Business
Canadian Natural Resources Limited Announces 2025 Fourth Quarter and Year End Results
Calgary, Alberta--(Newsfile Corp. - March 5, 2026) - Canadian Natural's (TSX: CNQ) (NYSE: CNQ) Pr...
About this update from Canadian Natural Resources Limited
[{"type":"text","content":"Canadian Natural Resources Limited Announces 2025 Fourth Quarter and Year End ResultsCalgary, Alberta--(Newsfile Corp. - March 5, 2026) - Canadian Natural's (TSX: CNQ) (NYSE: CNQ) President, Scott Stauth, commented on the Company's fourth quarter and year end 2025 results, \"The year 2025 was the best operational year in the Company's long history of maximizing value for our shareholders. We set several production records, lowered our operating costs and capital expenditures came in under our forecast. We grew organically and completed several accretive acquisitions, including the Palliser Block assets in southern Alberta and liquids-rich Montney assets in the Grande Prairie area, along with increasing our ownership in the Albian mines to 100% through an asset swap. As a result, we achieved record annual production of 1,571 MBOE/d in 2025, resulting in year-over-year growth of 15% or approximately 207 MBOE/d from 2024 levels. We also achieved record annual liquids production of 1,146 Mbbl/d, of which 65% was comprised of Synthetic Crude Oil (\"SCO\"), light crude oil and NGLs, which are not subject to widening heavy crude oil differentials.Strong execution across our large, diverse asset base continues to provide significant opportunities to create shareholder value in 2026 and beyond. This is evident by our increased production, strong free cash flow and growth in reserves achieved in 2025, through organic growth and accretive acquisitions. These successes provided the Board of Directors with the confidence to approve a dividend increase and an enhancement to our direct shareholder returns, by adjusting our net debt targets as a part of our free cash flow allocation policy. Additionally, we are decreasing our 2026 operating capital forecast by approximately $310 million, following the completion of a strategic acquisition early in 2026, and increasing our 2026 production guidance range to 1,615 MBOE/d and 1,665 MBOE/d from the previous guidance range of 1,590 MBOE/d and 1,650 MBOE/d.Canadian Natural's reserves are significant when compared to other major oil companies, which support long-term organic growth opportunities. Year end 2025 total proved reserves of 15.91 billion BOE and total proved plus probable reserves of 20.75 billion BOE represent increases of approximately 4% and 3%, respectively, from year end 2024 levels. Wi...