MEG current productionI checked the recetn presentation and there is a graph that shows MEG's current production approaching 90,000 bpd. Now it doesn't say it specificially but the charts looks pretty close.
even if they got up to 87,000 in q3, that is pretty good in a low price environment.
I don't think MEG is getting any credit for the cost savings they have made and the highly efficient operations and processes that have.
they are using much less steam than a typical sagd operator and they can grown production and make money at current commodity prices.
once they decide on the brownfield expansion we are talking even lower operating costs and growth of production of 15-20,000 bpd.
I am truelly surprised thay have not been swallowed up by the big operators.
but every one is so nervous these days with their balance sheets, they don't want to take on more debt at least until prices recover further.
oh well, pretty quiet here if you have the bashers on ignore.
GL longs and shorts
p.s. if you are short I'd cover before next week's OPEC meeting, you don't want to be short in case they surprise the market with a co-operative statement and even worse an actual hard deal.