MEG Energy Corp T.MEG

Alternate Symbol(s): MEGEF

Energy Oil & Gas Refining & Marketing

MEG Energy Corp. is a Canada-based energy company focused on in-situ thermal oil production in the southern Athabasca oil region of Alberta, Canada. The Company is engaged in the development of enhanced oil recovery projects that utilize steam-assisted gravity drainage extraction methods to improve the economic recovery of oil. It transports and sells thermal oil (AWB) to customers throughout North America and internationally. The Company owns a 100% interest in over 410 square miles of mineral leases in the southern Athabasca oil region of Alberta, Canada and is primarily engaged in sustainable in situ thermal oil production at its Christina Lake Project. Christina Lake Project is a multi-phased project, located 150 kilometers south of Fort McMurray in northeast Alberta. It comprised of approximately 200 square kilometers of leases.

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MEG Energy Corp

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Post by shambano1on Jun 06, 2016 12:02pm

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Post# 24938005

FP says MEG, others prioritizing smaller projects

2016-06-02 09:06 ET - In the News

Also In the News (C-CVE) Cenovus Energy Inc
Also In the News (C-SU) Suncor Energy Inc
Also In the News (C-TCK) Teck Resources Ltd

The Financial Post reports in its Thursday, June 2, edition that oil sands projects in the future will be smaller and easier to build says oil sands player Husky Energy. The Post's Geoffrey Morgan writes that the rout in oil prices has caused many oil sands executives to rethink whether they want to spend billions of dollars in capital on megaprojects that take multiple years to complete before they start generating cash. The result could be a more gradual buildup in oil sands production, through smaller project phases, rather than production gains in large increments. FirstEnergy Capital analyst Michael Dunn says many oil sands companies are prioritizing smaller, repeatable projects because the companies "don't have as much capital to deploy and smaller projects typically get higher rates of return." Mr. Dunn says MEG Energy, Cenovus Energy and Suncor Energy have all used smaller and de-bottlenecking projects to boost production. Suncor, along with joint-venture partners Teck Resources and Total S.A., is also in the process of building its Fort Hills oil sands mine, a big project, but Mr. Dunn says it sanctioned that project before oil prices crashed.