Canadian Natural Resources
|Traded as||TSX: CNQ|
S&P/TSX 60 component
|Tim S. Mckay, President|
N. Murray Edwards, Chairman, Gary Filmon, director
Gordon D. Giffin, director
Frank McKenna, director
James S. Palmer, director
Natural gas liquids
|1,079 thousand barrels of oil equivalent (6,600,000 GJ) per day (2018)|
|Revenue||$21.027 billion (2018)|
|$2.591 billion (2018)|
|Total assets||$71.559 billion (2018)|
|Total equity||$31.974 billion (2018)|
Number of employees
|Footnotes / references|
Canadian Natural Resources Limited, or CNRL or Canadian Natural, is a company engaged in hydrocarbon exploration primarily in Western Canada, the United Kingdom sector of the North Sea, and offshore Côté d'Ivoire and Gabon. The company is headquartered in Calgary, Alberta.
The company has the largest undeveloped base in the Western Canadian Sedimentary Basin. It is the largest independent producer of natural gas in Western Canada and the largest producer of heavy crude oil in Canada.
In 2018, the company averaged production of 1,079 thousand barrels of oil equivalent (6,600,000 GJ) per day, of which 76% was petroleum and natural gas liquids and 24% was natural gas. In 2018, production came as follows:
- Synthetic crude from oil sands mining in Northern Alberta - 39% of production.
- Natural gas, primarily produced in Alberta, British Columbia, and Saskatchewan - 24% of production
- Light and medium crude oil and natural gas liquids - 13% of production
- Bitumen - 10% of production
- Primary heavy crude oil - 8% of production
- Pelican Lake heavy crude oil - 6% of production
The company's largest operation is the Horizon Oil Sands project which is 75 kilometres (47 mi) north of Fort McMurray, Alberta. It includes a surface oil sands mining and bitumen extraction plant and bitumen upgrading with associated infrastructure. The company sanctioned the Horizon Oil Sands Project in February 2005 and it began production in early 2009.
The company was founded in 1973.
In 1998, the company sold land to Remington Energy for C$127.5 million.
In 2017, the company acquired the Canadian oil sands asses of Royal Dutch Shell, including a 70% working interest in the Athabasca Oil Sands Project, for $5.3 billion in cash plus 97,560,975 shares. The shares were sold in 2018.
In September 2018, the company acquired Laricina Energy for $46 million.
- "Canadian Natural Resources Limited 2018 Form 20-F Annual Report". U.S. Securities and Exchange Commission.
- "Forbes: Canadian Natural Resources". Forbes.
- "COMPANY NEWS; REMINGTON ENERGY OF CANADA IN $84.8 MILLION LAND DEAL". The New York Times. Bloomberg News. 29 July 1998.
- Pritchard, Timothy (6 August 1999). "WORLD BUSINESS BRIEFING: AMERICAS; CANADIANS BUY BP AMOCO ASSETS". The New York Times.
- JANG, BRENT (16 June 2000). "White knight rescues Ranger Oil". The Globe and Mail.
- Pritchard, Timothy (16 June 2000). "WORLD BUSINESS BRIEFING: AMERICAS; RANGER ACCEPTS SWEETER BID". The New York Times.
- Carlisle, Tamsin (16 June 2000). "Canadian Natural Bids for Ranger Oil In Move to Thwart Petrobank Takeover". The Wall Street Journal.
- "Canadian Natural to buy Rio Alto for $2.4 billion". CBC News. 13 May 2002.
- Simon, Bernard (14 May 2002). "Latest Energy Deal in Canada Is a Plan to Acquire Rio Alto". The New York Times.
- "Canadian Natural Resources buys Petrovera Resources". Oil & Gas Journal. 19 February 2004.
- Parksinson, David (14 September 2006). "Canadian Natural buys Anadarko Canada for $4.1-billion (U.S.)". The Globe and Mail.
- "Devon Energy Completes Sale of Canadian Conventional Assets" (Press release). Business Wire. 2 April 2014.
- "Canadian Natural Resources Limited Announces the Acquisition of Working Interest in the Athabasca Oil Sands Project and Other Oil Sands Assets" (Press release). Marketwired. 9 March 2017.
- Pulsinelli, Olivia (8 May 2018). "Shell selling entire Canadian Natural Resources stake for $3.3B". American City Business Journals.
- "CNRL to buy idle Joslyn oil sands project". Oil & Gas Journal. 31 August 2018.
- "CNRL completes Laricina Energy acquisition". Oil & Gas Journal. 17 September 2018.
- "Canadian Natural Resources Limited Completes the Acquisition of Substantially All of the Assets of Devon Canada Corporation" (Press release). Globe Newswire. 27 June 2019.
- "Canadian Natural Resources Pipeline Spills 70,000 Litres Of Oil, Water". HuffPost. The Canadian Press. 2 April 2014.
- "Canadian Natural Resources pipeline leaks near Slave Lake". CBC News. The Canadian Press. 3 April 2014.
- "Alberta pipeline spills 60,000 litres of crude oil into muskeg". Global News. 1 December 2014.
- Mehler Paperny, Anna; Young, Leslie (2 December 2014). "Alberta oil spill: Examining CNRL's safety record". Global News.
- Official website
- Business data for Canadian Natural Resources Limited: