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MEG Energy Corp.

Address 600 – 3 Avenue SW, Calgary, AB, T2P 0G5, CA
Telephone 403-770-0446
Website megenergy.com

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MEG announces capital investment plan, targets 113,000 bpd in 2020

MEG Energy Corp. has announced its 2019 capital investment plan and operational guidance. Highlights include a base capital budget of $200 million, to be fully funded with expected 2019 adjusted funds flow from operations, designed to sustain production capability at 100,000 barrels per day (bpd) in 2019 and 2020, as well as fund future growth projects beyond 2019; and a discretionary capital budget of $75 million, which would not be sanctioned until mid-2019 subject to market conditions at that time. Capital would be focused on advancing MEG's Phase 2B Brownfield expansion and allow MEG to achieve its previously announced target of reaching 113,000 bpd in 2020.