Meg Energy Oil And Gas Management

Alberta base oil and gas producer meg energy believes it can achieve net zero greenhouse gas emissions at its christina lake oil sands facility in northern alberta.

Meg energy oil and gas management.

Since joining meg in 2004 he has held roles of increasing responsibility with the company with oversight for reservoir management and project development facility operations cost leadership and technological development and application. Due to the recent significant degradation in global oil prices meg is reducing its 2020 full year capital budget by 20 from 250 million to 200 million. Engineering jobs production and operations jobs trades and construction jobs supply chain management jobs and administration. The company s main thermal project is christina lake.

They are proposing a project that would capture greenhouse gases before they are released into the atmosphere and permanently bury those emissions deep below the earth s surface. Capital program reduction and guidance update. With over 33 years of experience in the oil and gas industry he has been a leader in thermal development. Search current meg jobs.

Meg has taken measures to achieve one of the lowest ghg emissions intensities in the thermal heavy oil industry. The heat from the turbine is recovered by a heat recovery steam generator for use in the thermal heavy oil recovery process resulting in more efficient use of natural gas and a thermal efficiency of 86. The majority of the 50 million capital reduction is a result of reducing planned turnaround scope in the third quarter and deferring costs associated with well pairs that were previously. Meg energy is a pure play canadian oil sands producer engaged in exploration in northern alberta all of its oil reserves are more than 1 000 feet 300 m below the surface and so they depend on steam assisted gravity drainage and associated technology to produce heavy bitumen must first be brought to the surface.

Meg is good value based on its pb ratio 0 3x compared to the ca oil and gas industry average 0 8x. Next steps explore potentially undervalued companies in the energy industry. Christina lake is a multi phased sagd project and currently the focus of meg s oil development. Meg s natural gas turbine generates electricity that is used in its operations with surplus power sold into the alberta electricity grid.