Canadian Natural Resources Ltd. Company News
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Canada Gas Set to Strike Back Against US Shale as Glut Eases
Thursday, September 14, 2017 Output from some longtime producers is waning and pipeline maintenance is ending.
Canadian Natural Buys Cenovus' Pelican Lake for $787 Million
Tuesday, September 05, 2017 Canadian Natural Resources agreed to buy Cenovus' Pelican Lake heavy-oil project and other assets in northern Alberta.
Canadian Natural Resources Profit Tops Estimates; Cuts CAPEX
Thursday, August 03, 2017 Canadian Natural Resources posts a higher quarterly profit that topped estimates.
Canadian Natural Resources Says 2017 Production To Rise 6%
Thursday, December 15, 2016 Canadian Natural Resources says it expected 2017 production to rise by 6%.
Canadian Natural Resources Posts Bigger-Than-Expected Loss
Thursday, November 03, 2016 Canadian Natural Resources Ltd, Canada's largest independent petroleum producer, reports a bigger-than-expected quarterly loss.
Canadian Natural Resources Reports Smaller Quarterly Loss
Thursday, August 04, 2016 Oil and natural gas producer Canadian Natural Resources Ltd reports a smaller quarterly loss as lower expenses help offset a slump in crude prices.
Fire Forces Canadian Natural Resources to Shut Down Ninian Production
Thursday, June 23, 2016 Canadian Natural Resources is forced to shut down production at the North Sea Ninian platform after a fire breaks out, according to reports.
Bulk of Canada's Oil Sands Plants Seen Up in Days to Weeks
Wednesday, May 11, 2016 Canadian oil sands facilities representing more than 90 percent of production taken offline during a wildfire in northern Alberta have emerged unscathed and are expected to restart within days to a couple of weeks.
Oil Megaprojects Dreamed Up A Decade Ago Thrive Amid Price Slump
Friday, April 22, 2016 Oil production in some of the riskiest, highest-cost regions of North America is still thriving, even as the worst slump in a generation takes a bite out of US shale.
Canadian Natural Resources Targets More Spending Cuts
Thursday, March 03, 2016 Canadian Natural Resources slashes its capital expenditure plan for 2016 and targets further cuts in 2017 and 2018 in response to the slump in oil prices which has hit its profits.
CNRL Cuts Calgary, Aberdeen Staff Salaries; Cites Low Oil Prices
Thursday, September 10, 2015 Canadian Natural Resources Ltd, the country's largest independent oil producer, is cutting salaries by up to 10 percent for all its staff in Calgary, Alberta, and Aberdeen, Scotland, the company says.
Canada Oil Sands Fork Over Billions for 500,000 Unneeded Barrels
Friday, September 04, 2015 The last place oil producers want to be when prices plummet to profit-demolishing lows is midstream on a billion-dollar project in one of the costliest parts of the planet to extract crude.
Report: Most Canada Oil Sands Crude Being Produced at a Loss
Friday, August 21, 2015 More than three-quarters of Canada's daily output of 2.2 million barrels of crude from oil sands is being produced at a loss at current prices, research from analysts at TD Securities shows, although producers are unlikely to halt operations.
CNRL Says Fire Affected Output in Alberta Oil Sands to Return this Week
Monday, June 08, 2015 Canadian Natural Resources Ltd expects two oil sands projects in northern Alberta to return to normal rates of production this week.
Canadian Natural Says Will Work With New Alberta Government
Thursday, May 07, 2015 Canadian Natural Resources says it swung to a loss in the first quarter due to sharply lower oil prices even as production rose by nearly a third.
Canadian Natural Keeps 2015 Spin-Off Plan As 4Q Profit Jumps
Thursday, March 05, 2015 Canadian Natural Resources expects to spin off its Western Canada royalty lands this year as it reported unexpectedly strong 4Q results and boosted its dividend.
Canadian Natural Resources Cuts 2015 Capex Forecast By 28%
Monday, January 12, 2015 Canadian Natural Resources, the country's largest independent oil producer, cut its 2015 capital expenditure and production forecast as global oil prices continue to slump.
