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phase 1 and 2A combined) didn't begin until 2011. When combined with phase three, total production will exceed 200,000 barrels per day (32,000 m/d) with 2020 production estimated at 260,000 bbls/d. The pipeline system used to carry bitumen out and diluent in is the 343-kilometre (213 mi) Access
Pipeline which MEG co owns with Devon ARL Corp.
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MEG Energy was founded in 1999 as McCaffrey Energy Group Inc by CEO and
President Bill McCaffrey, Director and Corporate Secretary David Wizinsky and former Director Steve Turner. It went public with an IPO of $ 660 million in August 2010. At the time it was considered a $ 9.7 billion equity cap
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includes 80 blocks/sections. It is a three phase project that was operating at 12.4% (26,000 bbls/d) of total expected production capacity at the end of 2010. Since 2009 the first two phases were producing, albeit at a low level because construction of phase 2B (design capacity 40% larger than
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are created. Oil is directed to the lowest well after injecting steam into the one above it in order to heat the area so that the liquid in the area flows downwards (allows for the separation of oil from sand). The steam used comes from MEG's cogeneration plants.
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In 2012 bitumen production averaged 28,773 bpd, +2,168 bpd versus the previous year. By the second quarter of 2013 average production had reached 32,144 bpd, +1,715 bdp. Also up is the realized oil price per barrel: $ 53.98 vs $ 45.59.
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plants are used to produce the steam used in SAGD which is required to bring bitumen to the surface. The excess heat and electricity produced at its plants is then sold to
Alberta's power grid. Its
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Phase 3 - the most important part of the project is currently awaiting regulatory approval (May 2011). Estimated production is 150,000 barrels per day (24,000 m/d).
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360:, China's 3rd biggest oil and natural gas company purchased a 16.69% interest in MEG Energy for $ C150 million (13.6 million common shares).
325: m) of bitumen in Alberta is considered recoverable under current technology. The value of those reserves is over $ 19.8 billion.
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The company's leases cover over 20,000 acres (8,100 ha) of land. The leases give MEG access to over 650 million barrels (103
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company. The
Christina Lake project first received approval from the government in 2008, it was one of six
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262:. All of its oil reserves are more than 1,000 feet (300 m) below the surface and so they depend on
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In
October 2018, Husky Energy put it in a hostile takeover bid to acquire MEG Energy Corp.
292: m) and probable reserves (also called recoverable resource) 3.7 billion barrels (590
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45:
555:"People's Daily Online -- CNOOC LTD. Acquires stake of Canada-based MEG Energy Corp"
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416: m) of contingent resources. Production isn't expected to begin until 2018.
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455:"MEG Energy | MEG Energy Names Derek Evans as New Chief Executive Officer"
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must first be brought to the surface). The company's main thermal project is
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625:"Oil sands company MEG plants $ 500 million senior notes offering"
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305:); That's significant considering only 300 billion barrels (48
697:"MEG chief says Husky can 'pay a lot more' in takeover offer"
639:"Oilsands company MEG Energy to spend $ 1.37 billion in 2012"
302: m) (by engineering firm GLJ Petroleum Consultants Ltd
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have been independently pegged at 1.7 billion barrels (270
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1999 by
William J McCaffery as McCaffery Energy Group Inc
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Non-renewable resource companies established in 1999
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733:Companies listed on the Toronto Stock Exchange
593:"MEG Energy doubling size of oilsands project"
332:Within nine months of going public it reached
329:has a minority 16.69% interest in MEG Energy.
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266:and associated technology to produce (heavy
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315: m) of the 1.6 trillion barrels (250
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536:: CS1 maint: archived copy as title (
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16:Canadian oil sands production company
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657:"MEG Energy Christina Lake Phase 3"
258:producer engaged in exploration in
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570:"MEG Energy launches massive IPO"
398:also produces at Christina Lake.
336:company status after a small cap
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662:. September 2007. Archived from
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434:two horizontally parallel wells
264:steam-assisted gravity drainage
136:(569,460 GJ) per day(2019)
758:1999 establishments in Alberta
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568:Willis, Andrew (2010-06-14).
641:. 2011-12-06. Archived from
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753:Companies based in Calgary
743:Bituminous sands of Canada
607:"Plantsuccess 2008 Canada"
428:Initial production process
388:The company operates the
134:barrels of oil equivalent
24:
680:Canada Flight Supplement
390:Christina Lake Aerodrome
738:Oil companies of Canada
609:. 2008. Archived from
353:in Canada that year.
132:93.082 thousand
469:"Meg Energy reports"
66:Oil and gas industry
221:Number of employees
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574:The Globe and Mail
377:MEG's interest in
356:April 14, 2005 -
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185:C$ 7,866 million
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128:Production output
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87:, Alberta, Canada
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100:chair, pres, ceo
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20:MEG Energy Corp.
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280:proven reserves
274:. 85-megawatt
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225:485 (June 2013)
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98:Derek W. Evans
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379:Christina Lake
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521:. Retrieved
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483:. Retrieved
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420:Takeover Bid
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276:cogeneration
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201:Total equity
180:Total assets
80:Headquarters
34:Company type
121:Electricity
727:Categories
576:. Toronto.
523:2021-01-12
485:2021-01-12
441:References
432:Initially
364:Production
248:MEG Energy
237:.megenergy
159:Net income
103:Dale Hohm
94:Key people
358:CNOOC Ltd
334:large cap
256:oil sands
254:Canadian
252:pure play
117:Petroleum
46:Traded as
532:cite web
113:Products
62:Industry
402:Surmont
344:History
268:bitumen
230:Website
141:Revenue
85:Calgary
72:Founded
54::
208:(2019)
187:(2019)
151:(2019)
38:Public
667:(PDF)
660:(PDF)
517:(PDF)
510:(PDF)
479:(PDF)
472:(PDF)
327:CNOOC
250:is a
166:(2019
538:link
239:.com
214:.85%
338:ipo
235:www
172:43%
106:cfo
56:MEG
52:TSX
729::
582:^
572:.
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530:{{
494:^
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193:6%
699:.
684:Z
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526:.
488:.
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414:^
408:×
323:^
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284:×
Text is available under the Creative Commons Attribution-ShareAlike License. Additional terms may apply.
