By The Canadian Press, August 3, 2017
CALGARY – Canadian Natural Resources Ltd. (TSX:CNQ) trimmed its capital spending plan for this year as it reported a profit of $1.07 billion in its latest quarter compared with a loss a year ago.
The oilsands company says it has decreased its capital spending program by about $180 million for 2017. It had said it March that it planned to spend about $3.9 billion this year.
The decision came as Canadian Natural also raised the mid-point of its 2017 annual liquids and barrels of oil equivalent production guidance by 11,000 bbl/d and 3,000 BOE/d respectively.