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Stock Monitor: Mexco Energy Post Earnings Reporting
LONDON, UK / ACCESSWIRE / July 23, 2018 / If you want access to our free research report on Canadian Natural Resources Ltd (NYSE: CNQ), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=CNQ as the Company's latest news hit the wire. On July 19, 2018, the Company announced that its Athabasca Oil Sands Project (AOSP) has achieved the production target of mining one billion barrels since it started operations in FY03. Canadian Natural Resources is the operator of the Jackpine and Muskeg River mines at the AOSP. Register today and get access to over 1,000 Free Research Reports by joining our site below:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Canadian Natural Resources most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
Sharing his views on this remarkable achievement, Tim McKay, President of Canadian Natural Resources, said:
"This is a significant milestone and demonstrates the size and scale of Canada's oil sands mining operations. The oil sands, through responsible development, provide sustainable, long-life, low decline production and significant value for stakeholders. This milestone could not have been achieved without the dedication of the employees and contractors who focus on safe, reliable operations, while minimizing our environmental footprint to ensure long-term sustainable development."
About the Athabasca Oil Sands Project (AOSP)
The AOSP consists of mining and extraction operations from the two oil sands mines, Muskeg River and Jackpine, as well as other nearby mineable leases. These assets are located north of Fort McMurray, Alberta, Canada, and Canadian Natural Resources is the operator for these assets. The AOSP also includes the Scotford upgrader and Quest CCS project located in northeast of Edmonton, Alberta. These assets are operated by Shell Canada. The Company acquired direct and indirect 70% working interest in the AOSP and 100% working interest in other heavy crude oil and thermal in situ assets in May 2017. The other partners in AOSP are Chevron Canada Ltd with 20% interest and Shell Canada Ltd with 10% interest.
The production at the Muskeg River Mine started in 2003, while the production at the Jackpine Mine started in 2010. The Company uses the paraffinic bitumen extraction process for mining at both these locations. The Muskeg River Mine has a production capacity of 154,000 barrels per day of gross dry bitumen with proven reserves of 1,563 million barrels (gross), while the Jackpine Mine has a production capacity of 126,000 barrels per day of gross dry bitumen with proven reserves of 2,127 million barrels (gross).
About Canadian Natural Resources Ltd
Calgary, Alberta-based Canadian Natural Resources is a leading oil and natural gas production organization. The Company has conventional crude oil and natural gas operations in domestic and international basins, as well as a world class oil sands mining and thermal oil sands operations across Western Canada, the UK portion of the North Sea, and Offshore Africa. The Company has one of the most diversified asset portfolio for an independent energy producer, which consists of natural gas, light crude oil, heavy crude oil, bitumen, and synthetic crude oil (SCO). For FY17, the Company's annual production of crude oil and NGL was 685,236 barrels per day.
Stock Performance Snapshot
July 20, 2018 - At Friday's closing bell, Canadian Natural Resources' stock marginally rose 0.28%, ending the trading session at $35.23.
Volume traded for the day: 1.55 million shares.
Stock performance in the last month – up 10.02%; and past twelve-month period – up 16.04%
After last Friday's close, Canadian Natural Resources' market cap was at $43.64 billion.
Price to Earnings (P/E) ratio was at 20.49.
The stock has a dividend yield of 2.87%.
The stock is part of the Basic Materials sector, categorized under the Independent Oil & Gas industry. This sector was up 0.1% at the end of the session.
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