Canadian Natural outlines 2018 spending plans

Canadian Natural is targeting light crude oil production from its operations in the UK North Sea and offshore West Africa of 40,000-45,000 b/d next year.

Offshore staff

CALGARY, CanadaCanadian Natural is targeting light crude oil production from its operations in the UK North Sea and offshore West Africa of 40,000-45,000 b/d next year.

This would represent a decrease of around 8% from 2017 levels, reflecting natural production declines.

The company has budgeted $410 million for international expenditure next year, including around $70 million fordecommissioning activities.

It plans to drill 4.6 net producing wells in the North Sea and 1.7 net producing wells at the Baobab field offshore Cȏte d’Ivoire.

Offshore Africa production slipped during 3Q in part due to a turnaround program at Baobab.

In the North Sea, the company’s recent focus has been on production enhancements, increased reliability and water flood optimization.

11/30/2017

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