Canadian Natural Q3 Profit Down, Issues FY19 Production Guidance - Quick Facts

(RTTNews) - Canadian Natural Resources Ltd. (CNQ, CNQ.TO) reported Thursday that its third-quarter net earnings plunged to C$1.03 billion or C$0.87 per share from last year's C$1.80 billion or C$1.47 per share.

Adjusted net earnings from operations were C$1.23 billion or C$1.04 per share, compared to C$1.35 billion or C$1.11 per share a year ago.

The company's equivalent production was 1.18 million barrels of oil equivalent per day or BOE/d, up 11 percent from 1.06 BOE/d last year.

Looking ahead, the company targets annual 2019 production levels to average between 839,000 bbl/d and 888,000 bbl/d of crude oil and NGLs and between 1,485 MMcf/d and 1,545 MMcf/d of natural gas, before royalties.

Canadian Natural's annual 2019 capital expenditures are targeted to be approximately C$3.8 billion.

Additionally, Canadian Natural announced its Board of Directors has declared a quarterly cash dividend on its common shares of C$0.375 per common share, payable January 1, 2020 to shareholders of record at the close of business on December 11, 2019.