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 > FIRST SOLVENT SAGD @ Imperial Oil Doing VERY WELL In STARTUP

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Comment by ztransforms173on Nov 01, 2024 12:52pm

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Post# 36292531

RE:FIRST SOLVENT SAGD @ Imperial Oil Doing VERY WELL In STARTUP

Phase 1 of the project will see development of the Grand Rapids Formation with a capacity of 15,000 barrels of oil per day. Upon full build out of all four phases, the site will produce 50,000 barrels. The SA-SAGD process adds solvents to the injected steam used in typical SAGD oil sands technology.

Municipality:	Bonnyville No. 87
Sector:	Oil and Gas
Type:	Oil Sands: In Situ
Schedule:	Completion by 2024
Estimated Cost:	$360.0M
Stage:	Completed
Developer:	Imperial Oil

https://majorprojects.alberta.ca/details/Grand-Rapids-SA-SAGD-Phase-1/11178

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- $24.000 per FLOWING barrel is a VERY CAPITAL EFFICIENT INVESTMENT given the LOWER OPERATING COSTS & CARBON TAXES

z173

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