CNQ Production Surges by 18% in Q2

Canadian Natural Resources Ltd (NYSE:CNQ) reported strong Q2 production results, with output increasing by 18% year-over-year to approximately 1.68 million barrels of oil equivalent per day.

The company's crude and natural gas liquids production hit a record high of around 1.25 million barrels per day, while its oil sands mining reached a quarterly high of about 625 thousand barrels per day.

In other news, CNQ has paused the expansions of two major projects, Jackfish and Pike 2, until binding agreements with Canada and Alberta are signed.

The company also declared a quarterly cash dividend of C$0.625, marking its 26th consecutive year of dividend raises.