In a US$60/bbl WTI environment Management would foresee capex of ~$4.5 billion/year for 2017e-2019e, compared to sustaining capital of ~$2.5 billion, and cash flow exceeding capex and the current dividend by almost $8 billion in that period.Our capex and cash flow estimates have increased. We are now forecasting cash flow to exceed capex and the current dividend level by $6.0 billion in the 2017e-2019e timeframe.Horizon has 30-50 mbbl/d of debottlenecking opportunities post Phase 2/3 expansions ....
16 Jun 2016
CNRL’s 2016 Investor Open House
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CNRL’s 2016 Investor Open House
Canadian Natural Resources Limited (CNQ:TSE) | 0 0 (-1.6%) | Mkt Cap: 47,712m
- Published:
16 Jun 2016 -
Author:
Michael P. Dunn -
Pages:
10
In a US$60/bbl WTI environment Management would foresee capex of ~$4.5 billion/year for 2017e-2019e, compared to sustaining capital of ~$2.5 billion, and cash flow exceeding capex and the current dividend by almost $8 billion in that period.Our capex and cash flow estimates have increased. We are now forecasting cash flow to exceed capex and the current dividend level by $6.0 billion in the 2017e-2019e timeframe.Horizon has 30-50 mbbl/d of debottlenecking opportunities post Phase 2/3 expansions ....