Canadian Natural Resources Limited Horizon Update
CALGARY, ALBERTA -- (Marketwire) -- 10/26/12 -- 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
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.
John G. Langille
Steve W. Laut
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) 514-7777
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