CNQ’s Management Working On Details For Expansion

Analysts at Versant Partners maintain their "buy" rating on Canadian Natural Resources Ltd CNQ. The target price for CNQ is set to $44.5. The management of CNQ has effectively “reiterated the aspects of the company and the strategy that makes Canadian Natural Resources the best Canadian senior producer.” According to the analysts, “Every region of the company is generating free cash flow, long term growth is clearly visible and self financeable, the balance sheet has been significantly strengthened year over year and management remains keenly focused on controlling costs and allocating capital in order to generate the highest recycle ratio possible.” Versant Partners mentions, “North American “Conventional” – Pelican Lake, Primrose and Septimus should contribute to growth this year…We expect to see a cost estimate for phases 2/3 and project sanctioning of the expansion before year end or early 2011… North Sea operations are focused on controlling costs.” The management stated that “there must be greater cost certainty before proceeding with expansion plans.” More Analyst Ratings here