Canadian Natural Resource/$CNQ
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Canadian Natural Resources is the largest producer of oil and the second-largest producer of natural gas in Canada. It is principally involved in extracting heavy oils, natural gas, and bitumen through its drilling and mining operations. Bitumen from mining operations is upgraded into synthetic crude oil. Commodities produced are primarily exported to the US via pipeline. The company also has smaller offshore production operations in the North Sea and Africa.
- iex2YB
- $CNQ
- N-0qSu
- Energy
- dTmIQK
- NYSE
- HHzdGS
- 10,750
- kFQl9u
- Calgary, Canada
- JkLHGw
- www.cnrl.com
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$98B
10.11
$4.77
0.91
$1.78
3.75%
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$98B
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0.91
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$56.27
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$30.13
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6.2M
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$1.78
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0.994
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0.732
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0.372
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0.417
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35.67%
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14.16%
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15,718.483
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52.92%
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29.51%
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30.67%
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22.97%
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$3,140,590
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9.97%
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32.39%
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10.107
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2.966
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2.98
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2.98
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10.966
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9.12%
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4.399
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3.68%
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3.75%
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24.16%
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114.13%
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9.92%
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17.14%
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28.28%
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36.99%
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11.53%
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18.27%
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Production hit a quarterly record of 1.677 million boe/d in Q2, up 18% year on year, and CNQ lifted its 2026 guidance for a second time after an acquisition and strong drilling. That gives the business a larger near-term production base. (SEC)
Record Q2 adjusted funds flow of C$6.9 billion funded C$2.4 billion of direct returns through dividends and buybacks, alongside C$1.6 billion of debt reduction. Net debt fell to C$14.5 billion, bringing the company closer to its C$13 billion threshold for returning all free cash flow to shareholders. (SEC)
Oil sands mining and upgrading costs were C$22.19 per barrel in Q2, while two-thirds of liquids production was higher-value synthetic crude, light oil and NGLs. The company reported a record per-barrel netback from these operations. (SEC)
The business remains exposed to oil prices: management expected the synthetic crude premium, which averaged US$8.37 per barrel over WTI in Q2, to ease towards parity. A sharp oil-price fall in early November underlined the potential for cash flow to swing with the market. (Yahoo Finance, Investing.com)
The planned Horizon turnaround was expected to reduce annual average production by about 29,000 barrels a day, and maintenance was expected to extend into early Q4. This could weigh on near-term volumes and raise costs. (SEC, Yahoo Finance)
Major expansions, including Jackfish and Pike 2, remain on hold until binding agreements with federal and Alberta governments are finalised. That delays potential production growth, with larger mining projects also awaiting the policy framework. (BNN Bloomberg, SEC)
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nPLfxb | S6gefV | fi8i8t |
|---|---|---|
iShares Oil & Gas Exploration & Production$IOGP | $438M | 10.20% |
iShares Oil & Gas Exploration & Production£SPOG | $438M | 10.20% |
iShares Oil & Gas Exploration & Production€IOGP | $438M | 10.20% |
iShares MSCI Canada€SXR2 | $2.4B | 3.20% |
iShares MSCI Canada£CSCA | $2.4B | 3.20% |
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