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Canadian Natural Resources: Well-Positioned For Energy Upside

Canadian Natural Resources (NYSE:CNQ), almost a pure producer, is Canada's third largest energy company by market capitalization (CAD $42.47 billion). Only Suncor (NYSE:SU), at $56 billion and Enbridge (NYSE:ENB) at $53 billion are larger. Like all the producers, it has suffered considerably from the current slide prices, having fallen some 33% from its July 2014 high of $46.23 to its February 2 closing price of $30.95 (USD). At the same time, the company's balance sheet is strong, its operating costs are competitive, and its production is holding firm. Moreover, Canadian Natural has a number of particular features that should position it well as oil prices eventually climb…