4.8 C
Fort St. John
Sunday, May 19, 2019
9924 101 ave Fort St. John, B.C.
Advertisement
Home News Canadian Natural Resources Limited releases 2017 budget

Canadian Natural Resources Limited releases 2017 budget

Advertisement

FORT ST. JOHN, B.C. – Canadian Natural Resources Limited has released a forecast for the 2017 budget.

Canadian Natural’s 2017 capital budget is targeted at roughly $3.9 billion. The Company is aiming to deliver 2017 production growth of approximately 6%.

“Overall crude oil and NGL production is targeted to increase 9% from 2016 levels, representing approximately 45,000 barrels per day (“bbl/d”) of production growth, largely as a result of the completion of Horizon Phase 2B in October 2016.”

The company says total natural gas production is targeted to increase 2% from 2016 levels, at 1,700 MMcf/d to 1,760 MMcf/d.

Overall production in 2017 is targeted to be between 833,000 BOE/d and 883,000 BOE/d, with a product mix of approximately 65% crude oil and NGLs and 35% natural gas.

The company also says they plan to target the Montney and Deep Basin areas.

“In 2017, the Company targets a natural gas capital program of $460 million. The Company targets to undertake a focused program of 21 strategic net producing wells in 2017, targeting liquids-rich plays in the Montney and Deep Basin.”

To view the full details, visit: http://m.marketwired.com/press-release/canadian-natural-resources-limited-announces-2017-budget-tsx-cnq-2183432.htm

get the latest news in your inbox

Author

Advertisement

Local Events

Must Read

City of Fort St John to hold Open House on Kin...

FORT ST. JOHN, B.C. - The City of Fort St. John will be holding an Open House in regards to the future of Kin...