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Canadian Natural Resources Ltd T.CNQ

Alternate Symbol(s):  CNQ

Energy Oil & Gas E&P
Canadian Natural Resources Limited is a Canada-based independent crude oil and natural gas exploration, development and production company. The Company's segments include exploration and production, oil sands mining and upgrading, and midstream and refining. The exploration and production segment are focused on North America, specifically in Western Canada; the United Kingdom portion of the North Sea, and Cote d'Ivoire and South Africa in Offshore Africa. Its Oil Sands Mining and Upgrading segment produces synthetic crude oil through bitumen mining and upgrading operations at Horizon Oil Sands and through its direct and indirect interest in the Athabasca Oil Sands Project. Within Western Canada in the Midstream and Refining segment, the Company maintains certain activities that include pipeline operations, an electricity co-generation system and an investment in the Northwest Redwater Partnership, a general partnership formed to upgrade and refine bitumen in the Province of Alberta.


TSX:CNQ - Post by User

Canadian Natural Resources Ltd
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Post by Betteryear2on May 04, 2023 10:11am
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Post# 35429795

2023 First Quarter Results T.CNQ

2023 First Quarter Results T.CNQCalgary, Alberta--(Newsfile Corp. - May 4, 2023) - Commenting on the Company's first quarter 2023 results, Tim McKay, President of Canadian Natural Resources Limited (TSX: CNQ) (NYSE: CNQ), stated, "Canadian Natural delivered strong results in Q1/23 with effective and efficient operations on our balanced and diverse portfolio of high quality assets. Our culture of continuous improvement, focus on cost control and disciplined capital allocation continues to drive strong financial results and maximize value for our shareholders. In Q1/23, we delivered total quarterly production of approximately 1,319 MBOE‍/‍d, including record natural gas production of 2,139 MMcf/d and liquids production of 962,908 bbl/‍d. We generated strong quarterly free cash flow of approximately $1.4 billion, after dividends of approximately $0.9 billion and net base capital expenditures of approximately $1.1 billion. In addition, our strategic growth capital expenditures of approximately $0.28 billion in the quarter was targeted to provide mid-term growth across our asset base as we unlock value from our projects with strong capital efficiencies. With ample liquidity on our balance sheet, we can add production with minimal capital while generating significant returns on capital and maximizing shareholder value.

Canadian Natural Resources Limited Announces 2023 First Quarter Results (newsfilecorp.com)
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