Oil and gas giant Canadian Natural Resources Ltd. says it can weather a crude price much lower than where it’s been trading over the past month.
West Texas Intermediate, a U.S. benchmark for light oil, has been hovering around the US$60-per-barrel mark in recent weeks, about US$10 lower than it was just six months ago.
But Calgary-based Canadian Natural said it can cover maintenance capital and dividends in the low- to mid-US$40-per-barrel range, though it did not provide a breakdown of how each of its business segments would be affected.
Canadian Natural is one of Canada’s biggest oilsands producers, and is also active in western Canadian natural gas shales and offshore in the United Kingdom and Cote d’Ivoire….