Capital Markets | Capital Expenditure | Capital Expenditure - 2020 | 2020 Guidance
MEG To Increase 2020 Capital Spending 25% Year over Year
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Meg today released it 2020 capital program, and here is a quick read through.
2020 capital budget will be $250 million up $50 million from planned 2019 spending. Production is expected to aveage 95,500 barrels of oil per day (mid-point of the guidance). This production is based on the assumption that MEG will exit the year with 96,000 - 100,000 bpd. So in essense, even with the +$50 million increase in spending, production will be down from Q4 19 exit rate.
4Q 2019 Exit production rates
"MEG 2020 production guidance is based on MEG entering and exiting the year with productive capacity of approximately 96,000 bpd and 100,000 bpd, respectively and includes the impact of a major 25-day turnaround planned for September 2020, which is expected to impact annual production levels by…
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