Alberta oilsands specialist Meg Energy Corp. has boosted its oilsands production guidance for the year on strengthening demand and prices.

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Production during 3Q2021 grew year/year to 91,506 b/d from 71,516 b/d. On the solid uptick Meg revised its 2021 average production guidance upward to 92,500-93,500 b/d from 91,000-93,000 b/d.

“The third quarter was another strong operational quarter for Meg as production levels benefited from our team’s continued focus on plant reliability, steam utilization and ongoing well optimization,” said CEO Derek Evans. “Given what we are seeing operationally, we have upwardly revised our annual production guidance and look forward to a strong finish to 2021.”

The “better-than-expected performance in the oilsands supports the strengthening...