$3.7B 2019e capex budget keeps production flat, funds $0.6B of growth, and can be expanded if market conditions are favourable. CNQ sounds confident that the crude oil pipeline nomination process will see some changes soon that will be more favourable to producers. We continue to be impressed with CNQ’s oilsands technology innovation and efforts to reduce GHGs and costs. Reducing TP from $58.00 to $48.00, now reflecting 12x 2019e free cash flow after sustaining capital at US$60/bbl WTI.
06 Dec 2018
CNQ 2019 budget and investor day highlights
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CNQ 2019 budget and investor day highlights
Canadian Natural Resources Limited (CNQ:TSE) | 0 0 (-1.6%) | Mkt Cap: 47,712m
- Published:
06 Dec 2018 -
Author:
Michael P. Dunn -
Pages:
10
$3.7B 2019e capex budget keeps production flat, funds $0.6B of growth, and can be expanded if market conditions are favourable. CNQ sounds confident that the crude oil pipeline nomination process will see some changes soon that will be more favourable to producers. We continue to be impressed with CNQ’s oilsands technology innovation and efforts to reduce GHGs and costs. Reducing TP from $58.00 to $48.00, now reflecting 12x 2019e free cash flow after sustaining capital at US$60/bbl WTI.