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CNRL to Ramp Up Drilling +192% in 2017; 563 Wells
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Canadian Natural Resources Ltd. has detailed its 2017 budget.
Budget Breakdown: Well Plans: The Company targets to undertake a focused program of 21 strategic net producing wells in 2017, targeting liquids-rich plays in the Montney and Deep Basin. Heavy crude oil drilling program of 427 net producing wells in 2017 Targets a drilling program of 15 net producing wells in 2017 at Pelican Lake Budget HighlightsCanadian Natural's 2017 capital budget is targeted at approximately $3.9 billion. The Company targets to deliver 2017 production growth of approximately 6% at the midpoint of 2017 budget guidance, while advancing the Company's transition to a longer-life, lower decline asset base with the completion of Horizon Phase 3 adding an incremental 80,000 bbl/d in Q4/17. In addition…
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