Canadian Natural Resources Limited Announces 2026 Third Quarter Results

(TSX:CNQ) (NYSE:CNQ) Canadian Natural Resources Limited reported third quarter 2026 results, highlighting production of approximately 1,217,000 barrels per day (bbl/d) of liquids and 2.6 billion cubic feet per day (Bcf/d) of natural gas, totaling approximately 1,652,000 barrels of oil equivalent per day (BOE/d), inclusive of a planned turnaround at Horizon. Record quarterly thermal in situ production reached approximately 300,000 bbl/d, up 25,000 bbl/d from Q3/25, driven by new pads at Pike and Primrose. North American Conventional E&P assets, excluding thermal in situ, achieved record quarterly liquids production of approximately 358,000 bbl/d, an increase of 49,000 bbl/d from Q3/25, attributed to acquisitions and strong well performance. The planned turnaround at Horizon was completed in 28 days, seven days ahead of schedule, resulting in approximately 23,000 bbl/d of additional high margin Synthetic Crude Oil (SCO) production in Q4/26. Oil Sands Mining and Upgrading production rates are currently averaging approximately 640,000 bbl/d. The company is targeting to extend Horizon turnaround intervals to once every three years, increasing average production capacity by 5,000 bbl/d of SCO, bringing total Oil Sands Mining and Upgrading production capacity to approximately 597,000 bbl/d. The Naphtha Recovery Unit Tailings Treatment (NRUTT) project at Horizon is on track and on budget, with targeted incremental annual production of approximately 6,300 bbl/d of SCO after mechanical completion in Q3/27. The company achieved its net debt target of $13 billion in Q3/26, and now targets to allocate 100% of free cash flow to shareholder returns through share repurchases. The pace of monthly share repurchases is targeted at $800 million per month in November and December 2026. In the first nine months of 2026, approximately $10.6 billion was returned to shareholders, including $6.8 billion directly through dividends and share buybacks and $3.8 billion indirectly through net debt reduction. Adjusted funds flow for the quarter was approximately $5.5 billion or $2.68 per share, and adjusted net earnings were $3.4 billion or $1.67 per share. Quarterly net earnings were approximately $3.0 billion. Sulphur pricing contributed pre-tax net revenue of approximately $0.5 billion in Q3/26 and $0.9 billion year to date. The Board approved a quarterly cash dividend of $0.625 per common share, payable January 5, 2027, representing an annualized dividend of $2.50 per share. Year to date, up to November 4, 2026, the company returned approximately $8.9 billion directly to shareholders through $5.1 billion in dividends and $3.8 billion in share repurchases, cancelling approximately 58.2 million shares at a weighted average price of $65.85 per share. Share repurchases in October 2026 totaled $728 million. Oil Sands Mining and Upgrading operating costs averaged $25.80/bbl (US$18.44/bbl) of SCO in Q3/26. Thermal in situ operating costs averaged $10.19/bbl (US$7.28/bbl) in Q3/26. Jackfish achieved record quarterly production of 143,039 bbl/d in Q3/26, exceeding facility nameplate capacity by approximately 23,000 bbl/d. The two new SAGD pads at Pike 1 are producing approximately 46,500 bbl/d at a Steam to Oil Ratio (SOR) of 1.7x. At Primrose, two CSS pads are targeted to come on production in Q1/27 and Q2/27, and at Kirby, a SAGD pad is targeted for Q3/27. The company is piloting solvent enhanced oil recovery technology on certain thermal in situ assets. The federal government designated the Pacific Link pipeline as a project of national interest and announced the Productivity Mega Deduction (PMD), expected to enhance competitiveness and investment in Canada. The trilateral Memorandum of Understanding (MOU) between the Oil Sands Alliance, the Government of Alberta, and the Federal government is expected to support future economic growth and provide a pathway to reduce GHG emissions. The next step is finalizing definitive agreements of the MOU.

