View source for Company:Canadian Natural Resources

{{Infobox company
| name          = Canadian Natural Resources Limited
| logo          = Canadian Natural Logo.svg
| logo_size     = 200px
| type          = [[Finance:Public company|Public company]]
| traded_as     = {{TSX|CNQ}}<br>{{New York Stock Exchange|CNQ}}<br>S&P/TSX 60 component
| industry      = Petroleum industry
| key_people    = Tim S. Mckay, [[Social:President (corporate title)|President]]<br>N. Murray Edwards, [[Social:Chairman|Chairman]], Gary Filmon, director<BR>Gordon D. Giffin, director<BR>Frank McKenna,  director<BR>James S. Palmer, director<BR>
| products      = [[Chemistry:Petroleum|Petroleum]]<br>[[Chemistry:Natural gas|Natural gas]]<br>Natural gas liquids
| production    = {{convert|1079|e3BOE|lk=in}} per day (2018)
| revenue       = {{increase}} $21.027 billion (2018)
| net_income    = {{increase}} $2.591 billion (2018)
| assets        = {{decrease}} $71.559 billion (2018)
| equity        = {{increase}} $31.974 billion (2018)
| num_employees = 9,709 (2018)
| homepage      = {{URL|https://www.cnrl.com/}}
| footnotes     = <ref name=20F>{{cite web | url=https://www.sec.gov/Archives/edgar/data/1017413/000101741319000018/a40-f.htm | title=Canadian Natural Resources Limited 2018 Form 20-F Annual Report | publisher=U.S. Securities and Exchange Commission}}</ref>
}}
'''Canadian Natural Resources Limited''', or '''CNRL''' or '''Canadian Natural''', is a company engaged in [[Chemistry:Hydrocarbon exploration|hydrocarbon exploration]] primarily in Western Canada, the {{wipe|United Kingdom}} sector of the North Sea, and offshore Côté d'Ivoire and Gabon. The company is headquartered in Calgary, Alberta.<ref name=20F/>

The company has the largest undeveloped base in the Western Canadian Sedimentary Basin. It is the largest independent producer of [[Chemistry:Natural gas|natural gas]] in Western Canada and the largest producer of heavy crude oil in Canada.<ref name=20F/>

The company is ranked 342nd on the Forbes Global 2000.<ref name=forbes>{{cite web | url=https://www.forbes.com/companies/canadian-natural-resources/ | title=Forbes: Canadian Natural Resources | publisher={{wipe|Forbes}}}}</ref>

==Current operations==
As of December 31, 2018, the company had proved reserves of {{convert|9.679|e9BOE|lk=in}}, of which 63% were [[Chemistry:Synthetic crude|synthetic crude]].<ref name=20F/>

The company also owns two operated pipeline systems, an electricity [[Physics:Cogeneration|cogeneration]] facility, and a 50% interest in the North West Redwater Partnership.<ref name=20F/>

In 2018, the company averaged production of {{convert|1079|e3BOE|lk=in}} per day, of which 76% was [[Chemistry:Petroleum|petroleum]] and natural gas liquids and 24% was [[Chemistry:Natural gas|natural gas]]. In 2018, production came as follows:<ref name=20F/>
* [[Chemistry:Synthetic crude|Synthetic crude]] from oil sands mining in Northern Alberta - 39% of production.
* Natural gas, primarily produced in Alberta, British Columbia, and Saskatchewan - 24% of production
* Light and medium crude oil and natural gas liquids - 13% of production
* [[Chemistry:Bitumen|Bitumen]] - 10% of production
* Primary heavy crude oil - 8% of production
* Pelican Lake heavy crude oil - 6% of production

The company's largest operation is the Horizon Oil Sands project which is {{convert|75|km}} north of Fort McMurray, Alberta. It includes a surface oil sands mining and bitumen extraction plant and bitumen upgrading with associated infrastructure. The company sanctioned the Horizon Oil Sands Project in February 2005 and it began production in early 2009.

