From humble beginnings and an entrepreneurial spirit, MEG has developed into a world-class oil producer and technological leader. Follow the timeline to learn about the pivotal points in our history.



MEG starts with the purchase of nine sections in the relatively unknown Christina Lake region. The sections are purchased with personal savings by founders Bill McCaffrey, Steve Turner and Dave Wizinsky.


The Company secures its first substantial institutional investor and initiates significant resource characterization work at Christina Lake, with core hole drilling and seismic data.


Regulatory approval for Phase 1 is received, and construction gets underway at Christina Lake. MEG enters into a joint venture to construct and operate the Access Pipeline. Regulatory approvals are secured by the end of the year.


After receiving regulatory approvals, MEG commences construction on Christina Lake Phase 2. Access Pipeline begins operations.


Production commences at Christina Lake Phase 1.


Steaming of the initial well pairs commences at Christina Lake Phase 2. Combined total design capacity of 25,000 barrels per day is reached for Phase 1 and 2 within just 10 months. By year-end, MEG also starts its cogeneration facility.


MEG completes its Initial Public Offering (IPO).


Annual average production of 28,800 barrels per day is achieved.


MEG achieves annual production of 35,317 barrels per day, while continuing to lower per barrel net operating costs and per barrel non-energy operating costs for the full year.


In November MEG’s eMVAPEX pilot begins; a continuation of eMSAGP that involves the injection of condensable gas to maintain reservoir pressure and reducing steam injection to near-zero.


MEG commences expansion of its proven eMSAGP technology on Phase 2B wells. Ongoing technological developments enable the Company to meaningfully reduce its steam-oil ratio, reducing capital requirements for steam and water handling and decreasing operating costs. Meanwhile MEG completes a comprehensive refinancing, strengthening its financial position and providing funding for its 20,000 barrel per day growth plans at Christina Lake.


Production capacity increased to support annual average production of 100,000 barrels per day. Green House Gas metrics are incorporated into MEG’s Corporate Performance Scorecard. In the second quarter, Founding CEO, Bill McCaffrey, announces his retirement and Derek Evans is appointed Chief Executive Officer on August 10th.


MEG reaches 93,092 barrels per day of production with an industry-leading steam-to-oil Ratio (SOR) of 2.22. Our first ESG report is released, setting the foundation for MEG to continue to evolve and improve from an environmental, social and governance perspective. MEG’s brand is also refreshed to reflect our commitment to sustainable resource development, innovative technologies, and responsible strategic growth.


MEG responds proactively to the safety and operational challenges associated with the COVID-19 pandemic while continuing to reduce debt. The company makes a commitment to support the Paris Agreement and sets a long-term goal to reach net zero GHG emissions by 2050.


In 2021, MEG Energy commissions a facility expansion consisting of a mechanical vapor compressor and two drum boilers. This expansion allows MEG to reach annual production of approximately 93,700 barrels per day. Also, MEG along with five other oil sands operators who collectively represent 95% of Canada’s oil sands production, form the Oil Sands Pathways to Net Zero Alliance.


In the second quarter, MEG initiates a share buyback program. Before year-end, the company launches its inaugural DE&I education and awareness campaign, MEG Belonging.


MEG Belonging continues to build an inclusive work environment that celebrates the differences of our employees, ensures everyone feels valued, respected, and heard, and enhances the connections we have in the communities where we live and work.

Incident Notification

Incident notification – April 30, 2016 – Meg Energy announces that today, at approximately 08:15 hrs, during work carried out on a natural gas well near the village of Edmonton in Alberta.