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The Financial Post reported that Independant oil and gas producer Canadian Natural Resources has tripled its profits for the first quarter. The gain is due largely to higher prices for oil and natural gas, according to the Post.
The Financial Post reported that Independant oil and gas producer Canadian Natural Resources (TSX:CNQ) has tripled its profits for the first quarter. The gain is due largely to higher prices for oil and natural gas, according to the Post.
As quoted in the publication:
The company said net income was $622-million, or 57 cents per share, up from $213-million, or 19 cents, in the first quarter of 2013. Adjusted profit, which excludes most one-time items, more than doubled to $921-million, or 85 cents per share, from $401-million, or 37 cents. Analysts, on average, expected the company to post an operating profit of 79 cents per share, according to Thomson Reuters I/B/E/S.