Canadian Natural Resources: Difference between revisions

Canadian Natural Resources Limited
Company type	Public company
Traded as	TSX: CNQ; NYSE: CNQ; S&P/TSX 60 component
Industry	Oil and gas
Founded	Calgary, Alberta (1973)
Headquarters	Calgary, Alberta
Key people	Steve Laut, President; Tim S. Mckay, COO; Murray Edwards, chairman of the board
Products	Petrochemical products
Revenue	$16.195 billion CAD (2012, before royalties)
Number of employees	6,671 (Dec 2013)
Website	www.cnrl.com

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Canadian Natural Resources Limited, or CNRL, is an oil and gas exploration, development and production company with its corporate head office in Calgary, Alberta. Along with its core area Western Canadian Sedimentary Basin (WCSB),^[2], CNRL also has North Sea and offshore West Africa fields. By 2011, with a production of 121,000 barrels (19,200 m³), CNRL was Canada's largest oil company and Canada's "single biggest conventional heavy oil producer."^[3] By 2009 CNRL ranked number 251 on the Forbes Global 2000 list.^[4]

CNRL is one of the largest independent crude oil and natural gas producers in the world, with its head office in Calgary, and operations focused in the Western Canadian Sedimentary Basin,^{[notes 1]}^[2] the North Sea and offshore West Africa.

Operations

Corporate Headquarters resides in Calgary, Alberta. It operates field offices in Alberta, British Columbia, Saskatchewan as well as international offices in Gabon, Côte d'Ivoire and Aberdeen, Scotland.

Western Canadian Sedimentary Basin (WCSB)

Canadian Natural has the largest undeveloped land base in the Western Canadian Sedimentary Basin (WCSB). CNRL's North America assets include "conventional and unconventional natural gas, along with projects in crude oil, including primary, secondary and tertiary light, medium and heavy production, in situ oil sands and oil sands mining."^[5]

Heavy Crude Oil

Canadian Natural is the "largest primary heavy crude oil producer in Canada."^[6]

Pelican Lake

CNRL's leading edge polymer flood at Pelican Lake pool contains 4.1 billion barrels of heavy crude oil initially in place and delivered a strong response in 2012."^[6]

Horizon Oil Sands

See main article Horizon Oil Sands

Canadian Natural's largest operation to date is the Horizon Oil Sands project which is located 75km north of Fort McMurray, Alberta.

CNRL"s Primrose field produced to "99,000 barrels per day"^[2] Synthetic Crude Oil (SCO) in 2012, c.100,000 to 107,000 barrels per day in 2013^[7] and expects to "add value for decades."^[2] Canadian Natural Resources Limited is an oil and gas exploration, development and production company centered in Calgary, Alberta. Canadian Natural uses the Kirby South Steam Assisted Gravity Drainage (SAGD) extraction^[2] method including both the cyclical^{[notes 2]} and steam-assisted gravity drainage (SAGD) technologies the Primrose and Wolf Lake – Thermal in Situ located approximately 55 km north of Bonnyville.^[8]

The Canadian Natural Resources Ltd.'s "operations use an "in situ" or underground extraction technology called cyclic steam stimulation, which involves injecting thousands of gallons of superhot, high-pressure steam into deep underground reservoirs. This heats and liquefies the hard bitumen and creates cracks through which the bitumen flows and is then pumped to the surface.^[9]^[10] This is not a spill but a pipeline blowout due to the cyclic steam stimulation extraction method.^[11] By June 29 the Canadian Natural Resources claimed the "oil and water leak" at Primrose "affected four hectares of slough."^[7]

