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FINWIRES

Strathcona Reaches First Steam at Meota Central, Targets First Oil in Q3

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Strathcona Resources reached first steam at its Meota Central thermal oil project on June 6 and expects first oil late in the third quarter of 2026, the company said Wednesday.

Drawing from the Waseca reservoir, Meota Central aims to reach peak production of about 13,000 barrels per day by mid-2027, Strathcona said.

Strathcona estimates the project has enough proven and probable reserves to support about 30 years of production at full capacity.

Meota Central underpins Strathcona's strategy to expand corporate production from about 125,000 b/d in 2026 to 300,000 b/d by 2035, equivalent to a 10% compound annual growth rate, the company said.

The company said it completed Meota Central in about 18 months for an installed cost of approximately $345 million, delivering the project 3% under budget and two months ahead of schedule.

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