Canadian Natural Resources Q2 Net Profit Rises, Production Down - Quick Facts

(RTTNews) - Canadian Natural Resources Ltd. (CNQ, CNQ.TO) reported Thursday that its second-quarter net earnings surged to C$2.83 billion from last year's C$982 million.

Earnings per share were C$2.36, higher than C$0.80 in the prior year.

Adjusted net earnings from operations were C$1.04 billion, compared to C$1.28 billion a year ago. Adjusted earnings per share were C$0.87, compared to C$1.04 in the previous year.

The company's equivalent production was 1.03 million barrels of oil equivalent per day or BOE/d, down from 1.05 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.

For the third quarter, production guidance before royalties is targeted to average between 897,000 bbl/d and 939,000 bbl/d of crude oil and NGLs and between 1,440 MMcf/d and 1,460 MMcf/d of natural gas.