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Released May 19, 2025 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--Strathcona Resources Limited (Calgary, Alberta) is making some bold moves that could broaden its influence over Canada's Oil & Gas Industry. The producer recently added a major oil and gas terminal to its portfolio, and it launched a takeover bid for rival MEG Energy (Calgary, Alberta). If the acquisition goes forward, Strathcona would become Canada's fifth-largest oil producer. Industrial Info is tracking about US$2.9 billion worth of active and proposed projects from Strathcona, as well as about US$9 billion worth of proposed projects from MEG.
Click on the image at right for a graph detailing Strathcona's active and proposed projects, by industry sector.
MEG Energy, founded in 1999, is a Canadian oil sands producer that operates out of Northern Alberta. During its first and second fiscal quarters of 2025, Strathcona acquired 23.4 million shares in MEG, equating to 9.2% of the current shares outstanding. Last week, Strathcona announced a takeover bid, totaling about C$5.93 billion (US$4.25 billion) in value.
"The MEG Board of Directors will consider and evaluate the Strathcona offer and related takeover bid circular, if and when received," MEG said in a press release. "No formal offer has been made by Strathcona."
Most of MEG's activity is related to its Christina Lake Bitumen Production Complex in Fort McMurray, Alberta, which produces up to 135,000 barrels per day (BBL/d), and its proposed May River Bitumen Plant in Conklin, Alberta. MEG is proposing a series of expansions to Christina Lake that would bring its total bitumen production to 210,000 BBL/d. If built as proposed, the May River complex eventually would produce 160,000 BBL/d. Subscribers to Industrial Info's Global Market Intelligence (GMI) Oil & Gas Production Plant and Project databases can click here for a list of profiles for MEG's planned and operational plants, and click here for a list of detailed reports for MEG's active and proposed projects.
About 34% of Strathcona's C$350 million (US$250.28 million) in first-quarter capital expenditures went toward two of the company's longstanding projects: the US$200 million construction of the Meota Central Processing Facility (CPF) near Meota, Saskatchewan, and the US$100 million debottlenecking of its Lindbergh CPF near Bonnyville, Alberta. The Meota CPF would use the same modular steam-assisted gravity drainage (SAGD) technology in Strathcona's four existing CPFs to produce 10,000 barrels per day (BBL/d), while the Lindbergh debottlenecking will expand the facility's water-handling capacity to allow it to raise its production from 22,000 to 40,000 BBL/d.
Subscribers to Industrial Info's GMI database can read detailed reports on the Meota and Lindbergh projects.
Strathcona also is preparing for a US$50 million second phase to the Meota project, which would add another 6,000 BBL/d of production, and is considering a steam-generation expansion at Lindbergh, which could add another 5,000 BBL/d. Subscribers can read detailed reports on these Meota and Lindbergh projects.
Other oil-production projects underway from Strathcona include a US$60 million well-pad addition at its Orion Thermal Oil Bitumen Production Plant near Cold Lake, Alberta. The new pad would bolster the 25,000-BBL/d facility via four well pairs using SAGD technology. Subscribers can learn more from a detailed project report.
Last week, Strathcona announced a major addition to its oil-transportation assets: the Hardisty Rail Terminal in eastern Alberta, which is Western Canada's largest crude-by-rail terminal. Previously owned by pipeline company USD Partners (Houston, Texas), Hardisty plays a crucial role in Canada's export of crude oil to the U.S., as the origination point for several southbound rail lines and pipelines.
Strathcona, which acquired the Hardisty terminal for about US$45 million, sees it as part of a "core area consolidation" strategy that, when combined with its Hamlin Terminal, could give it up to 80% of Western Canada's crude-by-rail volumes. Subscribers to Industrial Info's GMI Terminals Plant Database can read detailed profiles of the Hardisty Rail Terminal and Hamlin Terminal.
Strathcona also announced it would sell three of its gas-focused assets in the Montney Shale to ARC Resources Limited (Calgary) and Tourmaline Oil Corporation (Calgary) for about C$2.84 billion (US$2.03 billion). But Strathcona is at work on several gas-drilling programs across Alberta, including a US$180 million expansion of its sour natural gas and condensate operation in the Grovedale Field, which will add up to 25 new wells, and a US$120 million expansion of its crude oil, natural gas and condensate operation in the Pipestone Field, which could add more than 10 new wells.
Product from the Grovedale expansion will be sent to one of Strathcona's gas-processing facilities, while product from the Pipestone expansion will be sent to a processing plant owned by Keyera Corporation (Calgary). Subscribers can read detailed reports on the Grovedale and Pipestone projects.
