Production Rates | Capital Markets | Capital Expenditure | Capital Expenditure - 2020 | 2020 Guidance
CNRL to Spend More in 2020; Numbers Don't Add Up
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CNRL annouced its 2020 capital budget. Without a detailed drilling plan and capex budget it is hard to say whether or not this +$250 million is just political pondering.
Here is what the company said about the capex break-out "Canadian Natural’s 2020 capital budget is targeted to be $4.05 billion, of which approximately $1.55 billion is allocated to conventional and unconventional assets and approximately $2.5 billion is allocated to Long Life Low Decline assets"
The company said "Due to the Alberta government's recently announced elimination of curtailment for certain conventional drilling in Alberta and its previously announced reduction in income tax rates, Canadian Natural has increased its 2020 capital budget by approximately $250 million over 2019 levels adding approximately 60…
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