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CNRL Accelerates Montney Drilling in Q3; Restarts Kirby North Project
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Canadian Natural Resources has reported its Q3 2016 results.
Montney drilling increased to five wells in Q3 (only one well was drilled in 1H 2016) Operations at Septimus, Canadian Natural's liquids-rich Montney natural gas play in British Columbia, continue to perform above expectations. Q3/16 Septimus sales volumes averaged 140 MMcf/d and associated liquids, with industry leading operating costs of $0.25/Mcfe. Canadian Natural's annual 2016 capital expenditures are targeted to be approximately $4.4 billion. Kirby North Project Re-initiatedThe company plans to re-initiate the development of the Kirby North thermal project with engineering and procurement commencing in 2017, with a focus on finding opportunities to continue to reduce construction costs to completion. The project…
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