==History==
The company was founded in 1973.<ref name=forbes/>

In 1998, the company sold land to Remington Energy for C$127.5 million.<ref>{{cite news | url=https://www.nytimes.com/1998/07/29/business/company-news-remington-energy-of-canada-in-84.8-million-land-deal.html | title=COMPANY NEWS; REMINGTON ENERGY OF CANADA IN $84.8 MILLION LAND DEAL | agency={{wipe|Bloomberg News}} | publisher={{wipe|The New York Times}} | date=July 29, 1998 | url-access=subscription}}</ref>

In 1999, the company and Penn West Petroleum (now [[Company:Obsidian Energy|Obsidian Energy]]) acquired the Canadian assets of BP Amoco.<ref>{{cite news | url=https://www.nytimes.com/1999/08/06/business/world-business-briefing-americas-canadians-buy-bp-amoco-assets.html | title=WORLD BUSINESS BRIEFING: AMERICAS; CANADIANS BUY BP AMOCO ASSETS | first=Timothy | last=Pritchard | work={{wipe|The New York Times}} | date=August 6, 1999 | url-access=subscription}}</ref>

In 2000, the company acquired Ranger Oil for C$1.08 billion.<ref>{{cite news | url=https://www.theglobeandmail.com/report-on-business/white-knight-rescues-ranger-oil/article18423708/ | title=White knight rescues Ranger Oil | first=BRENT | last=JANG | work=The Globe and Mail | date=June 16, 2000}}</ref><ref>{{cite news | url=https://www.nytimes.com/2000/06/16/business/world-business-briefing-americas-ranger-accepts-sweeter-bid.html | title=WORLD BUSINESS BRIEFING: AMERICAS; RANGER ACCEPTS SWEETER BID | first=Timothy | last=Pritchard | work={{wipe|The New York Times}} | date=June 16, 2000 | url-access=subscription}}</ref><ref>{{cite news | url=https://www.wsj.com/articles/SB961088510390425127 | title=Canadian Natural Bids for Ranger Oil In Move to Thwart Petrobank Takeover | first=Tamsin | last=Carlisle | work={{wipe|The Wall Street Journal}} | date=June 16, 2000 | url-access=subscription}}</ref>

In 2002, the company acquired Rio Alto for $2.4 billion.<ref>{{cite news | url=https://www.cbc.ca/news/business/canadian-natural-to-buy-rio-alto-for-2-4-billion-1.352501 | title=Canadian Natural to buy Rio Alto for $2.4 billion | work=CBC News | date=May 13, 2002}}</ref><ref>{{cite news | url=https://www.nytimes.com/2002/05/14/business/latest-energy-deal-in-canada-is-a-plan-to-acquire-rio-alto.html | title=Latest Energy Deal in Canada Is a Plan to Acquire Rio Alto | first=Bernard | last=Simon | work={{wipe|The New York Times}} | date=May 14, 2002 | url-access=subscription}}</ref>

In February 2004, the company acquired Petrovera Resources, a [[Finance:Joint venture|joint venture]] between [[Company:Encana|Encana]] and [[Company:ConocoPhillips|ConocoPhillips]].<ref>{{cite news | url=https://www.ogj.com/general-interest/article/17292927/canadian-natural-resources-buys-petrovera-resources | title=Canadian Natural Resources buys Petrovera Resources | work=Oil & Gas Journal | date=February 19, 2004}}</ref>

In September 2006, the company acquired the Canadian operations of [[Company:Anadarko Petroleum|Anadarko Petroleum]] for US$4.1 billion.<ref>{{cite news | url=https://www.theglobeandmail.com/report-on-business/canadian-natural-buys-anadarko-canada-for-41-billion-us/article1103178/ | title=Canadian Natural buys Anadarko Canada for $4.1-billion (U.S.) | first=David | last=Parksinson | work=The Globe and Mail | date=September 14, 2006}}</ref>

In April 2014, the company acquired the conventional assets in Canada of Devon Energy for C$3.125 billion.<ref>{{cite press release | url=https://www.businesswire.com/news/home/20140402005361/en/Devon-Energy-Completes-Sale-Canadian-Conventional-Assets | title=Devon Energy Completes Sale of Canadian Conventional Assets | publisher={{wipe|Business Wire}} | date=April 2, 2014}}</ref>

