Canadian Natural Resources hits $100B market valuation

Canadian Natural Resources Ltd. became the first oil and gas producer listed in Toronto to surpass $100 billion (US$79.3 billion) in market value, after rising 1.9 per cent to hit a new all-time high of $86.42 on Wednesday. The Calgary-based oil producer led by billionaire oilman N. Murray Edwards is now the fourth most valuable publicly traded oil and gas producer on the continent behind only Exxon Mobil Corp., Chevron Corp. and ConocoPhillips. The stock is up 180 per cent since the beginning of 2021, propelling the company’s market value past Suncor Energy Inc., which was the most valuable Canadian oil producer, as well as major American competitors like Pioneer Natural Resources Co., even after adjusting for U.S. dollars.-- More...