Canadian Natural (TSE:CNQ) has released an update.
Canadian Natural Resources Limited reported robust second quarter results, with a notable 8% increase in production to 1,286,000 BOE/d from the previous year, and achieved a major milestone with the production of the billionth barrel of bitumen at Horizon. The company also highlighted the positive impact of the Trans Mountain Expansion pipeline on the Canadian economy and energy industry. Strong financial performance led to significant free cash flow, allowing for considerable returns to shareholders including a projected 100% free cash flow distribution in 2024.
For further insights into TSE:CNQ stock, check out TipRanks’ Stock Analysis page.