On 24 June 2013 CNRL noticed a "mixture of heavy oil and water was discovered on Monday near Pad 22 on its Primrose thermal in situ oilsands project located on the Cold Lake Air Weapons Range."^[7] On 27 June 2013, the Alberta Energy Regulator's press release described it as a "release of bitumen emulsion to surface at a high pressure cyclic steam project" in an "off lease area that has impacted a nearby slough." The AER and the Alberta Environment and Sustainable Resource Development are monitoring the release and investigating the cause.^[12] Clean-up began in May 2013.^[11] In July 2013 the Alberta Energy Regulator told the Canadian Natural Resources Ltd. to stop injecting steam into the ground near Cold Lake after a series of four spills.^[11]^[13] They have been "unable to stop an underground oil blowout that has killed numerous animals and contaminated a lake, forest, and muskeg at its operations in Cold Lake, Alta. The documents indicate that, since cleanup started in May, some 26,000 barrels of bitumen mixed with surface water have been removed, including more than 4,500 barrels of bitumen."^[9] The 2013 incident appeared to be similar to one that occurred at Primrose on 3 January 2009.^[7]

History

In 1989, CNRL was an oil and natural gas company operating only in Alberta which employed 9 people, produced about 1,400 barrels (220 m³) of oil equivalent per day and had a market capitalization of about $1 million. Through growth and acquisitions, it has grown to approximately 5000 employees, production of over 565,000 barrels (89,800 m³) of oil equivalent per day and a market capitalization of approximately $40 billion.

Trading

Canadian Natural's common shares are listed on the New York Stock Exchange under the symbol CNQ and under the Toronto Stock Exchange as CNQ and CNQ.U which denotes trading in US funds.

Corporate governance

Canadian Natural is a limited liability, publicly traded corporation. Current members of the board of directors are: Catherine M. Best, N. Murray Edwards, Honourable Gary A. Filmon, Ambassador Gordon D. Giffin, John G. Langille, Steve W. Laut, Keith A.J. MacPhail, Allan P. Markin, Honourable Frank J. McKenna, James S. Palmer, Eldon R. Smith and David A. Tuer.

Notes

^ Of the provinces and territories within the WCSB, Alberta has most of the oil and gas reserves and almost all of the oil sands.
^ The Primrose project uses "CSS or cyclic steam stimulation, also called "huff and puff," where steam is injected under pressure into the formation to melt the heavy, sticky oil, then shut off while the warmed oil is pumped out. Then the process is repeated."

Cite error: A list-defined reference named "FOOTNOTEHealing2013" is not used in the content (see the help page).

Citations

^ CNRL 2013b.
^ ^a ^b ^c ^d ^e CNRL 2013b, p. 1. Cite error: The named reference "FOOTNOTECNRL2013b1" was defined multiple times with different content (see the help page).
^ McKenzie-Brown 2011.
^ Forbes 2009.
^ 2013 & CNRL.
^ ^a ^b CNRL 2013b, p. 6.
^ ^a ^b ^c ^d Healing 2013.
^ CNRL 2013.
^ ^a ^b Pullman and Lukacs 2013.
^ CAPP 2009.
^ ^a ^b ^c Pratt 2013.
^ Alberta Energy Regulator 2013.
^ Huntington Post 2013.

References

Alberta Energy Regulator responding to emulsion release in Cold Lake (PDF). Alberta Energy Regulator (Report). 27 July 2013. Retrieved 24 July 2013.
Solvents in situ: the Hybrid Car of the Oil Sands. CAPP (Report). Canadian Association of Petroleum Producers. 2009. Oil sands operators are exploring the use solvents with steam-assisted gravity drainage (SAGD) to help loosen and extract bitumen. Laricina Energy CEO Glen Schmidt likens the technology to a hybrid car
"CNRL Oil Spills Protested Outside Calgary-Based Corporation". Huntington Post. 25 July 2013. Retrieved 23 Jluy 2014. {{cite news}}: Check date values in: |accessdate= (help)
World Class Assets. CNRL (Report). 2013.
"Primrose and Wolf Lake – Thermal in Situ". CNRL. Canadian Natural Resources Limited. 2013a. Retrieved 23 July 2014.
"2012 Annual Report: The Premium Value Defined Growth Independent" (PDF), CNRL, Calgary, Alberta, p. 103, 2013b, retrieved 23 July 2014
"The Global 2000". Rorbes. 8 April 2009. Retrieved 11 September 2012. See Forbes
Healing, Dan (2 July 2013). "Primrose oil leak spreads over four hectares:Canadian Natural says bitumen emulsion won't affect production". {{cite news}}: |access-date= requires |url= (help)CS1 maint: ref duplicates default (link)
McKenzie-Brown, Peter (6 April 2011), The big five: Canada's top conventional heavy oil producers in profile, Calgary, Alberta, retrieved 23 July 2014{{citation}}: CS1 maint: location missing publisher (link) CS1 maint: ref duplicates default (link)
Pullman, Emma; Lukacs, Martin (19 July 2013). "Nobody understands' spills at Alberta oil sands operation: Oil spills at an oil sands operation in Cold Lake, Alberta have been going on for weeks with no end in sight, according to a government scientist". Toronto, ON: The Toronto Star.
Pratt, Sheila (27 September 2013). "First Nations angry over leak proposal: Bands were not consulted about CNRL plan to drain small lake". Edmonton Journal. Edmonton, Alberta. Retrieved 22 July 2014.{{cite news}}: CS1 maint: ref duplicates default (link)

