MEG Energy will spend 40 per cent more than analysts expected next year.
It’s announced a capital budget of just under 1.4 billion dollars.
It’s hoping output next year will be between 26 and 28 thousand barrels per day.
That’s part of a long-term goal of 260 thousand BPD by the end of the decade.
About half of its investment next year will go towards its Christina Lake Phase 2B project, which will start up in 2013.
It’s still waiting for a decision from regulators on its Phase 3 expansion.