Canadian Natural Resources Lowers 2014 Oil Production Guidance
Thursday, August 07, 2014 Canadian Natural Resources lowers its 2014 oil production guidance as a result of issues at its Kirby South and Primrose oil sands projects in northern Alberta.
Devon Sells Some Gas Assets As Oil Focus Pays Off
Wednesday, February 19, 2014 Devon says it would sell some liquids-rich natural gas assets in Canada for about $2.8B and posted a better-than-expected profit as it ramps up production of more lucrative oil.
CNR Secures Rig for Development Drilling Offshore Ivory Coast
Tuesday, February 11, 2014 CNR International secures Cajun Express rig for a six-well program on the Baobab field, off the Ivory Coast.
Canadian Natural Resources Farms out Block 11B/12B Offshore South Africa
Monday, September 30, 2013 CNR and Total form a partnership to explore an area offshore South Africa.
Canada Oil Sands Producers to Share Environmental Technology
Thursday, March 01, 2012 A dozen of the largest Canadian oil sands producers agree to share funding for environmental research, saying pooling their resources will speed the creation of new technologies to reduce the negative effects of oil-sands development.
Canadian Natural Resources Resumes Ops in Alberta
Tuesday, August 23, 2011 Canadian Natural Resources announced that Synthetic Crude Oil sales have recommenced from its Horizon Oil Sands operation in Northern Alberta.
Canadian Natural Resources Reports 2010 Operational, Financial Results
Thursday, March 03, 2011 "2010 was a strong year as we capitalized on the balance in our asset base through the effective allocation of capital to projects that provide the highest returns," said Steve Laut.
Canadian Natural Resources Buoys 2011 Production with $2.4B Investment
Friday, December 03, 2010 "We will be investing over $2.4B (approx. 45% of 2011 capex) on long-term growth initiatives that provide no additional volumes in 2011 but will provide sustainable, long-term returns in 2012 and beyond," said Allan Markin.
CNR Targets 110,000 bpd at Horizon Oil Sands
Wednesday, March 31, 2010 Canadian Natural Resources continues to target reliable production of 110,000 barrels per day of Synthetic Crude Oil at the Horizon Oil Sands by the middle of 2010.
Oil Sands Producers Eye Gulf Coast Market
Tuesday, March 23, 2010 Canadian producers of crude from oil sands are making a big push into the U.S. Gulf Coast market, where refiners are paying the highest prices in decades for low quality, high-sulfur oil.
Canadian Natural Resources Bumps Up Quarterly Dividend
Thursday, March 04, 2010 Canadian Natural Resources' Board of Directors has declared a quarterly cash dividend on its common shares.
CNR Posts Slight Decrease in '09 Cash Flow
Thursday, March 04, 2010 CNR's cash flow from operations decreased 13% to $6.1 billion in 2009 from $7.0 billion in 2008, and net earnings decreased 68% in 2009 to $1.6 billion from $5.0 billion in 2008.
Bahrain to Award Deep Gas Deal in First Half 2010
Monday, January 25, 2010 Bahrain's oil and gas minister Abdul Hussain Mirza confirmed to local media that NOGA will award a deep gas exploration deal during the first half of 2010.
Oxy, CNR Bid for Onshore Bahrain Gas E&P Contract
Wednesday, July 08, 2009 Bapco is evaluating two bids on behalf of the National Oil and Gas Authority received last month for a deep gas exploration and production sharing contract under tender for onshore Bahrain.
Occidental, CNR Submit Bids for Bahrain's Deep Gas Exploration Project
Thursday, June 25, 2009 A top governmental official in Bahrain said Thursday that Occidental Petroleum and Canadian Natural Resources have submitted bid to participate in the country's deep gas exploration project.
Knock Allen FPSO Starts Producing at Olowi Field Offshore Gabon
Tuesday, May 12, 2009 FPSO Knock Allan has completed a successful production start-up in Gabon and commenced a 10 year contract with Canadian Natural Resources.
Canadian Natural Resources Comments on Horizon Oil Sands Investigation
Wednesday, April 22, 2009 Alberta Employment and Immigration released on April 21, 2009 the results of its provincial investigation regarding the April 24, 2007 incident that occurred at Canadian Natural Resources Limited's Horizon Oil Sands site.