External links

Official website

[5] Of the provinces and territories within the WCSB, Alberta has most of the oil and gas reserves and almost all of the oil sands.

[9] The Primrose project uses "CSS or cyclic steam stimulation, also called "huff and puff," where steam is injected under pressure into the formation to melt the heavy, sticky oil, then shut off while the warmed oil is pumped out. Then the process is repeated."

[FOOTNOTECNRL2013b-1] CNRL 2013b.

[FOOTNOTECNRL2013b1-2] CNRL 2013b, p. 1. Cite error: The named reference "FOOTNOTECNRL2013b1" was defined multiple times with different content (see the help page).

[FOOTNOTEMcKenzie-Brown2011-3] McKenzie-Brown 2011.

[FOOTNOTEForbes2009-4] Forbes 2009.

[FOOTNOTE2013CNRL-6] 2013 & CNRL.

[FOOTNOTECNRL2013b6-7] CNRL 2013b, p. 6.

[FOOTNOTEHealing2013-8] Healing 2013.

[FOOTNOTECNRL2013-10] CNRL 2013.

[FOOTNOTEPullman_and_Lukacs2013-11] Pullman and Lukacs 2013.

[FOOTNOTECAPP2009-12] CAPP 2009.

[FOOTNOTEPratt2013-13] Pratt 2013.

[FOOTNOTEAlberta_Energy_Regulator2013-14] Alberta Energy Regulator 2013.

[FOOTNOTEHuntington_Post2013-15] Huntington Post 2013.

[1]

[2]

[3]

[4]

[notes 1]

[5]

[6]

[7]

[notes 2]

[8]

[9]

[10]

[11]

[12]

[13]

