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.