MEG Energy (TSX: MEG), based in Calgary, Alberta, Canada is an oil sands company that is focused on sustainable in situ oil sands development and production in the southern Athabasca region by utilizing the steam-assisted gravity drainage extraction process. The company was founded in 1999 by current CEO Bill McCaffrey, an experienced oil sands executive with over 30 years of industry experience. MEG, with a C$10 billion enterprise value, has approximately 6 billion barrels of bitumen resource across its properties. The company produces approximately 34,250 barrels per day (bpd) of bitumen and plans to expand capacity significantly, anticipating production to reach 80,000 bpd by early 2015 and 115,000 to 125,000 bpd by 2017. Warburg Pincus initially invested in MEG Energy in 2004. In August 2010, MEG successfully completed its initial public offering on the Toronto Stock Exchange.