Canadian Natural Resources boosts capex budget to $4.3 billion for 2022 | CNQ Message Board Posts


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Msg  865 of 871  at  1/12/2022 8:07:40 PM  by

jerrykrause


Canadian Natural Resources boosts capex budget to $4.3 billion for 2022

Energy Monitor Worldwide
 
 

Canadian Natural Resources boosts capex budget to $4.3 billion for 2022

 
 

Canadian Natural Resources Ltd. says it expects about $4.3 billion in capital spending this year, up from nearly $3.5 billion in 2021.

The company says its plan includes $3.6 billion in base capital spending and $700 million in strategic growth spending.

Production for 2022 is expected to be between 1,270,000 and 1,320,000 barrels of oil equivalent per day.

Production in 2021 was estimated at 1,235,000 boepd.

Canadian Natural president Tim McKay said production this year is targeted to consist of about 46 per cent light and synthetic crude oil, 28 per cent heavy crude oil and 26 per cent natural gas, at the midpoint of the production range.

Canadian Natural has operations in Western Canada, the North Sea and offshore Africa.

 


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