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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 Nov 01, 2024 12:41pm
122 Views
Post# 36292501

FIRST SOLVENT SAGD @ Imperial Oil Doing VERY WELL In STARTUP

FIRST SOLVENT SAGD @ Imperial Oil Doing VERY WELL In STARTUP
Cold Lake quarterly gross production averaged 147,000 barrels per day supported by the strong ramp up of Grand Rapids using solvent-assisted SAGD technology. Grand Rapids produced 15,000 barrels per day throughout the quarter and averaged 20,000 barrels per day during the month of September, exceeding earlier projections.


The strong ramp up of Grand Rapids, industry’s first commercial application of solvent-assisted SAGD, is a major milestone in the transformation of our Cold Lake asset which supports our long-term strategy to grow production, lower unit cash costs1 and reduce greenhouse gas intensity,” said Corson.

 
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