Bullboard - Stock Discussion Forum 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... see more

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TSX:MEG - Post Discussion

MEG Energy Corp > HUGE Q2/25 TURNAROUND: $70M COST + 2.9M bbls LOST

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Post by Ztransformer on Nov 25, 2024 7:46pm

HUGE Q2/25 TURNAROUND: $70M COST + 2.9M bbls LOST

The 2025 annual production guidance includes major turnaround activities in Q2, with a full-year production impact of up to 8,000 bbls/d. Production reflects the startup of two new well pads in 2025, with the first on-stream in Q3 and the second in Q4, supporting the building of annualized capacity for future production.

MEG's total 2025 capital program is expected to be $635 million, with $130 million allocated to the Facility Expansion Project, $70 million to Turnaround, and the remaining $435 million to Well Pads & Infrastructure and Other. Turnaround activity reflects ten-year regulatory requirements and facilitates the safe and efficient completion of Facility Expansion Project tie-ins.

- GREAT EXPENSE REDUCTION & BOP INCREASE:

With the conclusion of the 2025 turnaround, MEG will be in a position to implement four-year turnaround cycles, compared with its historical practice of three-year cycles, on each Phase of its operation.

- MEG has TWO PHASES in OPERATION at the Chistina Lake SAGD facility:

* Phase 1 & Phase 2B

Z172