MEG Energy Corp - MEGEF stock
OTC Symbol: MEGEF | OTC Tier: Pink Current | Related ticker symbols: TSX: MEG
About[edit]
MEG Energy Corp., an energy company headquartered in Calgary, Canada, specializes in sustainable in situ thermal oil production within Alberta's southern Athabasca oil region, utilizing steam-assisted gravity drainage extraction methods to enhance oil recovery and reduce carbon emissions. The company also transports and sells thermal oil both in North America and internationally.[1]
History[edit]
MEG Energy Corp. was incorporated in 1999 in Canada. The company's origin can be traced back to its establishment with a focus on sustainable in situ thermal oil production in the southern Athabasca oil region of Alberta, Canada.[2]
The company was founded with the vision of utilizing advanced thermal recovery technologies to extract heavy oil from the oil sands in an environmentally responsible manner. In situ thermal recovery methods, such as steam-assisted gravity drainage (SAGD), involve injecting steam into the underground oil sands reservoir to heat the bitumen, reducing its viscosity, and allowing it to flow to the surface for extraction.[3]
MEG Energy Corp. aimed to improve the recovery of bitumen from the oil sands while reducing the environmental impact associated with traditional oil extraction methods. The SAGD technology allowed MEG Energy to access deeper and more complex oil reserves that were previously uneconomical to produce.[3]
- ↑ Yahoo Finance. MEGEF Stock Profile. Retrieved on 10/13/2023.
- ↑ megenergy.com. About Us - Our History. Retrieved on 10/14/2023.
- ↑ 3.0 3.1 Wikipedia. MEG Energy. Retrieved on 10/14/2023.
