Oct 31 (Reuters) - Canadian Natural Resources ( CNQ ),

the country's largest oil and gas producer, said on Thursday it

would drill fewer dry natural gas well this year than originally

planned due to the decline in prices.

The country's natgas prices slumped to their lowest in more

than two years in the July-September quarter as storage levels

in Alberta reached full capacity due to weak demand across North

America.

Months of subdued prices had already prompted a number of

major producers, including Canadian Natural, to shut in or delay

completing natgas wells.

In August, Canadian Natural said it would delay completing

some new wells due to weak market conditions. It now said it

plans to drill a net total of 74 wells in 2024, 17 fewer than

its original target for the year.

However, it maintained its forecast of natgas production of

2.12-2.23 billion cubic feet per day (bcfpd) for the year.

That was despite a 4.7% drop in natgas production to 2.05

bcfpd in the latest third quarter, which led to a 2% drop in

overall production to 1.36 million barrels of oil equivalent per

day (boepd).

Canadian Natural's natgas realized price plunged 55.5% to

C$1.25 per thousand cubic feet in the quarter, while realized

prices for synthetic crude oil fell 7% to C$100.93 per barrel.

Global oil prices dropped during the quarter, hurt by

sluggish demand from top importer China and oversupply concerns.

The Calgary, Alberta-based company posted adjusted net

earnings from operations of 97 Canadian cents per share for the

quarter ended Sept. 30.

That was higher than analysts' average estimate of 90

Canadian cents per share, according to data compiled by LSEG.