By Tracy Johnson, CBC News, June 1, 2016
MEG Energy applies for new oilsands project
In March, with oil prices skidding under $40 US a barrel, MEG Energy quietly published a notice of its application to build a new oilsands project south of Fort McMurray. The May River project isn’t huge — it will top out at approximately 164,000 barrels per day — but it’s important as a green shoot in Alberta’s beleaguered energy industry.
“It’s very positive in the sense that they’re still investing money into future growth,” said Kevin Birn, an oilsands analyst with IHS.