@@ Line 16: / Line 16: @@
 | homepage       = {{URL|http://www.cnrl.com/}}
 }}
-'''Canadian Natural Resources Limited''', or '''CNRL''', is an oil and gas exploration, development and production company with its corporate head office in [[Calgary, Alberta]]. Along with its core area [[Western Canadian Sedimentary Basin]] (WCSB),{{Sfn|CNRL|2013b|page=1}}, CNRL also has [[North Sea]] and offshore West Africa fields. It ranked number 251 on the [[Forbes Global 2000]] list for 2009.{{Sfn|Forbes|2009}}
+'''Canadian Natural Resources Limited''', or '''CNRL''', is an oil and gas exploration, development and production company with its corporate head office in [[Calgary, Alberta]]. Along with its core area [[Western Canadian Sedimentary Basin]] (WCSB),{{Sfn|CNRL|2013b|page=1}}, CNRL also has [[North Sea]] and offshore West Africa fields. By 2011, with a production of {{convert|121000|oilbbl|m3}}, CNRL was Canada's largest oil company and Canada's "single biggest conventional heavy oil producer."{{Sfn|McKenzie-Brown|2011}} By 2009 CNRL ranked number 251 on the [[Forbes Global 2000]] list.{{Sfn|Forbes|2009}}
 CNRL is one of the largest independent crude oil and natural gas producers in the world, with its head office in Calgary, and operations focused in the Western Canadian Sedimentary Basin,<ref group=notes>Of the provinces and territories within the WCSB, Alberta has most of the oil and gas reserves and almost all of the [[oil sands]].</ref>{{Sfn|CNRL|2013b|page=1}} the [[North Sea]] and offshore West Africa.
@@ Line 37: / Line 37: @@
 Canadian Natural's largest operation to date is the [[Horizon Oil Sands]] project which is located 75km north of Fort McMurray, Alberta.
-CNRL"s Primrose field produced to "99,000 barrels per day"{{Sfn|CNRL|2013b|page=1}} [[Synthetic Crude Oil]] (SCO) in 2012, c.100,000 to 107,000 barrels per day in 2013{{Sfn|Healing|2013}} and expects to "add value for decades."{{Sfn|CNRL|2013b|1}} Canadian Natural Resources Limited is an oil and gas exploration, development and production company centered in [[Calgary, Alberta]]. Operations are focused in [[Western Canadian Sedimentary basin]], the [[North Sea]] and offshore West Africa. It ranks number 251 on the [[Forbes Global 2000]] list for 2009.{{Sfn|Forbes|2009}} Canadian Natural uses the Kirby South Steam Assisted Gravity Drainage (SAGD) extraction{{Sfn|CNRL|2013b|1}} method including both the [[Steam injection (oil industry)#cyclic steam stimulation|cyclical]]<ref group=notes>The Primrose project uses "CSS or cyclic steam stimulation, also called "huff and puff," where steam is injected under pressure into the formation to melt the heavy, sticky oil, then shut off while the warmed oil is pumped out. Then the process is repeated."{{Sfn|Healing|2013}}</ref> and [[steam-assisted gravity drainage]] (SAGD) technologies the Primrose and Wolf Lake – Thermal in Situ located approximately 55&nbsp;km north of Bonnyville.{{Sfn|CNRL|2013}}
+CNRL"s Primrose field produced to "99,000 barrels per day"{{Sfn|CNRL|2013b|page=1}} [[Synthetic Crude Oil]] (SCO) in 2012, c.100,000 to 107,000 barrels per day in 2013{{Sfn|Healing|2013}} and expects to "add value for decades."{{Sfn|CNRL|2013b|1}} Canadian Natural Resources Limited is an oil and gas exploration, development and production company centered in [[Calgary, Alberta]]. Canadian Natural uses the Kirby South Steam Assisted Gravity Drainage (SAGD) extraction{{Sfn|CNRL|2013b|1}} method including both the [[Steam injection (oil industry)#cyclic steam stimulation|cyclical]]<ref group=notes>The Primrose project uses "CSS or cyclic steam stimulation, also called "huff and puff," where steam is injected under pressure into the formation to melt the heavy, sticky oil, then shut off while the warmed oil is pumped out. Then the process is repeated."{{Sfn|Healing|2013}}</ref> and [[steam-assisted gravity drainage]] (SAGD) technologies the Primrose and Wolf Lake – Thermal in Situ located approximately 55&nbsp;km north of Bonnyville.{{Sfn|CNRL|2013}}
