Canadian Natural Resources (TSX: T.CNQ, Stock Forum) Thursday said its third-quarter cash flow fell 19% to $1.43 billion, or $1.30 per share, this according to a company news release.
Canada’s biggest independent oil and gas producer also cuts its 2012 production forecast to between 452,000 and 460,000 barrels per day (bbl/d) of crude oil and natural gas liquids (NGLs) from 454,000 to 474,000 bbl/d.
CNQ’s third-quarter net income dropped 57% to $360 million, or 33 cents per share, from $836 million, or 76 cents per share, during the same period last year.
Revenue for the quarter rose 8% to $3.54 billion.