TSX:CNQOil and Gas
Canadian Natural Resources Record Output And Bitumen Shift Underpins Valuation
Canadian Natural Resources reported record quarterly production.
Output was supported by a recent asset swap with Shell Canada.
The transaction added zero decline bitumen production to the company’s portfolio.
For investors watching TSX:CNQ, this update comes with the shares at around CA$51.11 and a 1 year return of 21.3%. Over 3 years the stock is up 49.2%, and over 5 years the return is about 7x.
The record production and added zero decline bitumen assets could have implications for how...