Canadian Natural Resources Limited Consolidates North Sea Interests.Energy Editors/Business Editors CALGARY, Alberta--(BUSINESS WIRE)--March 13, 2003 Canadian Natural Resources Limited Canadian Natural Resources Limited TSX: CNQ NYSE: CNQ is an oil and natural gas exploration, development and production company based in Calgary, Alberta. Operations are focused in Western Canada, the North Sea and offshore West Africa. (NYSE NYSE See: New York Stock Exchange :CNQ CNQ Cost of Non Quality CNQ Canadian Trading & Quotation System Inc. CNQ Club Neon Quebec (Quebec Neon Club) )(TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :CNQ) ("Canadian Natural") announces that CNR See riser card. CNR - Communication and Network Riser International (U.K.) Limited, a wholly-owned subsidiary of Canadian Natural, has further consolidated its ownership in United Kingdom North Sea fields with the acquisition, effective January 1, 2003, of additional working interests in the Ninian and Columba fields, associated facilities and adjacent exploration acreage. The acquisition cost of US $36 million will be funded from Canadian Natural's budgeted 2003 acquisition cost capital budget. With this acquisition, Canadian Natural's interest in the Ninian field increases to 87% and its interest in the Columba B/D and Columba E fields increase to 94% and 92% respectively. Canadian Natural operates these fields together with the related drilling and production platforms. Including the acquired production, Canadian Natural's total net production from its international properties is currently in excess of 70,000 barrels per day Barrels per day (abbreviated BPD, bbl/d, bpd, bd or b/d) is a measurement used to describe the amount of crude oil (measured in barrels) produced or consumed by an entity in one day. . Canadian Natural is a senior 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. Certain information regarding the Company contained herein may constitute forward-looking statements under applicable securities laws. Such statements are subject to known or unknown risks and uncertainties that may cause actual results to differ materially from those anticipated or implied in the forward-looking statements. |
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