- Zacks
Canadian Natural Resources (CNQ) Lags Q1 Earnings Estimates
Canadian Natural Resources (CNQ) delivered earnings and revenue surprises of -1.92% and 1.75%, respectively, for the quarter ended March 2024. Do the numbers hold clues to what lies ahead for the stock?
- Reuters
UPDATE 2-Canadian Natural Resources misses first-quarter profit estimates on lower sales, pricing
Canada's largest oil and gas producer Canadian Natural Resources missed analysts' estimates for first-quarter profit on Thursday, hurt by lower-than-expected production, along with a decrease in sales and realized pricing. The firm posted an adjusted profit of C$1.37 per share, below analysts' average estimates of C$1.48 per share, according to LSEG data. The company in its outlook for 2024 in December said that it expects to drill more wells in the second half and exit the year with higher production to better align with market fundamentals and improved commodity pricing.
- Reuters
UPDATE 1-Canada regulator approves final permits for Trans Mountain pipeline expansion
The Canada Energy Regulator (CER) on Tuesday approved the final permits for the Trans Mountain oil pipeline expansion, clearing the way for the project to start operating after years of delays and massive cost overruns. Trans Mountain said this month the pipeline would start operating on May 1, but some shippers including Canadian Natural Resources Ltd, were skeptical it would receive all necessary permits from the CER in time. The pipeline is now authorized to carry crude from Trans Mountain's Edmonton Terminal in Alberta to its Westridge Marine Terminal in British Columbia, the regulator said in a statement.
