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Canadian Natural Resources


Buy Canadian Natural Resources stocks



? Canadian Natural Resources Limited buys, explores for, develops and produces crude oil, natural gas and related products. It operates in Western Canada, the UK’s sector of the North Sea as well as offshore Gabon and Côté d’Ivoire.

Canadian Natural Resources Limited has the largest undeveloped base within Canada’s Western Sedimentary Basin. It is also Western Canada’s largest independent producer of natural gas as well as Canada’s largest producer of heavy crude oil. As of the end of December 2018, the company’s proved reserves are 9.679 billion barrels of oil equivalent (5.921×1010 GJ). Sixty three percent of this is synthetic crude. Canadian Natural Resources Limited owns two operated pipeline systems, a 50% interest in North West Redwater Partnership as well as an electricity cogeneration facility.

Canadian Natural’s average production per day in 2018 is 1 079 thousand barrels of oil equivalent (6,600,000 GJ). Petroleum and natural gas liquids make up 76% and natural gas 24%. The Horizon Oil Sands project, north of Fort McMurray, Alberta, is the company’s largest operation. Operations include a bitumen extraction plant and bitumen upgrading as well as oil sands mining with related infrastructure. The Horizon Oil Sands Project started operating in 2009. Canadian Natural Resources Limited is ranked #342 on the Forbes Global 2000.

The company’s history dates back to 1973 when it was founded. It is headquartered in Calgary, Canada and today it has more than 9 700 employees. Its subsidiaries include Laricina Energy, Barrick Energy Inc., Marathon Oil Canada Corporation, Blue Range Resource Corporation, North West Redwater Partnership Inc. and Echo Pipelines Limited.


  • In 1973 Canadian Natural Resources Limited is founded. In 1998 it sells land to Remington Energy for CUS Dollar 127.5 million. A year later Canadian Natural together with Penn West Petroleum (now Obsidian Energy) buys BP Amoco’s Canadian assets.
  • Canadian Natural buys Ranger Oil for CUS Dollar 1.08 billion in 2000 and Rio Alto for US Dollar 2.4 billion two years later.
  • In 2004 it buys Petrovera Resources and in 2006 it buys Anadarko Petroleum’s Canadian resources for USUS Dollar 4.1 billion.
  • Devon Energy’s conventional assets in Canada are bought for CUS Dollar 3.125 billion in 2014.
  • Canadian Natural Resources Limited buys the Canadian oil sands assets of Royal Dutch Shell in 2017. This transaction includes a working interest of 70% in the Athabasca Oil Sands Project. Payment is US Dollar 5.3 billion in cash and 97,560,975 shares (which were sold in 2018).
  • It buys the idled Joslyn oil sands project from Total S.A. and its partners in 2018. In the same year the company buys Laricina Energy for US Dollar 46 million.
  • The remaining Canadian assets of Devon Energy are bought in 2019.


  • Canadian Natural Resources is committed to working with local communities and stakeholders to build positive, long-lasting relationships which are based on mutual respect. The company recognizes the importance of the creation of shared values as part of its commitment to operating responsibly.
  • Environmental stewardship is incorporated throughout the company’s projects in order to mitigate its impact and continue maintaining efficient operation. Participative culture and strong leadership are of utmost importance to improve processes and reduce the company’s environmental footprint.


  • Canadian Natural Resources Limited trades on the New York Stock Exchange under the NYSE stock symbol “CNQ”.
  • The company’s revenue for 2018 is 21,03 billion USD. In its second quarter 2019 the company reports net earnings of US Dollar 2,831, an increase of US Dollar 1,849 million compared to the same period in 2018.

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Louis Schoeman

Louis Schoeman

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