MEG Energy Corp MEGEF

Primary Symbol: T.MEG

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 > CC: First Impression: NEW CEO DG: A BIT SHAKY BUT OK

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Comment by ztransforms173on May 07, 2024 10:52am

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Post# 36026806

RE:RE:CC: First Impression: NEW CEO DG: A BIT SHAKY BUT OK

easy:

- they are DRILLING 2 well pads with 2 drilling rigs this year instead of the NORMAL one well pad with a SINGLE drilling rig

* GIVEN the STEAM AVAILABILITY {and they are NEAR their MAX CAPACITY hence the DECISION on the THIRD PROCESSING TRAIN in the fall of 2024}, MORE WELL MEANS MORE BOP

- remember, that they are in a THREE YEAR (2024-2026) GROWTH PLAN {with a CAPEX of $ 300 million over 3 years} to BUMP UP BOP from 110,000 bbls/d to 125,000 bbls/d

z173

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