26.93 0.00 (0.00%)
After hours: 4:33PM EDT
|Bid||26.97 x 800|
|Ask||26.98 x 4000|
|Day's Range||26.32 - 27.01|
|52 Week Range||21.85 - 37.41|
|Beta (3Y Monthly)||0.79|
|PE Ratio (TTM)||11.67|
|Forward Dividend & Yield||1.11 (4.12%)|
|1y Target Est||40.74|
Encana (ECA) expects second-quarter output within 585-595 MBOE/d, indicating a year-over-year and sequential growth of 74.5% and 4.1%, respectively, at the midpoint.
CALGARY, Alberta, June 08, 2019 -- Canadian Natural Resources Limited (“Canadian Natural” or the “Company”) provides an update on its Pelican Lake and Woodenhouse operations..
Canadian Natural Resources (CNQ) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
The Zacks Analyst Blog Highlights: Chevron, Canadian Natural Resources, Devon Energy, TC Energy and Plains All American Pipeline
Chevron (CVX) moved closer to its goal of pulling out of UK exploration and production, while Canadian Natural Resources (CNQ) decided to solidify its position on its home turf.
CALGARY, Alberta, May 31, 2019 -- With the protection and safety of our people and assets as the utmost priority, Canadian Natural Resources Limited (“Canadian Natural”) is.
The complementary asset base of Devon Energy will not only boost Canadian Natural Resources' (CNQ) output, but also lead to synergy benefits of C$135 million on an annualized basis.
Moody's Investors Service ("Moody's") said that Canadian Natural Resources Limited's (CNRL) announced acquisition of Devon Canada's (Devon Canada) Canadian assets for C$3.775 billion is credit negative because it increases CNRL's exposure to volatile heavy oil differentials, but has minimal impact on leverage given the modest 2.65x multiple paid on the C$3.25 billion net purchase price. The net purchase price is the amount that will be debt-funded by CNRL and reflects the Devon Canada cash flow accruing to CNRL given the January 1, 2019 effective date versus the June 27, 2019 targeted closing date.
Devon Energy (DVN), which focuses more on profitable domestic oil assets, decides to sell the Canadian business for $2.8 billion.
The company’s $2.8 billion purchase of Devon Energy Corp.’s Jackfish brings Canadian Natural’s oil-sands production capacity to more than 700,000 barrels a day compared with more than 900,000 barrels a day controlled by Suncor, according to data compiled by Oil Sands Magazine. The Devon purchase marks the company’s second major acquisition in the oil sands in the past two years after it bought most of Royal Dutch Shell Plc’s oil-sands operations in 2017, making it Canada’s largest overall oil producer with more than one million barrels a day of production worldwide.
Canadian Natural Resources can't yet claim the King of the Oil Sands status, but it's a lot closer to overtaking its rival Suncor Energy after buying a key Athabasca drilling site.
Devon Energy says it is selling nearly all of its assets in Canada to Canadian Natural Resources for $2.8 billion. The Oklahoma City-based oil and gas company included in the S&P 500 put its Canadian assets up for sale in February in a plan to focus on growth from wells drilled in U.S. shale fields. Officials with Calgary-based Canadian Natural Resources say Devon's "high-quality" assets will provide further balance to their production profile.
It gives CNRL control over assets that had net production averaging 113,000 oil-equivalent barrels in the first quarter, the companies said Wednesday. Edwards, CNRL’s chairman and largest individual shareholder, has helped build the company into Canada’s largest energy producer. The Devon assets “fit well with Canadian Natural’s land base, and we believe that the company can look to repay leverage quickly with its free cash flow,” Canaccord Genuity analyst Dennis Fong said in a note to clients.
U.S. oil and gas producer Devon Energy Corp said on Wednesday it would sell its Canadian assets to Canadian Natural Resources Ltd for C$3.8 billion ($2.81 billion) in cash to focus purely on U.S. production. While U.S. oil companies have been investing in onshore shale production at home amid a surge in output, international companies like Royal Dutch Shell and ConocoPhillips have shed assets in Canada for several years as limited pipeline space has curtailed prices and growth prospects. Devon's investments have been in the so-called SCOOP and STACK regions, fast-growing shale oil basins in Oklahoma that have attracted investment from crude producers expanding beyond the Permian.
The heavy-oil assets in the province of Alberta include thermal in situ (or steam assisted gravity drainage) oilsands production (about 108,200 a day) and its conventional primary heavy crude oil operations (20,100 a day) located near Canadian Natural assets. At the end of last year, proved reserves associated with the properties amounted to about 409 million barrels of oil, Devon said Wednesday in a statement. "These high-quality assets complement our existing asset base and provide further balance to our production profile," Canadian Natural Resources President Tim McKay said in a separate statement.
Devon Energy's Canadian business includes heavy oil assets mostly located in Alberta with net production averaging 113,000 oil-equivalent barrels in the first quarter of 2019. As of the end of 2018, the Canadian business had a proven reserve of 409 million barrels of oil. Devon Energy CEO Dave Hager said the asset sale is consistent with the company's transformation to become a U.S.-focused oil growth business.
Oil and gas producer Canadian Natural Resources Ltd said on Wednesday it would buy the Canadian assets of its U.S. peer Devon Energy Corp for about C$3.8 billion . The deal is expected to close by June ...
CALGARY, Alberta, May 29, 2019 -- Canadian Natural Resources Limited (“Canadian Natural” or the “Company”) announces it has entered into an agreement, subject to regulatory.
The outlook for Canadian producers with strong balance sheets and efficient production is probably as favorable as it's been for the last five years, suggests Gavin Graham, contributing editor to Internet Wealth Builder.
Canadian Natural Resources Limited ("Canadian Natural") announced today that the Toronto Stock Exchange has accepted notice filed by Canadian Natural of its intention to make a Normal Course Issuer Bid (“NCIB”) through the facilities of the Toronto Stock Exchange or other alternative Canadian trading systems. Purchases may also be made through the facilities of the New York Stock Exchange. The notice provides that Canadian Natural may, during the 12 month period commencing May 23, 2019 and ending May 22, 2020, purchase for cancellation up to 59,729,706 common shares, being 5% of the 1,194,594,136 issued and outstanding common shares as at May 10, 2019.
Canadian Natural Resources (CNQ) expects Q2 liquids production within 773,000-831,000 Bbl/d and natural gas output in the band of 1,500-1,530 MMcf/d.
CALGARY, Alberta, May 14, 2019 -- Canadian Natural held its Annual and Special Meeting of the Shareholders on May 9, 2019. The result of the vote by shareholders for each.
Canadian Natural Resources Ltd said on Thursday it is against proposed changes to shipping agreements on Enbridge Inc's Mainline pipeline system because it does not want to be "held hostage" to one delivery point for its crude. The Enbridge Mainline system delivers 2.85 million barrels of crude per day from western Canada to the U.S. Midwest, an area known as Padd 2, where it connects to other pipelines stretching across North America. Enbridge is proposing to shift away from a monthly allocation system to long-term, set-volume contracts.