Employee Count
475
as on Dec 31, 2024
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Acquired by
Cenovus
(Aug 22, 2025)
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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.
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Funding Insights of MEG Energy
MEG Energy has successfully raised a total of $54.4M 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 Total Funding
- Total Rounds 3
- Last Round Last Round
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First Round
First Round
(25 Mar 2004)
- Investors Count 2
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jun, 2019 | Amount | Post-IPO - MEG Energy | Valuation |
investors |
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| Jan, 2010 | Amount | Unspecified - MEG Energy | Valuation |
investors |
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| Mar, 2004 | Amount | Private Equity Round - MEG Energy | Valuation |
investors |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Multi-stage private equity investments are pursued across diverse sectors.
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Founded Year | Domain | Location | |
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Provider of natural gas & oil refining, transportation, storage, and marketing services
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Founded Year | Domain | Location | |
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SS
Seymour Schulich |
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
|
Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by MEG Energy
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
|
2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - MEG Energy
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Meg Energy Comparisons
Competitors of MEG Energy
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
|
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Meg Energy
Frequently Asked Questions about MEG Energy
When was MEG Energy founded?
MEG Energy was founded in 1999 and raised its 1st funding round 5 years after it was founded.
Where is MEG Energy located?
MEG Energy is headquartered in Calgary, Canada. It is registered at Calgary, Alberta, Canada.
Is MEG Energy a funded company?
MEG Energy is a funded company, having raised a total of $54.4M across 3 funding rounds to date. The company's 1st funding round was a Private Equity Round of $44M, raised on Mar 25, 2004.
How many employees does MEG Energy have?
As of Dec 31, 2024, the latest employee count at MEG Energy is 475.
What is the annual revenue of MEG Energy?
Annual revenue of MEG Energy is $3.58B as on Dec 31, 2024.
What does MEG Energy do?
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.
Is MEG Energy publicly traded?
Yes, MEG Energy is publicly traded on TSX under the ticker symbol MEG.
Who are MEG Energy's investors?
MEG Energy has 3 investors. Key investors include Warburg Pincus, Cenovus, and Seymour Schulich.
What is MEG Energy's ticker symbol?
The ticker symbol of MEG Energy is MEG on TSX.