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MEG Energy Doubled Production in 2014
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MEG Energy Corp. has reported fourth quarter and full-year 2014 operating and financial results.
Highlights include: Record quarterly production of 80,349 barrels per day (bpd) and record annual production of 71,186 bpd, more than double 2013 annual volumes; Record-low quarterly non-energy operating costs of $6.42 per barrel and record-low annual non-energy operating costs of $8.02 per barrel; Quarterly cash flow from operations of $134 million, contributing to record annual cash flow from operations of $791 million; Year-end cash and cash equivalents of $656 million.Bill McCaffrey, President and Chief Executive Officer said: "With the successful ramp-up of Christina Lake Phase 2B and the continuing implementation of MEG’s RISER initiative, we have built a low-cost production base…
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