Canadian Natural Resources Limited (CNQ) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning. We would like to welcome everyone to Canadian Naturals 2025 Third 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, November 6, 2025, at 9 a.m. Mountain Time. I would now like to turn the meeting over to your host for today's call, Lance Kasson, Manager of Investor Relations. Please go ahead. Lance Kasson Thank you, Operator. Good morning. Thanks for joining Canadian Natural's 2025 Third Quarter Earnings Conference Call. As always, 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 our reserves and production before royalties. Also, I would suggest review the advisory section in our financial statements that includes comments on non-GAAP disclosure. Speaking on today's call will be Scott Stealth, our President, and Victor Durrell, our Chief Financial Officer. Additionally in the room with us this morning are Robin Zabeck, CEO of E&P, and Jay Frock, CEO of OilSams. Scott will begin by running through our strong operational performance that includes numerous production records in the quarter and our leading operating costs. Victor will then summarize our strong financial results and our significant return to shareholders so far this year. To close, Scott will summarize prior to opening the line for questions. With that, over to you, Scott. Thank you, Lance, and good morning, everyone. Canadian Natural retrieved record quarterly corporate production during the quarter, both in liquids and natural gas production. This is the second time this year where we have achi...