March 3 (Reuters) - Canadian Natural Resources Ltd CNQ.TO :
* Announces 2015 fourth quarter and year end results and 2016 budget
* Says in 2017, horizon expansion capital will drop to approximately one
billion dollars
* Qtrly earnings per share $0.12
* Says 80,000 bbl/d of horizon phase 3 is targeted to start in the fourth
quarter of 2017
* Says for 2016, Canadian Natural targets its capital program to range from
$3.5 billion to $3.9 billion
* Overall 2016 production volumes targeted to be 2% less than 2015 annual
production volumes, at the midpoint of guid
* Says overall production in 2016 is targeted to be between 809,000 boe/d and
868,000 boe/d
* Says start-up of horizon phase 2b is targeted in 7 months and will add 45,000
bbl/d of production capacity
* Horizon project capital costs are targeted to decline in 2017 to
approximately $1 billion for phase 3 completion
* Says has in place sufficient liquidity to ensure the funding of all targeted
activities in 2016 and 2017
* Source text for Eikon ID:nCCN2ynwXJ
* Further company coverage CNQ.TO