MEG Energy Corp T.MEG

Alternate Symbol(s): MEGEF

Energy Oil & Gas E&P

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.

TSX:MEG - Post by User

MEG Energy Corp

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Comment by MOJOJONOon Jan 22, 2019 8:08am

91 Views

Post# 29263270

RE:RE:MEG Is SLAMMING The Brakes HARD On 2019 Capex: $ 200 Million

huge change from 2018. Thx to oil staying low.... 2018 capital plan was $510 million....
2019 now with a $200 million capital plan with production in 92k range. $115 million for sustaining and maintenance ($3.5/barrel). 2018 with $510 million with 85k range production and using $220 million on sustaining and maintenance ($7/barrel). MEG is cutting to the bone with this significantly reduced maintenance.

another thing of interest. 2019 they specifically say funding is through cash and a undrawn credit facility that matures November 2021. Last year they said funding would come from cash flow.

Things are definitely tighter in this environment.

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