Canadian Natural Resources

Canadian Natural Resources is an efficient and effective operator with a diverse portfolio of assets in North America, the United Kingdom's portion of the North Sea, and Offshore Africa, allowing them to generate significant value for its shareholders. They are constantly striving for safe, effective, efficient, and environmentally responsible operations while also executing the economic development of their diverse asset base. Their financial discipline, commitment to a strong balance sheet, and ability to generate adjusted funds flow enable them to grow their company over time, even in difficult economic environments.

One of the strongest and most diversified asset portfolios of any independent energy producer in the world can be found in their well-balanced mixture of natural gas, light crude oil, heavy crude oil, bitumen, and synthetic crude oil (SCO). Through the expansion of its world-class polymer flood project at Pelican Lake, its vast thermal in situ opportunities, and the development of its Oil Sands Mining and Upgrading assets, the Company has finished transitioning to a long-life low decline asset base. The foundation of the company's sustainable cash flow is this transition.

Natural Gas

• One of Canada's largest independent natural gas producers.
• One of the most significant undeveloped land bases in the relatively undeveloped natural gas resource area of Northeast British Columbia and Northwest Alberta, which includes the Montney and Deep Basins.

Light Crude Oil and NGLs

• North America has a diverse portfolio of light crude oil and natural gas liquids.
• Offshore Africa development and exploration opportunities in Côte d'Ivoire.
• 20% stake in offshore South African blocks 11B/12B.
• Opportunities for development in the UK portion of the North Sea.

Heavy Crude Oil

• One of Canada's biggest producers of heavy crude oil, offering a variety of opportunities at Pelican Lake's world-class polymer flood asset as well as in primary heavy crude oil.

Oil Sands

• Significant development opportunities exist within the Company's thermal in situ oil sands asset portfolio, which is in addition to our operating assets at the Primrose, Wolf Lake, Kirby South, Kirby North, and Jackfish projects.
• With over 7.5 billion barrels of Company gross proved plus probable SCO reserves, the Company has world-class Oil Sands Mining and Upgrading assets.
• There have been no declines in over 50 years.
• Mined oil sands, produced bitumen, and upgraded to SCO.
• 70% ownership and operation of the Muskeg River and Jackpine mines.
• Horizon Oil Sands Mine and Upgrader is wholly owned and operated by the company.
• Mined oil sands are upgraded at the Scotford upgrader (Shell-operated), which is 70% owned.
• Carbon sequestration at Scotford (Shell-operated) via the 70%-owned Quest Carbon Capture and Storage Project (CCS).

In general, it is also Canada's largest independent producer of heavy crude oil and Western Canada's largest independent producer of natural gas. Canadian Natural Resources was listed as the 306th-largest public company in the world in the 2020 Forbes Global 2000. CNRL was referred to as a "Calgary-based oil and gas giant" by CBC.CNRL is the owner and operator of the Athabasca Oil Sands Project (AOSP), which is located about 70 km north of Fort McMurray, Alberta. Forbes reported on May 13, 2021, that CNRL had a market capitalization of $36.6 billion, $12.6 billion in sales, and 9,709 employees.

Founded: 1973

Headquarters: Calgary, Alberta

Website: https://www.cnrl.com