MEG Expands Christina Lake, Taps Debt Market in Oil-Sands Rebound
MEG Energy Corp. is boosting production at its Christina Lake project in Alberta and tapped debt and equity markets for financing, further signs of a rebound in Canada’s oil patch as crude prices stabilize. MEG follows Cenovus Energy Inc. and Canadian Natural Resources Ltd in pledging to proceed with the first expansion projects since the oil price crash that began in mid-2014.