Canadian Natrl Res beats by CC$0.08, beats on revs :
- Reports Q4 (Dec) loss of CC$0.04 per share, CC$0.08 better than the Capital IQ Consensus of (CC$0.12); revenues fell 36.3% year/year to CC$2.79 bln vs the CC$2.66 bln Capital IQ Consensus.
- Total crude oil and NGL production was 572,000 bbl/d for Q4/15, which was comparable to Q4/14 and Q3/15 levels.
- For 2016, Canadian Natural targets its capital program to range from $3.5 billion to $3.9 billion, with overall 2016 production volumes targeted to be 2% less than 2015 annual production volumes, at the midpoint of guidance. The majority of the Company's expenditure program, approximately $2 billion, is allocated to advancing the completion of Phases 2B and 3 of the Horizon expansion project.
- Overall production in 2016 is targeted to be between 809,000 BOE/d and 868,000 BOE/d, with a product mix of approximately 64% crude oil and NGLs and 36% natural gas
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