Edition:
United Kingdom

Canadian Natural Resources Limited Announces 2019 Budget


Wednesday, 5 Dec 2018 

Dec 5 (Reuters) - Canadian Natural Resources Ltd ::CANADIAN NATURAL RESOURCES LIMITED ANNOUNCES 2019 BUDGET.CANADIAN NATURAL RESOURCES - COMPANY IS TARGETING A 2019 BASE CAPITAL PROGRAM OF $3.7 BILLION, ABOUT $1.0 BILLION LESS THAN ITS NORMALIZED CAPITAL PROGRAM.CANADIAN NATURAL RESOURCES - PRODUCTION IN 2019 IS TARGETED TO BE BETWEEN 1,030,000 BOE/D AND 1,119,000 BOE/D.CANADIAN NATURAL RESOURCES - 2019 CRUDE OIL AND NGL PRODUCTION IS TARGETED TO BE IN LINE WITH 2018 LEVELS, RANGING FROM 782,000 BBL/D TO 861,000 BBL/D.CANADIAN NATURAL RESOURCES- 2019 DRILLING PROGRAM IN BASE BUDGET IS TARGETING 97 NET PRODUCER WELLS, DECREASE OF 419 WELLS FROM 2018 TARGETED LEVELS.CANADIAN NATURAL RESOURCES - LIGHT CRUDE OIL, NGLS, SYNTHETIC CRUDE OIL PRODUCTION IN 2019 TARGETED TO BE ABOUT 53% OF TOTAL CORPORATE BOE PRODUCTION.CANADIAN NATURAL RESOURCES- IF PRICING DIFFERENTIALS & MARKET ACCESS IMPROVE IN 2019, CO CAN INVEST ADDITIONAL CAPITAL UP TO ABOUT $700 MILLION IN 2019.CANADIAN NATURAL - IN FORESEEABLE FUTURE, SEES LONG-TERM PRODUCTION/ SHARE GROWTH OF 7% - 8%, NORMALIZED CAPITAL PROGRAM IN $4.7 BILLION - $5.0 BILLION RANGE.IN 2019 COMPANY TARGETS MAINTENANCE CAPITAL AT APPROXIMATELY $3.1 BILLION.