 The Canadian Natural Resources Ltd.'s "operations use an "in situ" or underground extraction technology called [[Steam injection (oil industry)#cyclic steam stimulation|cyclic steam stimulation]], which involves injecting thousands of gallons of superhot, high-pressure steam into deep underground reservoirs. This heats and liquefies the hard bitumen and creates cracks through which the bitumen flows and is then pumped to the surface.{{Sfn|Pullman and Lukacs|2013}}{{Sfn|CAPP|2009}} This is not a spill but a pipeline blowout due to the cyclic steam stimulation extraction method.{{Sfn|Pratt|2013}} By June 29 the Canadian Natural Resources claimed the "oil and water leak" at Primrose "affected four hectares of slough."{{Sfn|Healing|2013}}
-On 24 June 2013 CNRL noticed a "mixture of heavy oil and water was discovered on Monday near Pad 22 on its Primrose thermal in situ oilsands project located on the Cold Lake Air Weapons Range."{{Sfn|Healing|2013}} On 27 June 2013, the [[Alberta Energy Regulator]]'s press release described it as a "release of bitumen emulsion to surface at a high pressure cyclic steam project" in an "off lease area that has impacted a nearby slough." The AER and the [[Alberta Environment and Sustainable Resource Development]] are monitoring the release and investigating the cause.{{Sfn|Alberta Energy Regulator|2013}} Clean-up began in May 2013.{{Sfn|Pratt|2013}} In July 2013 the [[Alberta Energy Regulator]] told the [[Canadian Natural Resources Ltd.]] to stop injecting steam into the ground near Cold Lake after a series of four spills.{{Sfn|Pratt|2013}}<ref name=HuffingtonPost7July2013>{{cite news|url=http://www.huffingtonpost.ca/2013/07/25/cnrl-oil-spill-protest-calgary_n_3655309.html|publisher=Huntington Post|title=CNRL Oil Spills Protested Outside Calgary-Based Corporation|author=Canadian Press CP|date=25 July 2013|quote= }}</ref> They have been "unable to stop an underground oil blowout that has killed numerous animals and contaminated a lake, forest, and muskeg at its operations in Cold Lake, Alta. The documents indicate that, since cleanup started in May, some 26,000 barrels of bitumen mixed with surface water have been removed, including more than 4,500 barrels of bitumen."{{Sfn|Pullman and Lukacs|2013}} The 2013 incident appeared to be similar to one that occurred at Primrose on 3 January 2009.{{Sfn|Healing|2013}}
+On 24 June 2013 CNRL noticed a "mixture of heavy oil and water was discovered on Monday near Pad 22 on its Primrose thermal in situ oilsands project located on the Cold Lake Air Weapons Range."{{Sfn|Healing|2013}} On 27 June 2013, the [[Alberta Energy Regulator]]'s press release described it as a "release of bitumen emulsion to surface at a high pressure cyclic steam project" in an "off lease area that has impacted a nearby slough." The AER and the [[Alberta Environment and Sustainable Resource Development]] are monitoring the release and investigating the cause.{{Sfn|Alberta Energy Regulator|2013}} Clean-up began in May 2013.{{Sfn|Pratt|2013}} In July 2013 the [[Alberta Energy Regulator]] told the [[Canadian Natural Resources Ltd.]] to stop injecting steam into the ground near Cold Lake after a series of four spills.{{Sfn|Pratt|2013}}{{Sfn|Huntington Post|2013}} They have been "unable to stop an underground oil blowout that has killed numerous animals and contaminated a lake, forest, and muskeg at its operations in Cold Lake, Alta. The documents indicate that, since cleanup started in May, some 26,000 barrels of bitumen mixed with surface water have been removed, including more than 4,500 barrels of bitumen."{{Sfn|Pullman and Lukacs|2013}} The 2013 incident appeared to be similar to one that occurred at Primrose on 3 January 2009.{{Sfn|Healing|2013}}
 ==History==
-In 1989, Canadian was an oil and natural gas company operating only in Alberta which employed 9 people, produced about {{convert|1400|oilbbl|m3}} of oil equivalent per day and had a market capitalization of about $1 million. Through growth and acquisitions, it has grown to approximately 5000 employees, production of over {{convert|565000|oilbbl|m3}} of oil equivalent per day and a [[market capitalization]] of approximately $40 billion.
