On November 21, MEG announced 2020 production guidance of 94,000 to 97,000 bpd of bitumen which was dependent in part on the Corporation’s ability to re-contract a significant portion of its rail loading capacity which was previously contracted for blend sales agreements with the Alberta Petroleum Marketing Commission. The required re-contracting has been successfully completed and MEG re-confirms its 2020 production guidance of 94,000 to 97,000 bpd of bitumen.
MEG is an oil company focused on sustainable in situ thermal oil development and production in the southern Athabasca region of Alberta, Canada. MEG is actively developing enhanced oil recovery projects that utilize steam-assisted gravity drainage (“SAGD”) extraction methods to improve the economic recovery of oil as well as lower carbon emissions. MEG transports and sells Access Western Blend (“AWB” or “blend”) to refiners throughout North America and internationally. MEG’s common shares are listed on the Toronto Stock Exchange under the symbol “MEG”.