Targeting a capital plan of C$590 million (US$449 million) in 2017, the Canadian intermediate is focused on resuming work on phase 2B of the Christina Lake steam-assisted gravity drainage project in Northern Alberta.
That compares to spending of $125 million in 2016, which was down 62% from MEG’s original budget of $328 million
More than half of the year’s budget — about C$320 million, or 80% of phase 2B’s total cost — will support drilling infill wells and new well pairs to increase production, as well as minor facility debottlenecks.
Incremental
