Referenced Stocks

Canadian Natural Sets Capital Budget of $6.9 Billion for 2013

By Midnight Trader,  December 04, 2012, 07:03:00 AM EDT

Canadian Natural Resource Ltd. ( CNQ ) said its 2013 capital budget is targeted at $6.9 billion. The company said the 2013 capital budget delivers both near term crude oil and NGLs production growth of approximately 9% and the effective development of the company's long life, low decline asset base, which will provide greater and more sustainable free cash flow in 2014 and beyond.

The company's 2013 cash flow is targeted to be $7.6 billion at the midpoint, providing approximately $0.7 billion of free cash flow to allocate to dividends, share repurchases, opportunistic acquisitions or debt repayment.

CNQ closed in the red at $28.30 yesterday.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

Referenced Stocks: CNQ



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