Solvent assisted technology growth projects on deck for MEG.
No-moat MEG Energy reported second-quarter production of 71.3 thousand barrels of oil per day, which was below our expectations. We previously lowered our second-quarter production forecast due to planned maintenance at Christina Lake. However, the maintenance took more production off-line during the quarter than we anticipated. Despite the lower-than-expected production, MEG increased its annual production target to 87-90 mbbl/d from its previous target of 85-88 mbbl/d. Our full-year forecast o...MEG Energy is engaged in a steam assisted gravity drainage oil sands development at its 80 section Christina Lake Regional Project. As of Dec 31 2010, Co. had total proved bitumen reserves of 605.9 gross thousand barrels (470.5 net thousand barrels).
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