Competitive cash operating cost profile compared with that of other oil sands producers, leading to top-quartile profitability measures Large in-situ oil sands resource base, which provides significant organic reserves and production growth prospects Single-product focus, which heightens vulnerability to volatility in crude oil price differentials Forecast weak-but-improving cash flow protection metrics due to low prevailing commodity prices Strong liquidity supported by the availability under committed credit facilities The stable outlook reflects S&P Global Ratings' view that MEG Energy Corp.'s overall credit profile will remain consistent with our expectations for the 'BB-' rating throughout our 2017-2018 outlook period. Although we forecast the company's cash flow adequacy and leverage metrics to remain weak in 2017 and 2018, we believe MEG's business risk
