BRIEF-Canadian Natural Resources Limited Announces 2019 Budget
Reuters
Published Dec 05, 2018 05:14
BRIEF-Canadian Natural Resources Limited Announces 2019 Budget
Dec 5 (Reuters) - Canadian Natural Resources Ltd CNQ.TO :
* 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
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Written By: Reuters
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