+In 1989, CNRL was an oil and natural gas company operating only in Alberta which employed 9 people, produced about {{convert|1400|oilbbl|m3}} of oil equivalent per day and had a market capitalization of about $1 million. Through growth and acquisitions, it has grown to approximately 5000 employees, production of over {{convert|565000|oilbbl|m3}} of oil equivalent per day and a [[market capitalization]] of approximately $40 billion.
 ==Trading==
@@ Line 61: / Line 61: @@
 *{{cite report|url=http://www.aer.ca/documents/news-releases/AERNR2013-17.pdf|format=PDF|title=Alberta Energy Regulator responding to emulsion release in Cold Lake|work=Alberta Energy Regulator|accessdate=24 July 2013 |date=27 July 2013 |ref={{SfnRef|Alberta Energy Regulator|2013}}}}
 * {{cite report|title=Solvents in situ: the Hybrid Car of the Oil Sands|quote=Oil sands operators are exploring the use solvents with [[steam-assisted gravity drainage]] (SAGD) to help loosen and extract bitumen. Laricina Energy CEO [[Glen Schmidt]] likens the technology to a hybrid car|url=http://www.capp.ca/ENERGYSUPPLY/INNOVATIONSTORIES/AIR/Pages/Solvents-in-situ.aspx#CLqWUIphF8kx|institution=Canadian Association of Petroleum Producers |work=CAPP|year=2009 |ref= {{SfnRef|CAPP|2009}}}}
-*{{cite news|url=http://www.huffingtonpost.ca/2013/07/25/cnrl-oil-spill-protest-calgary_n_3655309.html|publisher=Huntington Post|title=CNRL Oil Spills Protested Outside Calgary-Based Corporation|work=Canadian Press CP|date=25 July 2013|quote= }}
+*{{cite news|url=http://www.huffingtonpost.ca/2013/07/25/cnrl-oil-spill-protest-calgary_n_3655309.html|work=Huntington Post|title=CNRL Oil Spills Protested Outside Calgary-Based Corporation| date=25 July 2013 |accessdate=23 Jluy 2014|ref={{SfnRef|Huntington Post|2013}} }}
 * {{cite report|url=http://www.cnrl.com/operations/world-class-assets.html|work=CNRL|title=World Class Assets|year=2013|ref={{SfnRef|CNRL|2013}} }}
 * {{cite web|year=2013a|url=http://www.cnrl.com/operations/north-america/north-american-crude-oil-and-ngls/thermal-insitu-oilsands/primrose-and-wolf-lake.html|title=Primrose and Wolf Lake – Thermal in Situ|institution=Canadian Natural Resources Limited|work=CNRL |accessdate=23 July 2014 |ref={{SfnRef|CNRL|2013a}}}}
@@ Line 68: / Line 68: @@
 |accessdate = 11 September 2012 |ref={{SfnRef|Forbes|2009}}}} See [[Forbes]]
 * {{cite news|title=Primrose oil leak spreads over four hectares:Canadian Natural says bitumen emulsion won’t affect production|first=Dan |last=Healing|date=2 July 2013|accessdate=24 July 2013| ref= {{SfnRef|Healing|2013}}}}
-* {{cite news|url=http://www.thestar.com/news/canada/2013/07/19/nobody_understands_ongoing_spills_at_alberta_oilsands_operation.html|title=Nobody understands' spills at Alberta oil sands operation: == Oil spills at an oil sands operation in Cold Lake, Alberta have been going on for weeks with no end in sight, according to a government scientist|publisher=The Toronto Star|first1=Emma |last1=Pullman|first2=Martin |last2=Lukacs|date=19 July 2013|location=Toronto, ON |ref={{SfnRef|Pullman|Lucas|2013}}}}
+* {{citation|url=http://languageinstinct.blogspot.ca/2011/04/big-five.html |last= McKenzie-Brown |first= Peter |title=The big five: Canada's top conventional heavy oil producers in profile|date=6 April 2011 |accessdate=23 July 2014 |location=Calgary, Alberta| ref={{SfnRef|McKenzie-Brown|2011}}}}
+* {{cite news|url=http://www.thestar.com/news/canada/2013/07/19/nobody_understands_ongoing_spills_at_alberta_oilsands_operation.html|title=Nobody understands' spills at Alberta oil sands operation: Oil spills at an oil sands operation in Cold Lake, Alberta have been going on for weeks with no end in sight, according to a government scientist|publisher=The Toronto Star|first1=Emma |last1=Pullman|first2=Martin |last2=Lukacs|date=19 July 2013|location=Toronto, ON |ref={{SfnRef|Pullman|Lucas|2013}}}}
 *{{cite news|date=27 September 2013 |url=http://www2.canada.com/edmontonjournal/news/story.html?id=451c4d54-3652-434a-a099-64061e19bc06|newspaper=[[Edmonton Journal]]|location=Edmonton, Alberta|accessdate=22 July 2014 |title=First Nations angry over leak proposal: Bands were not consulted about CNRL plan to drain small lake |first=Sheila |last=Pratt |ref={{SfnRef|Pratt|2013}}}}