CALGARY - Oilsands producers Suncor Energy Inc. and MEG Energy Corp. operate different types of projects, but both companies said Thursday they could make them work in the current low oil price environment by pushing down costs.
Thermal oilsands producer MEG Energy Corp. confirmed Tuesday is it looking at selling its half-share in the Access Pipeline to pay down debt and allow it to proceed with two new brownfield expansions of between 10,000 and 20,000 barrels per day each.
Canadian PressHusky Energy Inc 2015 capital budget cuts allocations for production projects in Western Canada by about 42 per cent, to $1.8 billion, while its spending in the Atlantic region will be reduced by 14 per cent to $600 million from $700 million.
A switch to “brownfield” expansions of existing operations instead of growth by building new projects means oilsands producer MEG Energy Corp. will budget for capital spending of just $1.2 billion in 2015, 25 per cent lower than consensus analyst ...
Oilsands producer MEG Energy Corp. posted a $508-million first-quarter net loss Thursday as realized prices for its bitumen plunged 59 per cent to $25.82 per barrel from $62.28 in the same period of 2014.