Canadian Natural Resources Limited Announces Quarterly Dividend

(TSX:CNQ) (NYSE:CNQ) Canadian Natural Resources Limited announced that its Board of Directors has declared a quarterly cash dividend on its common shares of C$0.625 per share. The dividend will be payable on January 5, 2027 to shareholders of record at the close of business on December 15, 2026. The company previously announced a dividend increase in March of this year. The year 2026 marks the 26th consecutive year of dividend increases for Canadian Natural Resources Limited. Over this period, the company has achieved a compound annual growth rate (CAGR) of 20% in its dividend. The Board of Directors stated that this record demonstrates their confidence in the sustainability of the company's business model, its strong balance sheet, and the strength of its diverse, long life low decline reserves and asset base. Canadian Natural Resources Limited is described as a senior crude oil and natural gas production company. The company has continuing operations in its core areas located in Western Canada, the U.K. portion of the North Sea, and Offshore Africa. Scott G. Stauth is named as President. Victor C. Darel is named as Chief Financial Officer. Lance J. Casson is named as Manager, Investor Relations. The trading symbol for the company is CNQ on both the Toronto Stock Exchange and the New York Stock Exchange.

Canadian Natural Resources Limited Announces 2026 Second Quarter Results

(TSX: CNQ) (NYSE: CNQ) Canadian Natural reported record second quarter 2026 results, including adjusted net earnings of $4.6 billion, or $2.20 per share, and adjusted funds flow of $6.9 billion, or $3.30 per share. The company achieved its highest ever quarterly oil sands mining production, averaging approximately 625,000 bbl/d in Q2/26, with upgrader utilization of 106%, and total corporate production reached a record 1,677,000 BOE/d, up 256,000 BOE/d or 18% from Q2/25. Returns to shareholders totaled approximately $4.0 billion in Q2/26, including $1.3 billion in dividends and $1.1 billion in share repurchases, with indirect returns of $1.6 billion through net debt reduction. In Q2/26, Canadian Natural acquired additional assets in the Peace River area of Alberta for approximately $761 million, net of closing adjustments, and increased its 2026 annual production guidance range to 1,637 MBOE/d and 1,682 MBOE/d. The company maintained its 2026 operating capital at approximately $6.0 billion, before net acquisition costs, and declared a quarterly dividend of $0.625 per common share, or $2.50 annualized. The company projects that achieving its next targeted net debt level of $13 billion will position it to increase shareholder returns to 100% of free cash flow. The trilateral Memorandum of Understanding between the Oil Sands Alliance, the Government of Alberta, and the Federal government is described as a positive first step for future economic production growth in Canada.

Canadian Natural Resources Limited Announces 2026 First Quarter Results

Canadian Natural (TSX: CNQ, NYSE: CNQ) reported strong first quarter 2026 results, with net earnings of $1.3 billion and adjusted net earnings from operations of $2.4 billion. Quarterly production averaged approximately 1,643,000 BOE/d, up 4% or 61,000 BOE/d from Q1/25. The company returned approximately $1.5 billion to shareholders in Q1/26, including $1.2 billion in dividends and $0.3 billion in share repurchases, and has increased its annualized dividend to $2.50 per common share, marking 26 consecutive years of dividend growth. Oil Sands Mining and Upgrading operating costs were $23.73/bbl (US$17.30/bbl), and record North American E&P production was achieved. The company is progressing several growth projects and continues to focus on capital efficiency and shareholder returns.

Canadian Natural Resources Limited (TSX: CNQ) (NYSE: CNQ) announced that its Board of Directors has declared a quarterly cash dividend of C$0.625 per common share. The dividend will be payable on July 7, 2026 to shareholders of record at the close of business on June 19, 2026. The company highlighted that 2026 marks the 26th consecutive year of dividend increases, with a compound annual growth rate (CAGR) of 20% over that period. This announcement underscores the Board's confidence in the sustainability of the business model and the company's strong balance sheet. Canadian Natural is a senior crude oil and natural gas production company with operations in Western Canada, the U.K. portion of the North Sea, and Offshore Africa.