CNQ expects capex of ~$2.5 billion/year for 2017e and 2018e, with total production being relatively flat in each year vs. 2016e guidance. At futures strip pricing, Management foresees cash flow exceeding the dividend and base capital plans for 2017e-2018e by ~$3.0 billion, and noted that it does not feel the need to reduce its dividend or issue equity, or arrange for expanded credit facilities or term out debt, at this time.
03 Mar 2016
CONFERENCE CALL NOTES - 4Q15
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CONFERENCE CALL NOTES - 4Q15
Canadian Natural Resources Limited (CNQ:TSE) | 0 0 (-1.6%) | Mkt Cap: 47,712m
- Published:
03 Mar 2016 -
Author:
Michael P. Dunn -
Pages:
4
CNQ expects capex of ~$2.5 billion/year for 2017e and 2018e, with total production being relatively flat in each year vs. 2016e guidance. At futures strip pricing, Management foresees cash flow exceeding the dividend and base capital plans for 2017e-2018e by ~$3.0 billion, and noted that it does not feel the need to reduce its dividend or issue equity, or arrange for expanded credit facilities or term out debt, at this time.