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("Predator"), a Canadian-based private company, headquartered in Red Deer, Alberta, is pleased to announce it has expanded operations into the Permian Basin in West Texas, USA. Predator will operate its Texas business through its new subsidiary company, Predator Drilling LLC ("Predator LLC"), based out of Midland, Texas. This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20170203005057/en/ Predator LLC recently completed its first well for a top tier producer and is providing integrated pre-set drilling services. Shane Walper, President & CEO of Predator commented: The Permian Basin is one of the most active basins in North America and we are grateful to have the opportunity to provide services in this exciting market. The entire Predator team has worked diligently to expand operations into the Permian Basin and I am proud of their hard work and commitment to Building Greatness Together. ABOUT PREDATOR Predator Drilling Inc. is a private integrated drilling services company which provides trucking, drilling, cementing and coring services to the oil and gas industry in North America. Predators experience and reputation for delivering safe and efficient operations gives clients the confidence to successfully commercialize their resource assets. Predator Drilling is built on our high performance people and family oriented culture. Along with a strong foundation of core values, Predator is committed to SAFELY DELIVERING PERFORMANCE EXCELLENCE through DEMONSTRATED RESPECT, ACCOUNTABILITY & TEAMWORK. This news release does not constitute an offer to sell securities, nor is it a solicitation of an offer to buy securities, in any jurisdiction.
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After the successful ramp of the Phase 2B expansion, average production in the fourth quarter of 2016 reached approximately 178,000 bbl/d of SCO, at the high end of previously issued fourth quarter 2016 Horizon production guidance. As a result of these strong operational results and cost efficiencies at Horizon, the Company realized operating costs of $22.53/bbl (US$16.89/bbl) of SCO in the fourth quarter of 2016. Horizon continues to perform above expected design rates, with January 2017 production averaging approximately 195,000 bbl/d of SCO. As a result of this strong operational performance and realized cost efficiencies, Canadian Natural is lowering its 2017 SCO operating cost guidance by $2.00/bbl to $24.00/bbl to $27.00/bbl, including planned downtime for maintenance, turnaround and tie-in activities relating to the Phase 3 expansion. As was previously announced, Canadian Natural continues to evaluate an opportunity to debottleneck the Horizon fractionation tower and potentially increase production by an additional 5,000 bbl/d to 15,000 bbl/d of SCO for an estimated project capital cost of $70 million. It is estimated that this opportunity would coincide with the turnaround in the third quarter of 2017, effectively increasing the planned outage from 24 to 45 days. A final decision to proceed is expected in the second quarter of 2017. The Horizon Phase 3 expansion, which is targeted to add 80,000 bbl/d of SCO production is on schedule and on budget for commissioning and start up in the fourth quarter of 2017. The completion of the Horizon expansion provides significant sustainable zero decline production to the Company's long-life low decline asset base. 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.
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