Our Resource Base
MEG Energy’s oil sands leases are located in the southern Athabasca, an active producing region with a high quality resource base. MEG’s leases cover more than 2,300 square kilometres (900 square miles) over three key asset areas:
Beneath the surface of these leases are an estimated 3.0 billion barrels of proved plus probable reserves.* This large resource base is the foundation of our current production and future growth plans.
The concentration of MEG’s leases in the southern Athabasca allows us to leverage our geological expertise in the region as we expand our operations. Christina Lake — the current focus of MEG's oil sands development — is familiar territory. The geological trend found at Christina Lake also underlies Surmont, further north.
We know the play — and how to play it.
* Best-estimate contingent resources
Converting Resources to Reserves
Even before MEG produced its first barrel of oil in 2008, we planned for growth by converting contingent resources to better-defined “reserves.” As MEG continues to grow its operations, an ongoing program of seismic exploration and core-hole drilling provides a clearer, long-term view of how to best develop our leases, helping to remove risk from growth plans.
* See Oil and Gas Information section of our Legal Notice