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MEG Energy Corp T.MEG

Alternate Symbol(s):  MEGEF

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

Comment by BigJoe778on Aug 03, 2022 6:15pm
155 Views
Post# 34869679

RE:RE:RE:RE:Boy did Nuttall get it wrong!

RE:RE:RE:RE:Boy did Nuttall get it wrong!Cashtang you say there's a ton of oil left in the SPR? It's currently quite low compared to historical levels and if the US continues to release 1 million barrels a day then its a fact there's only a years worth of oil left in the SPR. I certainly wouldn't call that a ton. Also I believe demand is gonna rise when we get through this "recession" in the next few months. Also a fact that there has been a lack of investment in new production over the least 7-8 years. The company I work for has shelved several large products. Also OPEC and OPEC+ have been falling short of reaching thier production quotas in the last number of months. US shale growth is also very limited so where will the extra supply come from to meet the increase in demand that will be coming once countries stop with the silly Covid lockdowns and the world gets inflation under control? I'm not a Nuttal fan but I'm able to find enough information out there outside of what the US government reports to know that we're in a very tight oil market that will easily get much worse with just a modest increase in demand. 
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