Canadian Natural Resources
Get Canadian Natural Resources essential facts below. View Videos or join the Canadian Natural Resources discussion. Add Canadian Natural Resources to your topic list for future reference or share this resource on social media.
Canadian Natural Resources

Canadian Natural Resources Limited
Public company
Traded asTSXCNQ
S&P/TSX 60 component
ISINCA1363851017 Edit this on Wikidata
IndustryPetroleum industry
Founded1973 Edit this on Wikidata
Key people
Tim S. Mckay, President
N. Murray Edwards, Chairman, Gary Filmon, director
Gordon D. Giffin, director
Frank McKenna, director
James S. Palmer, director
Natural gas
Natural gas liquids
Production output
1,079 thousand barrels of oil equivalent (6,600,000 GJ) per day (2018)
RevenueIncrease $21.027 billion (2018)
Increase $2.591 billion (2018)
Decrease $71.559 billion (2018)
Increase $31.974 billion (2018)
Number of employees
9,709 (2018)
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.[1]

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.[1]

The company is ranked 342nd on the Forbes Global 2000.[2]

Current operations

As of December 31, 2018, the company had proved reserves of 9.679 billion barrels of oil equivalent (5.921×1010 GJ), of which 63% were synthetic crude.[1]

The company also owns two operated pipeline systems, an electricity cogeneration facility, and a 50% interest in the North West Redwater Partnership.[1]

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:[1]

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.[2]

In 1998, the company sold land to Remington Energy for C$127.5 million.[3]

In 1999, the company and Penn West Petroleum (now Obsidian Energy) acquired the Canadian assets of BP Amoco.[4]

In 2000, the company acquired Ranger Oil for C$1.08 billion.[5][6][7]

In 2002, the company acquired Rio Alto for $2.4 billion.[8][9]

In February 2004, the company acquired Petrovera Resources, a joint venture between Encana and ConocoPhillips.[10]

In September 2006, the company acquired the Canadian operations of Anadarko Petroleum for US$4.1 billion.[11]

In April 2014, the company acquired the conventional assets in Canada of Devon Energy for C$3.125 billion.[12]

In 2017, the company acquired the Canadian oil sands assets 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.[13][14]

In August 2018, the company acquired the idled Joslyn oil sands project from Total S.A. and its partners.[15]

In September 2018, the company acquired Laricina Energy for $46 million.[16]

In June 2019, the company acquired the remaining assets in Canada of Devon Energy.[17]


In June 2013, the Alberta Energy Regulator investigated reports of leaks in the company's Primrose East oil sands project. The regulator concluded that nearly a million litres of bitumen mixed with water had seeped into the ground around the site.[18][19]

In April 2014, a pipeline owned by the company spilled 70,000 liters of oil and processed water northwest of Slave Lake, Alberta.[20][21]

In November 2014, a pipeline owned by the company spilled almost 60,000 liters of crude oil into a muskeg region 27 kilometers from Red Earth Creek, Alberta.[22][23]

See also


  1. ^ a b c d e f "Canadian Natural Resources Limited 2018 Form 20-F Annual Report". U.S. Securities and Exchange Commission.
  2. ^ a b "Forbes: Canadian Natural Resources". Forbes.
  3. ^ "COMPANY NEWS; REMINGTON ENERGY OF CANADA IN $84.8 MILLION LAND DEAL". The New York Times. Bloomberg News. 29 July 1998.
  4. ^ Pritchard, Timothy (6 August 1999). "WORLD BUSINESS BRIEFING: AMERICAS; CANADIANS BUY BP AMOCO ASSETS". The New York Times.
  5. ^ JANG, BRENT (16 June 2000). "White knight rescues Ranger Oil". The Globe and Mail.
  6. ^ Pritchard, Timothy (16 June 2000). "WORLD BUSINESS BRIEFING: AMERICAS; RANGER ACCEPTS SWEETER BID". The New York Times.
  7. ^ Carlisle, Tamsin (16 June 2000). "Canadian Natural Bids for Ranger Oil In Move to Thwart Petrobank Takeover". The Wall Street Journal.
  8. ^ "Canadian Natural to buy Rio Alto for $2.4 billion". CBC News. 13 May 2002.
  9. ^ Simon, Bernard (14 May 2002). "Latest Energy Deal in Canada Is a Plan to Acquire Rio Alto". The New York Times.
  10. ^ "Canadian Natural Resources buys Petrovera Resources". Oil & Gas Journal. 19 February 2004.
  11. ^ Parksinson, David (14 September 2006). "Canadian Natural buys Anadarko Canada for $4.1-billion (U.S.)". The Globe and Mail.
  12. ^ "Devon Energy Completes Sale of Canadian Conventional Assets" (Press release). Business Wire. 2 April 2014.
  13. ^ "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.
  14. ^ Pulsinelli, Olivia (8 May 2018). "Shell selling entire Canadian Natural Resources stake for $3.3B". American City Business Journals.
  15. ^ "CNRL to buy idle Joslyn oil sands project". Oil & Gas Journal. 31 August 2018.
  16. ^ "CNRL completes Laricina Energy acquisition". Oil & Gas Journal. 17 September 2018.
  17. ^ "Canadian Natural Resources Limited Completes the Acquisition of Substantially All of the Assets of Devon Canada Corporation" (Press release). Globe Newswire. 27 June 2019.
  18. ^ "Northern Alberta oilfield's continuing bitumen seepage 'disturbing,' environmentalist warns". CBC News. The Canadian Press. Retrieved 2019.
  19. ^ Krugel, Lauren (13 August 2013). "Groups demand probe amid CNRL bitumen leak |". Global News. The Canadian Press. Retrieved 2019.
  20. ^ "Canadian Natural Resources Pipeline Spills 70,000 Litres Of Oil, Water". HuffPost. The Canadian Press. 2 April 2014.
  21. ^ "Canadian Natural Resources pipeline leaks near Slave Lake". CBC News. The Canadian Press. 3 April 2014.
  22. ^ "Alberta pipeline spills 60,000 litres of crude oil into muskeg". Global News. 1 December 2014.
  23. ^ Mehler Paperny, Anna; Young, Leslie (2 December 2014). "Alberta oil spill: Examining CNRL's safety record". Global News.

External links

  This article uses material from the Wikipedia page available here. It is released under the Creative Commons Attribution-Share-Alike License 3.0.



Music Scenes