Canadian Natural output may rise 10% - November 21, 2004

Providing coverage of Alaska and northern Canada's oil and gas industryNovember 2004

Vol. 9, No. 47

Week of November 21, 2004

Canadian Natural output may rise 10%

Kay Cashman

Canadian Natural Resources, Canada’s second largest natural gas producer, predicts it will produce record earnings next year based on an estimated 10 percent increase in oil and gas production.

The Calgary-based company plans to pump between 548,000 and 586,000 barrels of oil equivalent per day, before royalties, Canadian Natural said Nov. 15. Oil and natural gas liquids production will increase by 13 percent from this year’s mid-year forecast, while natural gas supplies will increase 7 percent, the company said.

Cash flow will be between C$4.3 billion and C$4.5 billion, Canadian Natural said in a press release.

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