Exhibit 99.1
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CANADIAN NATURAL RESOURCES LIMITED ANNOUNCES
HORIZON OIL SANDS PRODUCTION
CALGARY, ALBERTA – October 4, 2010 – FOR IMMEDIATE RELEASE
Canadian Natural Resources Limited (“Canadian Natural” or the “Company”) announces monthly production of Synthetic Crude Oil (“SCO”) at Horizon Oil Sands as follows:
Month | SCO Production (bbl/d) |
Q1 2010 | 86,995 |
Q2 2010 | 99,950 |
July 2010 | 93,300* |
August 2010 | 50,500* |
September 2010 forecast | 108,800* |
*rounded to the nearest hundred |
The maintenance required to address localized pipe wall thinning limited to the amine unit, which required a plant wide shut down, was successfully completed in mid August and resulted in lower average volumes for that month. September 2010 volumes were near design capacity. While the plant’s reliability advances, the Company continues to focus on optimizing operations and will implement strategic maintenance when necessary. The Company targets production rates at design capacity for October 2010 and the remainder of 2010.
Canadian Natural is a senior crude 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 West Africa.
CANADIAN NATURAL RESOURCES LIMITED
2500, 855 – 2nd Street S.W.
Calgary, Alberta
T2P 4J8
Telephone: Facsimile: Email: Website: | (403) 514-7777 (403) 514-7888 ir@cnrl.com www.cnrl.com | JOHN G. LANGILLE Vice-Chairman STEVE W. LAUT President COREY B. BIEBER Vice-President, Finance & Investor Relations |
Trading Symbol - CNQ Toronto Stock Exchange New York Stock Exchange |
This document contains forward-looking statements under applicable securities laws, including, in particular, statements about Canadian Naturals’ plans,
strategies and prospects. 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.
Please refer to the Company’s Interim Report or Annual Information Form for a full description of these risks and impacts.