Canadian Natural Resources Limited (CNQ) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning. We would like to welcome everyone to Canadian Naturals 2026 Second Quarter Earnings Conference Call and Webcast. After the presentation, we will conduct a question and answer session. Instructions will be given at that time. Please note that this call is being recorded today, August 6, 2026, at 9 a.m. Mountain Time. I would now like to turn the meeting over to your host for today's call, Lance Casson, Manager of Investor Relations. Good morning everyone, and thank you for joining Canadian Natural's 2026 Second Quarter Results Conference Call. Before we begin, I'd like to remind you of our forward-looking statements, and it should be noted that in our reporting disclosures, everything is in Canadian dollars unless otherwise stated, and we report reserves and production before royalties. Also, I would suggest you review the advisory section in our financial statements that include comments on non-GAAP disclosures. Speaking on today's call will be Scott Stauth, our President, and Victor Darel, our Chief Financial Officer. As usual, also in the room with us this morning is Robin Zabek, CEO of A&P, Jay Froc, CEO of Oil and Sand, and Ron Lang, Chief Commercial Officer. Scott will begin by going through our numerous operational records and leading operating costs as our teams continue to execute in the quarter. Victor will then go through our strong financial results, significant returns to shareholders, and material net debt reductions. To close, Scott will summarize prior to opening up the line for questions. With that, over to you, Scott. Thank you. Good morning, everyone. Q2 2026 was a very strong quarter, reflecting our continued focus on operational excellence, capital efficiency, and continuous improvement, which drove eight new operational and financia...