Calgary, Alberta-based Canadian Natural Resources Ltd. CNQ is engaged in the acquisition, development and exploitation of crude oil and natural gas properties. It is one of the largest independent exploration and production (E&P) companies in Canada, with extensive heavy crude oil and natural gas developments.
Currently, Canadian Natural has a Zacks Rank #3 (Hold) but that could change following its fourth quarter 2015 earnings report which has just released. We have highlighted some of the key details from the just-released announcement below:
Earnings: Canadian Natural Resources reported adjusted loss of 3 U.S cents per share against the Zacks Consensus Estimate of profit of 5 U.S cents.
Revenue: The company reported quarterly revenues of C$2,793 million, substantially lower than the year-ago figure of C$ 4,384 million.
Key Stats: Canadian Natural reported quarterly production of 855,800 barrels of oil equivalent per day (BOE/d), 0.6% lower than the prior-year quarter level.
Natural gas production decreased to 1,703 million cubic feet per day (MMcf/d) from 1,733 MMcf/d in the fourth quarter of 2014. Oil and natural gas liquids (NGLs) production came at 572,000 barrels per day (Bbl/d) almost the same as the prior year quarter figure.
Check back later for our full write up on this Canadian Natural earnings report later!
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