CHATNEWSTODAY FILE IMAGE

By The Canadian Press

Calgary energy company adding 3 rigs in 2020

Canadian Natural budget rises by $250 million on curtailment ease – additional rigs and jobs for Alberta

Dec 4, 2019 | 7:26 AM

CALGARY – Canadian Natural Resources Ltd. says its 2020 capital budget will be $250 million higher than last year as it adds about 60 drilling locations across Alberta and puts three additional rigs to work.

The company says the increased spending will create the equivalent of about 1,000 full-time jobs.

Canadian Natural says it made the decision after the Alberta government eliminated curtailments for some conventional drilling in the province, and because of reduced corporate income tax rates.

It also says that it would look to put six more drill rigs to work if the government expanded the elimination of curtailment to include newly drilled conventional heavy oil wells.

WHAT'S ON

Here is what's on this weekend in Medicine Hat and area: Nov. 15-17

Nov 15, 2024

LIVE UPDATES

Road construction, detours and traffic in Medicine Hat

Nov 15, 2024

In the community

Medicine Hat public library screening movie to open discussion on addiction and recovery

Nov 14, 2024

Canadian Natural’s overall 2020 budget is targeted to be $4.05 billion, including $1.55 billion for conventional and unconventional assets and $2.5 billion for what it calls long life low decline assets.

The company says it expects to produce the equivalent of about 1.172 million barrels of oil a day.