Canadian Natural Resources Attains 1,142 mboe/d in Q2 2021

Canadian Natural Resources Attains 1,142 mboe/d in Q2 2021

Canadian Natural Resources announced positive results for Q2 2021, achieving production volumes of approximately 1,142 mboe/d during the quarter, the company said in a statement.

The company also managed to decrease its net debt by around $3.1 billion,

Moreover, it returned around $1.3 billion to shareholders in share repurchase and divides.

“Canadian Natural is in a strong position as our vast and diverse asset base delivered strong operational and financial results in Q2/21, as we achieved production volumes of approximately 1,142 million barrels of oil equivalent per day (mmboe/d) in the quarter, notwithstanding the planned turnaround at our Oil Sands Mining and Upgrading operations,” Tim McKay, the company’s president, commented.

The company boosted its 2021 capital budget to reach $3.48 billion, as it led activities for future growth.

Canadian Natural Resources’ capital budget increase included “$120 million for conventional and unconventional assets, $110 million for long life low decline assets and $45 million in additional well abandonment activities,” the company said.

Sarah Samir 2896 Posts

Sarah has been writing in the oil and gas field for 8 years. She has a Bachelor Degree in English Literature. She has three years of experience in the banking sector.

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