Forecast - Production | Capital Markets | Capital Expenditure | Capital Expenditure - 2019
MEG to Spend $200MM in 2019; Majority of Capital Allocated to DUCs
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MEG Energy Corp. detailed its 2019 capital investment plan and operational guidance.
*All figures are in Canadian dollars
Highlights:- 2019 Capex: $200 million
MEG has earmarked an additional $75 million to add to the budget should commodity volatility stabilize by mid-year Spending is largely directed towards the completion and tie-in of sustaining wells.- 2019 Production Guidance: 90,000-92,000 BPD
While MEG has the ability to average 100,000 bpd of production in 2019, however the Alberta Government mandated production curtailments - the company aims to hit 113,000 BPD in production by year-end 2020 Investment PlansMEG plans to invest $40 million towards growth projects during the year, setting the stage for production growth beyond 2019. Growth capital includes approximately…
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