Canadian Natural Resources Limited (NYSE:CNQ) Q1 2024 Earnings Conference Call May 2, 2024 8:30 AM ET
Company Participants
Lance Casson - Investor Relations
Scott Stauth - Chief Operating Officer, Oil Sands
Mark Stainthorpe - Chief Financial Officer
Conference Call Participants
Menno Hulshof - TD Cowen
Greg Pardy - RBC Capital Markets
Dennis Fong - CIBC World Markets
Mike Dunn - Stifel
Neil Mehta - Goldman Sachs.
Operator
Good morning. We would like to welcome everyone to the Canadian Natural's 2024 First Quarter Earnings Conference Call and Webcast. After the presentation, we will conduct a question-and-answer session. Instructions will be given at that time. Please note, this call is being recorded today, May 02, 2024 at 07:00 AM Mountain Time.
I would now like to turn the meeting over to your host for today's call, Lance Casson, Manager of Investor Relations. Please go ahead.
Lance Casson
Good morning, everyone, and thank you for joining Canadian Natural's first quarter 2024 earnings conference call. Before we begin, I'd like to remind you of our forward-looking statements and it should be noted that in our reporting disclosures, everything is in Canadian dollars, unless otherwise stated, and we report our reserves and production before royalties. Additionally, I would suggest you to review our comments on non-GAAP disclosures in our financial statements.
Speaking on today's call will be Scott Stauth, our President and Mark Stainthorpe, our Chief Financial Officer. Scott will first provide highlights on our safe, reliable and world-class operations and help through our defined plan, effective and efficient operations, and strong execution for targeting robust production in the second half of 2024. Mark will then summarize our financial results, including strong shareholder returns. To close, Scott will summarize prior to open up the client for questions.
With that, over to you, Scott.
Scott Stauth
Thank you, Lance, and good morning, everyone. Canadian Natural has been in operation for 35 years and has always been focused on returns on capital and creating value for shareholders.
2024 marks an important milestone as we are delivering 100% of free cash flow to shareholders this year. And with strong crude oil strip pricing for the remainder of the year, we are targeting to generate significant free cash flow.
With our large diverse assets, we have plenty of growth opportunities to continue to create long-term shareholder value and have the flexibility to manage the pace and timing of these development opportunities.