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.
MEG Energy Corp.
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MEG Energy Corp. reported third quarter 2018 operating and financial results that feature a record quarterly production volume, record low per barrel operating costs, and solid funds flow for the period.
MEG Energy Corp. announced its Board of Directors has unanimously determined that Husky Energy's unsolicited bid to acquire MEG significantly undervalues the common shares of MEG and is NOT in the best interests of MEG or the holders of Common Shares.