01:18:37 EST Fri 03 Jan 2025
Enter Symbol
or Name
USA
CA



Canadian Natural Resources Ltd
Symbol CNQ
Shares Issued 2,113,494,756
Close 2024-10-31 C$ 47.35
Market Cap C$ 100,073,976,697
Recent Sedar Documents

Globe says CNRL boosting capacity on Trans Mountain

2024-11-01 08:09 ET - In the News

The Globe and Mail reports in its Friday, Nov. 1, edition that the quarter ending Sept. 30 was the first full period of operations of the expanded Trans Mountain pipeline. The Globe's Emma Graney writes that Canadian Natural Resources, the country's largest oil and gas producer, is benefiting from its position as a major committed shipper on the pipeline. President Scott Stauth said Thursday that, beginning Dec. 1, CNRL will increase its contracted crude oil capacity on the pipeline by 75,000 barrels a day, to a total of 169,000 barrels a day. CNRL's heavy crude oil production averaged 76,808 barrels a day in the third quarter, a 1-per-cent increase year-over-year owing to strong drilling results from its multilateral well program. Even so, CNRL will further reduce its spending on drilling natural gas wells in the face of persistent low prices for the fuel. It now plans to drill 74 wells in 2024, 17 fewer than it forecast in its 2024 budget. CNRL reported a third quarter profit of $2.27-billion, down from $2.34-billion in the same quarter last year owing to lower commodity prices. RBC analyst Greg Pardy called CNRL's third quarter results "flawless" and said that it remains his "favourite senior producer."

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