Sees May output at 75,000-80,000 bbl/d vs April 101,000
Canadian Natural Resources Ltd, the country's biggest independent oil explorer, said it expects May production volumes at its Horizon oil sands project to fall sequentially due to a planned maintenance outage.
Canadian Natural, which operates the new Horizon oil sands project and produces oil and gas in Canada, the North Sea and elsewhere, forecast May production at Horizon to range between 75,000 to 80,000 barrels per day (bbl/d), down from 101,000 bbl/d in April.
The company also reaffirmed its 2010 production outlook for the project at 90,000 to 105,000 bbl/d.
Shares of the company closed at C$36.61 Friday on the Toronto Stock Exchange. (Reporting by Aftab Ahmed in Bangalore; Editing by Aradhana Aravindan) ([email protected]; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800