Edition:
United States

MEG Energy Announces 2018 Capital Investment Plan


Friday, 1 Dec 2017 06:30am EST 

Dec 1 (Reuters) - MEG Energy Corp ::MEG ENERGY ANNOUNCES 2018 CAPITAL INVESTMENT PLAN SUPPORTING PRODUCTION TO 100,000 BPD, SETS THE STAGE FOR CONTINUED GROWTH IN 2019.MEG ENERGY CORP - SEES A 2018 CAPITAL BUDGET OF $510 MILLION.MEG ENERGY - FINANCIAL RESOURCES AVAILABLE TO CO TO FUND ITS 2018 CAPITAL PROGRAM INCLUDE EXPECTED INTERNALLY GENERATED CASH FLOW AND CASH ON HAND.MEG ENERGY CORP - TARGETED 2018 AVERAGE PRODUCTION IN RANGE OF 85,000 TO 88,000 BPD, 2018 EXIT PRODUCTION IN RANGE OF 95,000 TO 100,000 BPD.MEG ENERGY CORP - SEES A 2018 CAPITAL BUDGET OF $510 MILLION.MEG ENERGY - TO INVEST REMAINING $120 MILLION OF ESTIMATED COST TO COMPLETE IMPLEMENTATION OF EMSAGP GROWTH INITIATIVE AT CHRISTINA LAKE PHASE 2B IN 2018.MEG ENERGY CORP - 2018 CAPITAL PROGRAM SETS STAGE FOR PRODUCTION GROWTH OF APPROXIMATELY 8 TO 10% IN 2019.MEG ENERGY CORP - RELATED NON-ENERGY OPERATING COSTS FOR 2018 ARE ANTICIPATED TO BE IN RANGE OF $4.75 TO $5.25 PER BARREL.MEG ENERGY CORP - 2018 OPERATIONAL GUIDANCE TAKES INTO ACCOUNT A 35-DAY TURNAROUND AT CHRISTINA LAKE PHASE 2B PRODUCTION FACILITY PLANNED FOR Q2 2018. 

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