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MEG Energy Plans $510 Million Capex in 2018, Eyes 100,000 Barrels Per Day of Oil at Year's End

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SUGAR LAND--December 4, 2017--Researched by Industrial Info Resources (Sugar Land, Texas)--MEG Energy Corporation (TSX:MEG) (Calgary, Alberta) announced a capital budget of $510 million for 2018, which is expected to push the company's total oil production to average between 85,000 and 88,000 barrels per day (BBL/d), compared with its 2017 projection of 80,000 to 82,000 BBL/d. At the end of the 2018, production is expected to reach 95,000 to 100,000 BBL/d. Most of the budget will go to drilling new wells. Industrial Info is tracking more than $14 billion in active projects involving MEG.

Within this article: Details on MEG's plans to boost its oil production, particularly at Christina Lake in Alberta.

Other companies featured: General Electric (NYSE:GE)

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Industry Segment: Production
Word Count: 554 Words

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