Exploration & Production | Quarterly / Earnings Reports | Production | Second Quarter (2Q) Update | Oil Sands
MEG Doubles Production Over Last Year
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MEG Energy Corp. today reported second quarter 2014 operational and financial results.
Highlights include: Record cash flow from operations of $261.7 million; Record quarterly production of 68,984 barrels per day (bpd), nearly 18 per cent higher than the first quarter and 115 per cent higher than the second quarter of 2013, all while factoring in the impact of planned maintenance on Phases 1 and 2; Christina Lake Phase 2B reaching design capacity seven months after first oil production; 2014 production guidance increased eight per cent to 65,000 to 70,000 bpd, reflecting strong operational performance; Completion of the Phase 1 and 2 plant turnaround, with inspections and maintenance confirming assets are in good operating condition.Bill McCaffrey, MEG President and Chief Executive…
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