Canadian Natural Resources Limited Announces First Steam-In at Kirby South SAGD Project
18 Septiembre 2013 - 4:00AM
Marketwired
Canadian Natural Resources Limited (TSX:CNQ) (NYSE:CNQ) ("Canadian
Natural") announces that first steam injection was achieved on
September 16, 2013 at its 100% owned and operated Kirby South steam
assisted gravity drainage (SAGD) project. The Kirby South project
was completed on budget, with a forecast addition of production at
approximately $30,000 per flowing barrel, and ahead of the
originally targeted steam-in date of November 2013.
Kirby South is targeted to grow to approximately 40,000 bbl/d of
production by the end of 2014 and is the first step in a staged
expansion plan for the greater Kirby area, targeted to increase
Kirby area production over time to approximately 140,000 bbl/d.
Canadian Natural's current overall thermal in situ development plan
targets to increase facility capacity from current levels of
approximately 170,000 bbl/d to approximately 510,000 bbl/d in
staged increments over the next 15 years.
Commenting on the start-up of operations at Kirby South,
Canadian Natural's President Steve Laut said "The successful
completion of construction and commissioning of the Kirby South
project demonstrates the strength of our teams and our ability to
effectively and safely execute on our projects. Kirby South is the
next piece in our long term growth plan for our thermal in situ
assets, increasing the size of our long life, low decline asset
base and enhancing our already strong ability to generate free cash
flow in the near and long term".
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.
Certain information regarding the Company contained herein may
constitute forward-looking statements under applicable securities
laws. Such statements, including statements regarding anticipated
production and related costs, are subject to known or unknown risks
and uncertainties that may cause actual results to differ
materially from those anticipated or implied in the forward-looking
statements. Refer to our website for complete forward-looking
statements www.cnrl.com.
Contacts: Steve W. Laut President Douglas A. Proll Executive
Vice-President Corey B. Bieber Chief Financial Officer & Senior
Vice-President, Finance Canadian Natural Resources Limited 2500,
855 - 2nd Street S.W. Calgary, Alberta, T2P 4J8 Canada Phone: (403)
514-7777 (403) 514-7888 (FAX)ir@cnrl.com www.cnrl.com
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