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MEG Energy's (MEGEF) CEO Derek Evans on Q1 2020 Results - Earnings Call Transcript

May 05, 2020 2:41 PM ETMEG Energy Corp. (MEGEF), MEG:CA
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MEG Energy Corp. (OTCPK:MEGEF) Q1 2020 Earnings Conference Call May 5, 2020 8:30 AM ET

Company Participants

Derek Evans – Chief Executive Officer

Eric Toews – Chief Financial Officer

Chi-Tak Yee – Chief Operating Officer

Conference Call Participants

Mike Dunn – Stifel FirstEnergy

Phil Skolnick – Eight Capital

Greg Pardy – RBC Capital Markets

Manas Gupta – Credit Suisse

Joe Gemino – Morningstar


Good morning. My name is Colin, and I will be your operator today. At this time, I would like to welcome everyone to the MEG Energy 2020 First Quarter Results Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers’ remarks, there will be a question-and-answer session. [Operator Instructions]

Thank you. Mr. Derek Evans, CEO, you may begin your conference.

Derek Evans

Thank you, Colin. Good morning, everyone, and thanks for joining us to review MEG's first quarter 2020 operating and financial results. I have on the line with me Eric Toews, our CFO; Chi-Tak Yee, our Chief Operating Officer; and Lyle Yuzdepski, our General Counsel and Corporate Secretary. This is the first time that we have not all been in the same room together while hosting this call, so please bear with us through any technical challenges.

Just a reminder that this call contains forward-looking information. Please refer to the advisories in our disclosure documents filed on SEDAR and on our website. Past few months have delivered an unprecedented challenges, the COVID pandemic, associated demand destruction and resulting impact to oil prices has created real challenges to the health and safety of our employees and to the short-term viability of our business.

MEG is responding proactively to the safety and financial challenges associated with the COVID-19 pandemic. At this time only essential staffs are working at our sites and

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