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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

Post by ztransforms173on Jul 28, 2023 10:30am
498 Views
Post# 35561441

Largest In-Depth TURNAROUND In MEG's History

Largest In-Depth TURNAROUND In MEG's History
- cost: $ 66 million

from Q2/2023 CC: COO:

- 220,000 man-hours of labor utilized

- BOP PENALTY in LOST production of 20,000 bbls/d for Q2/2023

- did NOT complete ALL the WELL TIE-INS during major turnaround due to SUPPLY CHAIN ISSUES

- since these tie-ins will be done in Q3/2023, there will be REDUCED BOP due to CUTTING OFF STEAM to perform these tie-ins

- there is a SHORTAGE of QUALIFIED CONTRACT WORKERS and invoice inflation on this manpower is double digits

z173


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