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Company News

BRIEF-MEG Energy Announces 2018 Capital Investment Plan

Dec 1 (Reuters) - MEG Energy Corp:

* MEG ENERGY ANNOUNCES 2018 CAPITAL INVESTMENT PLAN SUPPORTING PRODUCTION TO 100,000 BPD, SETS THE STAGE FOR CONTINUED GROWTH IN 2019

* MEG ENERGY CORP - SEES A 2018 CAPITAL BUDGET OF $510 MILLION

* MEG ENERGY - FINANCIAL RESOURCES AVAILABLE TO CO TO FUND ITS 2018 CAPITAL PROGRAM INCLUDE EXPECTED INTERNALLY GENERATED CASH FLOW AND CASH ON HAND

* MEG ENERGY CORP - TARGETED 2018 AVERAGE PRODUCTION IN RANGE OF 85,000 TO 88,000 BPD, 2018 EXIT PRODUCTION IN RANGE OF 95,000 TO 100,000 BPD

* MEG ENERGY CORP - SEES A 2018 CAPITAL BUDGET OF $510 MILLION

* MEG ENERGY - TO INVEST REMAINING $120 MILLION OF ESTIMATED COST TO COMPLETE IMPLEMENTATION OF EMSAGP GROWTH INITIATIVE AT CHRISTINA LAKE PHASE 2B IN 2018

* MEG ENERGY CORP - 2018 CAPITAL PROGRAM SETS STAGE FOR PRODUCTION GROWTH OF APPROXIMATELY 8 TO 10% IN 2019

* MEG ENERGY CORP - RELATED NON-ENERGY OPERATING COSTS FOR 2018 ARE ANTICIPATED TO BE IN RANGE OF $4.75 TO $5.25 PER BARREL

* MEG ENERGY CORP - 2018 OPERATIONAL GUIDANCE TAKES INTO ACCOUNT A 35-DAY TURNAROUND AT CHRISTINA LAKE PHASE 2B PRODUCTION FACILITY PLANNED FOR Q2 2018 Source text for Eikon: Further company coverage:

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