Alberta Hands Oil, Gas Cos A Royalty Break
Wednesday, March 11, 2009 As Alberta's once red-hot energy sector fizzles with the global economic downturn, the province is handing its oil and gas producers a break.
CNR Starts Up Oil Production at Horizon Oil Sands
Thursday, March 05, 2009 In its fourth quarter and 2008 annual results, Canadian Natural Resources reported that it achieved first synthetic crude oil production at the Horizon Oil Sands Project.
Canadian Oil, Gas Cos Cut Back 2009 Spending But Not Output
Friday, December 12, 2008 Despite sharp cuts to their spending plans for 2009, Canada's oil and gas companies are aiming to maintain or even increase current production levels.
Canada's Oil Firms Pull Back
Wednesday, November 12, 2008 Canada's major energy companies are tightening their belts after a stellar earnings season, as the stresses in financial and commodity markets presage tougher times ahead.
Canadian Natural Resources Pushes Forward with Horizon Oil Sands Project
Thursday, November 06, 2008 Canadian Natural is continuing with the staged start up of the Horizon Project, but the delays experienced and extended commissioning schedule has lead to an increase of $441 million to the Project forecast construction costs.
Canadian Natural Resources Underscores 2009 Capital Budget
Thursday, November 06, 2008 Canadian Natural Resources will implement its capital budget for 2009 with the flexibility to address the challenges of a lower and more volatile commodity price environment.
Suncor Slows Oil-Sands Project, Others May Follow
Friday, October 24, 2008 With other delays expected to follow Suncor's announcement, oil-sands output forecasts could be lowered once more, further curtailing the amount of crude intended for the U.S. and undermining Canada's appeal as an alternative to Middle East Crude.
Canadian Natural Resources Declares Quarterly Cash Dividend
Thursday, August 07, 2008 Canadian Natural Resources declared a quarterly cash dividend on its common shares of C$0.10 per common share.
Canadian Natural Achieves Significant Milestone with Horizon Project
Thursday, August 07, 2008 Canadian Natural has achieved a significant milestone with the final construction, commissioning and staged start-up of the Horizon Project, which is the largest single capital project in Canadian Natural's history.
Canadian Natural Reports Q2 Cash Flow of $1.86B
Thursday, August 07, 2008 Canadian Natural saw continuing strength in both crude oil and natural gas pricing. Narrow heavy crude oil differentials combined with higher realized pricing for the quarter resulted in Q2/08 cash flow of nearly $1.86 billion.
Canadian Natural Resources Announces 2008 Q1 Results
Friday, May 09, 2008 Canadian Natural's Chairman, Allan Markin stated, "It has been a good start to the year for Canadian Natural. We completed our winter drilling program in advance of spring break-up, meeting our targets."
CNR: Horizon Oil Sands Project Offers 'Tremendous Training Benefits'
Wednesday, April 30, 2008 Canadian Natural Resources reached an overall 94% completion at the end of the first quarter of 2008, with craftspeople actively performing hydrotests, airblows, rotation checks and various pre-commissioning activities.
Alberta Govt Gives Royalty Break To Deep Oil, Gas Dvlpmnt
Friday, April 11, 2008 The programs will provide royalty breaks to the high-cost, high productivity wells that were hit hard by the royalty rate increases announced in October.
Canadian Natural Resources Declares Dividend
Thursday, February 28, 2008 Canadian Natural Resources Limited reported that its Board of Directors has declared a quarterly cash dividend on its common shares of C$0.10 (ten cents) per common share.
CNR Achieves 90% Completion of Horizon Project in Canada
Tuesday, February 12, 2008 Commenting on fourth quarter progress on the Horizon Oil Sands Project, Real Doucet, Sr. Vice President, Oil Sands stated, "We achieved 90% completion of the Horizon Project by year-end 2007, a major accomplishment."
Let's Make a Deal: Canadian Natural Resources to Unload $1.2 Billion Debt
Thursday, January 10, 2008 The deal would include five-year and ten-year notes issued along with a 30-year bond issue.