Canadian Natural's quarterly profit rises 17 pct

Thu Mar 6, 2014 5:11am EST
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March 6 (Reuters) - Canadian Natural Resources Ltd, Canada's No.2 oil and gas company, reported a 17 percent rise in quarterly profit, helped by higher output at its Pelican Lake project in Alberta.

The company's net income rose to C$413 million ($373.3 million), or 38 Canadian cents per share, in the fourth quarter ended Dec. 31 from C$352 million, or 32 Canadian cents, a year earlier.

Canadian Natural said its heavy crude oil production at Pelican Lake jumped 27 percent to about 46,000 barrels per day.