Canadian Natural Resources boosts capex budget, production guidance for 2021 | CNQ Message Board Posts


Canadian Natural Resources Limited

  CNQ website

CNQ   /  Message Board  /  Read Message

 

 






Keyword
Subject
Between
and
Rec'd By
Authored By
Minimum Recs
  
Previous Message  Next Message    Post Message    Post a Reply return to message boardtop of board
Msg  861 of 871  at  12/14/2020 7:20:10 AM  by

jerrykrause


Canadian Natural Resources boosts capex budget, production guidance for 2021

 from SNL Daily Gas Report
 

Canadian Natural Resources boosts capex budget, production guidance for 2021

 
 
Byline: Dyna Mariel Bade
 

Calgary, Alberta-based Canadian Natural Resources Ltd. raised its total capital expenditures budget and set a higher overall production target for 2021, according to a Dec. 9 news release.

Canadian Natural Resources boosted its 2021 capital budget to approximately C$3.21 billion, from 2020 guidance of C$2.70 billion. The company will allocate about C$1.35 billion of the budget to conventional and unconventional assets and C$1.86 billion to long-life, low-decline assets.

After dividend requirements, Canadian Natural Resources expects 2021 free cash flow to be between C$2.0 billion and C$2.5 billion, based on a West Texas Intermediate price of US$45/barrel.

Canadian Natural Resources set its total 2021 production guidance at 1.19 million barrels of oil equivalent per day to 1.26 million boe/d, a 5% increase from the 2020 forecast level of 1.16 million boe/d. About 48% of the product mix will be high-value synthetic crude oil, light crude oil and NGLs; 30% will be heavy crude oil; and 22% will be natural gas.

The producer forecast 2021 liquids production to rise 4% from targeted 2020 levels to between 920,000 barrels per day and 980,000 b/d and forecast 2021 natural gas production to climb 11% to between 1.62 Bcf/d and 1.68 Bcf/d. Canadian Natural Resources also said it plans to boost capital investment within its natural gas portfolio in 2021.

 


     e-mail to a friend      printer-friendly     add to library      
|  
Recs: 1  
   Views: 0 []
Previous Message  Next Message    Post Message    Post a Reply return to message boardtop of board




Financial Market Data provided by
.
Loading...