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.

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MEG Energy Corp > Chistina Lake: Now In POST PAYOUT Royalty Status

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Comment by ztransforms173on Jul 27, 2023 5:29pm

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Post# 35560529

RE:Chistina Lake: Now In POST PAYOUT Royalty Status

The Corporation's Christina Lake operation reached post-payout status under the Oil Sands Royalty Regulation during the second quarter of 2023 resulting in an increase in the effective royalty rate as expected. The impact of this higher post-payout rate was offset by lower gross revenue relative to the second quarter of 2022 and, as a result, the total royalty burden was consistent across both periods.

The Corporation sold 82% and 79% of its blend sales volumes in the USGC market during the second quarters of 2023 and 2022, respectively. Average heavy oil apportionment on the Enbridge mainline system was 1% and 0% in those periods.

z173