CNRL Shifts $100 Million To Oil From Gas

摘要

The Canadian natural gas industry is at a crossroads where reducing costs is crucial to the industry's future, said Allan Markin, chairman of Canadian Natural Resources Limited. He made the comment today in a second quarter earnings conference call where the company said it drilled no gas wells in the second quarter and has shifted $100 million from gas projects to oil in its 2009 budget. CNRL also said it will drill only about 110 gas wells this year, down from its previous plan for 140. Planned drilling activity for the third quarter includes 24 net gas wells.