MEG Wins OK For Last Phase Of $1.4B Oil Sands Project

Law360, New York (February 13, 2012, 6:46 PM EST) -- Canadian regulators have given oil sands developer MEG Energy Corp. the go-ahead to proceed with the third and final phase of a $1.4 billion project in Alberta, the company announced Monday.

Following approvals issued by Alberta Environment and Water and the province's Energy Resources Conservation Board in the last few weeks, additional engineering work on the company's Christina Lake project, which currently produces 150,000 barrels per day, is underway, MEG said.

The company said it is also planning a $60 million investment this year to assess...
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