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CNR Increases 2015 Horizon Project Production Guidance
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Canadian Natural Resources has announced fourth quarter 2014 results.
Steve Laut, President of Canadian Natural, stated: "2014 demonstrated the strength of our diverse and balanced asset base, and our ability to create long-term value for Canadian Natural's shareholders. At the end of the year, we increased Company Gross total proved plus probable reserves to 8.89 billion BOE, replacing 413% of production, with a proved plus probable reserve life index of approximately 31 years. Our annual average production volumes reached record levels and annual operating costs were optimized as compared to 2013 levels after successfully integrating the acquisition of higher cost production volumes in the first half of 2014.
Our transformation to a longer life, lower decline asset base remained on course…
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