Production Rates | Forecast - Production | Capital Markets | Capital Expenditure
MEG Energy Ups Production While Slashing Capital Spend for 2016
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MEG Energy has announced its 2016 capital investment plan and operational guidance.
All dollar figures are in $Cdn unless otherwise noted.
Highlights: A 2016 capital budget of $328 million, approximately 70% of which is directed towards sustaining 2015 production levels and 20% towards capturing productivity gains associated with eMSAGP and positioning MEG for future growth through brownfield expansions; Financial resources available to the corporation to fund its 2016 capital program include internally generated cash flow, proceeds of $110 million from the sale of a non-core asset in the fourth quarter of 2015, and cash on hand; A targeted production increase to a range of 80,000 to 83,000 barrels per day (bpd) compared to the 2015 guidance of 78,000 to 82,000 bpd; Non-energy operating…- ✓ Full news archive — U.S., Canada & international coverage
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