Subscribers to Industrial Info's GMI Project and Plant databases can click here for a full list of detailed reports for projects mentioned in this article, and click here for a full list of related plant profiles.
Subscribers can click here for a full list of detailed project reports for active and proposed projects from Strathcona.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 trillion (USD).
Click on the image at right for a graph detailing Strathcona's active and proposed projects, by industry sector.MEG Energy, founded in 1999, is a Canadian oil sands producer that operates out of Northern Alberta. During its first and second fiscal quarters of 2025, Strathcona acquired 23.4 million shares in MEG, equating to 9.2% of the current shares outstanding. Last week, Strathcona announced a takeover bid, totaling about C$5.93 billion (US$4.25 billion) in value.
"The MEG Board of Directors will consider and evaluate the Strathcona offer and related takeover bid circular, if and when received," MEG said in a press release. "No formal offer has been made by Strathcona."
Most of MEG's activity is related to its Christina Lake Bitumen Production Complex in Fort McMurray, Alberta, which produces up to 135,000 barrels per day (BBL/d), and its proposed May River Bitumen Plant in Conklin, Alberta. MEG is proposing a series of expansions to Christina Lake that would bring its total bitumen production to 210,000 BBL/d. If built as proposed, the May River complex eventually would produce 160,000 BBL/d. Subscribers to Industrial Info's Global Market Intelligence (GMI) Oil & Gas Production Plant and Project databases can click here for a list of profiles for MEG's planned and operational plants, and click here for a list of detailed reports for MEG's active and proposed projects.
About 34% of Strathcona's C$350 million (US$250.28 million) in first-quarter capital expenditures went toward two of the company's longstanding projects: the US$200 million construction of the Meota Central Processing Facility (CPF) near Meota, Saskatchewan, and the US$100 million debottlenecking of its Lindbergh CPF near Bonnyville, Alberta. The Meota CPF would use the same modular steam-assisted gravity drainage (SAGD) technology in Strathcona's four existing CPFs to produce 10,000 barrels per day (BBL/d), while the Lindbergh debottlenecking will expand the facility's water-handling capacity to allow it to raise its production from 22,000 to 40,000 BBL/d.
Subscribers to Industrial Info's GMI database can read detailed reports on the Meota and Lindbergh projects.
Strathcona also is preparing for a US$50 million second phase to the Meota project, which would add another 6,000 BBL/d of production, and is considering a steam-generation expansion at Lindbergh, which could add another 5,000 BBL/d. Subscribers can read detailed reports on these Meota and Lindbergh projects.
Other oil-production projects underway from Strathcona include a US$60 million well-pad addition at its Orion Thermal Oil Bitumen Production Plant near Cold Lake, Alberta. The new pad would bolster the 25,000-BBL/d facility via four well pairs using SAGD technology. Subscribers can learn more from a detailed project report.
Last week, Strathcona announced a major addition to its oil-transportation assets: the Hardisty Rail Terminal in eastern Alberta, which is Western Canada's largest crude-by-rail terminal. Previously owned by pipeline company USD Partners (Houston, Texas), Hardisty plays a crucial role in Canada's export of crude oil to the U.S., as the origination point for several southbound rail lines and pipelines.
Strathcona, which acquired the Hardisty terminal for about US$45 million, sees it as part of a "core area consolidation" strategy that, when combined with its Hamlin Terminal, could give it up to 80% of Western Canada's crude-by-rail volumes. Subscribers to Industrial Info's GMI Terminals Plant Database can read detailed profiles of the Hardisty Rail Terminal and Hamlin Terminal.
Strathcona also announced it would sell three of its gas-focused assets in the Montney Shale to ARC Resources Limited (Calgary) and Tourmaline Oil Corporation (Calgary) for about C$2.84 billion (US$2.03 billion). But Strathcona is at work on several gas-drilling programs across Alberta, including a US$180 million expansion of its sour natural gas and condensate operation in the Grovedale Field, which will add up to 25 new wells, and a US$120 million expansion of its crude oil, natural gas and condensate operation in the Pipestone Field, which could add more than 10 new wells.
Product from the Grovedale expansion will be sent to one of Strathcona's gas-processing facilities, while product from the Pipestone expansion will be sent to a processing plant owned by Keyera Corporation (Calgary). Subscribers can read detailed reports on the Grovedale and Pipestone projects.
Subscribers to Industrial Info's GMI Project and Plant databases can click here for a full list of detailed reports for projects mentioned in this article, and click here for a full list of related plant profiles.
Subscribers can click here for a full list of detailed project reports for active and proposed projects from Strathcona.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 trillion (USD).
