Sitting on a Cash Pile 3.0? This Canadian Crude Oil Producer is a Top Pick

#develops #produces #markets #CrudeOil, #Nat Gas #NGLs #TopPick


Canadian Natural Resources Ltd. (NYSE:CNQ) is added to our Top Picks List with a 32 price target.

CNQ broke out on 16 June and pulled back, but is still trading above the I-cloud and closed trading Thursday at 17.70 just above its Strong Support line at 17.53. There is Key resistance at 19.78, a clear break above 22.49 augurs a Bull move to my 32 target price.

Recent News: Canadian Natural Resources Limited Prices $1.1-B in 5 and 10 Year Notes

Canadian Natural Resources Limited explores for, develops, produces, and markets Crude Oil, Nat Gas, and NGLs.

The company offers synthetic crude oil (SCO), light and medium crude oil, bitumen (thermal oil), primary heavy Crude Oil, and Pelican Lake heavy Crude Oil.

Its midstream assets include 2 Crude Oil pipeline systems, and a 50% working interest in an 84-megawatt cogeneration plant at Primrose.

As of 31 December 2019, the company had gross proved Crude Oil, bitumen, SCO, and NGLs reserves totaled 9,917-M bbls, gross proved + probable Crude Oil, bitumen, SCO, and NGLs reserves totaled 12,651-M bbls; proved Nat Gas reserves totaled 6,460-B cubic feet, and gross proved + probable Nat Gas reserves totaled 9,607-B cubic feet.

It operates primarily in Western Canada, the UK portion of the North Sea and Offshore Africa.

The company was formerly known as AEX Minerals Corporation and changed its name to Canadian Natural Resources Limited in December 1975.

Canadian Natural Resources Limited was incorporated in Y 1973 and is HQ’d in Calgary, Canada.

Have a healthy weekend, Keep the Faith!

#Canada#CNQ#Crude Oil#develops#explores#markets#nat gas#produces