Forecast - Production | Capital Markets | Capital Expenditure | Capex Decrease | Capital Expenditure - 2020 | 2020 Guidance
CNRL Cuts Over $1.0B from 2020 Capex; Execs Take Pay Cut
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Canadian Natural Resources Limited (CNRL) has updated its 2020 outlook.
CNRL has reduced its 2020 capital spending budget to approximately $2,960 million, a $1,090 million reduction from its original 2020 budget (a decrease of 27%).
Notwithstanding this spending reduction, there is no change to our 2020 corporate production guidance volumes of 1,137,000 – 1,207,000 BOE/d.
Summary of 2020 capital budget by areas are as follows:
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