{"id":704806,"date":"2010-03-30T10:02:00","date_gmt":"2010-03-30T14:02:00","guid":{"rendered":"e2249889-c78b-43e3-9643-b1d7d4aa587b:416119"},"modified":"2010-03-30T10:02:00","modified_gmt":"2010-03-30T14:02:00","slug":"billion-dollar-purchases-for-canadian-natural-resources-unlikely","status":"publish","type":"post","link":"https:\/\/mereja.com\/index\/704806","title":{"rendered":"Billion-dollar purchases for Canadian Natural Resources unlikely"},"content":{"rendered":"<p>Investors hoping for a stock catalyst from <a href=\"http:\/\/www.financialpost.com\/markets\/company\/index.html?symbol=CNQ&amp;id=97448\" >Canadian Natural Resources Ltd.<\/a> in the form of a big multi-billion acquisition will likely be disappointed, a new note said. <\/p>\n<p>That&#39;s the impression Greg Pardy, RBC Capital Markets analyst,  got after meeting with company president Steve Laut recently.<\/p>\n<p>&quot;While our recent meeting &#8230; yielded no earth-shattering revelations, we believe it is unlikely that the independent has a multibillion acquisition sitting on the sidelines,&quot; he said in a note.<\/p>\n<p>However, the company is assessing natural gas packages on the market and may elect for a smaller deal for something that overlaps its land positions in western Canada. There are also always international development opportunities, such as in the Middle East, he said. <\/p>\n<p>Apparently Mr. Pardy is also constantly asked what the company&#39;s next stock catalyst will be.<\/p>\n<p>&quot;To be fair \u2014 with the exception of the precise timing at which its Horizon oil sands project will break the 100,000 barrel\/day level on a sustained basis, Canadian Natural Resources&#39;s project roster has been pretty well defined with further expansion at Kirby and Horizon,&quot; he said.<\/p>\n<p>For the first quarter, Canadian Natural Resources forecasts the Horizon project in Alberta to average 70,000 &#8211; 90,000 barrels a day in the first quarter of the year. <\/p>\n<p>The project should give the company a boost to its free cash flow of about $2.8-billion ($5.22 a share) in 2010. It&#39;d better be worth it, as the next phase of expansion for Horizon could be a pricey one: a 100,000 barrel\/day synthetic oil expansion at the site could cost anywhere from $10-billion to $12.5-billion, Mr. Pardy noted.<\/p>\n<p>Mr. Pardy maintains an Outperform rating and target price of $95 a share for Canadian Natural Resources.<\/p>\n<p><a href=\"mailto:erlam@nationalpost.com\">Eric Lam<\/a><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/network.nationalpost.com\/NP\/aggbug.aspx?PostID=416119\" width=\"1\" height=\"1\"><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Investors hoping for a stock catalyst from Canadian Natural Resources Ltd. in the form of a big multi-billion acquisition will likely be disappointed, a new note said. That&#39;s the impression Greg Pardy, RBC Capital Markets analyst, got after meeting with company president Steve Laut recently. &quot;While our recent meeting &#8230; yielded no earth-shattering revelations, we [&hellip;]<\/p>\n","protected":false},"author":2957,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[12076,4821],"tags":[],"class_list":["post-704806","post","type-post","status-publish","format-standard","hentry","category-energy","category-news"],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9NivD-2XlQ","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/mereja.com\/index\/wp-json\/wp\/v2\/posts\/704806","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.com\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.com\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.com\/index\/wp-json\/wp\/v2\/users\/2957"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.com\/index\/wp-json\/wp\/v2\/comments?post=704806"}],"version-history":[{"count":0,"href":"https:\/\/mereja.com\/index\/wp-json\/wp\/v2\/posts\/704806\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.com\/index\/wp-json\/wp\/v2\/media?parent=704806"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.com\/index\/wp-json\/wp\/v2\/categories?post=704806"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.com\/index\/wp-json\/wp\/v2\/tags?post=704806"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}