Canadian Natural Resources Limited Horizon Update
October 26 2012 - 5:00AM
Marketwired
Canadian Natural Resources Limited (TSX:CNQ)(NYSE:CNQ) ("Canadian
Natural") has successfully completed proactive planned maintenance
activities at its Horizon Oil Sands Project ("Horizon"). The
planned outage, scheduled for twelve days in the month of October,
was completed on schedule and on cost. The Coker feed has commenced
as the plant returns to targeted full production of 115,000 barrels
per day of Synthetic Crude Oil ("SCO") and Canadian Natural
continues its commitment to safe, steady and reliable
operations.
As previously provided, current Horizon production guidance for
2012 remains in the range of 90,000 bbl/d - 98,000 bbl/d of SCO as
production level reductions due to proactive maintenance activities
was previously taken into consideration. Q3/12 actual production
was approximately 99,200 barrels per day of SCO, near the midpoint
of previously issued Q3/12 guidance, as the Company operated at
restricted rates for a portion of Q3/12 to ensure safe, steady
reliable operations in anticipation of the proactive planned
maintenance.
Canadian Natural is a senior oil and natural gas production
company, with continuing operations in its core areas located in
Western Canada, the U.K. portion of the North Sea and Offshore
Africa.
This document contains forward-looking statements under
applicable securities laws, including, in particular, statements
about Canadian Natural's anticipated production volumes. Although
the Company believes that the expectations reflected in these
forward-looking statements are reasonable, such statements are
subject to known or unknown risks and uncertainties that may cause
actual results to differ materially from those anticipated.
Contacts: John G. Langille Vice-Chairman Steve W. Laut President
Corey B. Bieber Vice-President, Finance & Investor Relations
Canadian Natural Resources Limited 2500, 855 2nd Street S.W.
Calgary, Alberta, T2P 4J8 Canada Phone: (403) 514-7777ir@cnrl.com
www.cnrl.com
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