Operational Updates
Canadian Natural Resources Reports NA First Quarter 2012 Update
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North America – Exploration and Production
For the first quarter of 2012, crude oil and NGLs production increased 5% to average 305,613 bbl/d, compared to 290,130 bbl/d for the first quarter of 2011 and 291,839 bbl/d for the fourth quarter of 2011. Increases in crude oil and NGLs production from comparable periods were primarily due to the impact of a strong heavy crude oil drilling program and the cyclic nature of the Company's thermal operations.
Production of crude oil and NGLs was within the Company’s previously issued guidance of 297,000 bbl/d to 309,000 bbl/d for the first quarter of 2012. Second quarter 2012 production guidance is targeted to average between 312,000 and 325,000 bbl/d of crude oil and NGLs.
Natural gas production increased 5% to 1,281 MMcf/d for the first quarter…
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