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CNR's 2015 Budget Flexible in Light of Market Volatility
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Canadian Natural Resources has released its 2015 budget.
Steve Laut, President of Canadian Natural, stated: "Canadian Natural targets to have significant production growth of 11% in 2015 over 2014 levels, up to a midpoint of 893,000 barrels of oil equivalent per day. Cash flow is targeted to be approximately $9.4 billion in 2015, and free cash flow is targeted to be approximately $800 million, after 2015 capital. This production growth results from targeted strong performance in all segments of our business. This demonstrates the strength of our asset base and our ability to deliver value adding projects.
"As of year-end 2013 and prior to inclusion of 2014 acquisitions, our asset base already contained 7.99 billion BOE of proved and probable reserves, amongst the largest in our peer group…
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