In 2017, the company acquired the Canadian oil sands assets of Royal Dutch Shell, including a 70% working interest in the Athabasca Oil Sands Project, for $5.3 billion in cash plus 97,560,975 shares. The shares were sold in 2018.<ref>{{cite press release | url=https://www.globenewswire.com/news-release/2017/03/09/1206412/0/en/Canadian-Natural-Resources-Limited-Announces-the-Acquisition-of-Working-Interest-in-the-Athabasca-Oil-Sands-Project-and-Other-Oil-Sands-Assets.html | title=Canadian Natural Resources Limited Announces the Acquisition of Working Interest in the Athabasca Oil Sands Project and Other Oil Sands Assets | publisher=Marketwired | date=March 9, 2017}}</ref><ref>{{cite news | url=https://www.bizjournals.com/houston/news/2018/05/08/shell-selling-entire-canadian-natural-resources.html | title=Shell selling entire Canadian Natural Resources stake for $3.3B | first=Olivia | last=Pulsinelli | work={{wipe|American City Business Journals}} | date=May 8, 2018}}</ref>

In August 2018, the company acquired the idled Joslyn oil sands project from [[Company:Total S.A.|Total S.A.]] and its partners.<ref>{{cite news | url=https://www.ogj.com/drilling-production/production-operations/unconventional-resources/article/17295959/cnrl-to-buy-idle-joslyn-oil-sands-project | title=CNRL to buy idle Joslyn oil sands project | work=Oil & Gas Journal | date=August 31, 2018}}</ref>

In September 2018, the company acquired Laricina Energy for $46 million.<ref>{{cite news | url=https://www.ogj.com/drilling-production/production-operations/ior-eor/article/17296359/cnrl-completes-laricina-energy-acquisition | title=CNRL completes Laricina Energy acquisition | work=Oil & Gas Journal | date=September 17, 2018}}</ref>

In June 2019, the company acquired the remaining assets in Canada of Devon Energy.<ref>{{cite press release | url=https://www.globenewswire.com/news-release/2019/06/27/1875659/0/en/Canadian-Natural-Resources-Limited-Completes-the-Acquisition-of-Substantially-All-of-the-Assets-of-Devon-Canada-Corporation.html | title=Canadian Natural Resources Limited Completes the Acquisition of Substantially All of the Assets of Devon Canada Corporation | publisher=Globe Newswire | date=June 27, 2019}}</ref>

===Accidents===
In June 2013, the Alberta Energy Regulator investigated reports of leaks in the company's Primrose East oil sands project. The regulator concluded that nearly a million litres of bitumen mixed with water had seeped into the ground around the site.<ref>{{cite news |title=Northern Alberta oilfield's continuing bitumen seepage 'disturbing,' environmentalist warns |url=https://www.cbc.ca/news/canada/calgary/cnrl-well-leak-alberta-primrose-bitumen-1.3859564 |accessdate=20 September 2019 |agency=The Canadian Press |publisher=CBC News}}</ref><ref>{{cite news |last1=Krugel |first1=Lauren |title=Groups demand probe amid CNRL bitumen leak {{!}} Globalnews.ca |url=https://globalnews.ca/news/777615/groups-demand-probe-amid-cnrl-bitumen-leak/ |accessdate=20 September 2019 |agency=The Canadian Press |publisher=Global News |date=13 August 2013 |language=en}}</ref>

In April 2014, a pipeline owned by the company spilled 70,000 liters of oil and processed water northwest of Slave Lake, Alberta.<ref>{{cite news | url=https://www.huffingtonpost.ca/2014/04/02/cnrl-pipeline-spill_n_5078644.html | title=Canadian Natural Resources Pipeline Spills 70,000 Litres Of Oil, Water | agency=The Canadian Press | publisher=HuffPost | date=2 April 2014}}</ref><ref>{{cite news | url=https://www.cbc.ca/news/business/canadian-natural-resources-pipeline-leaks-near-slave-lake-1.2597036 | title=Canadian Natural Resources pipeline leaks near Slave Lake | agency=The Canadian Press | publisher=CBC News | date=3 April 2014}}</ref>

In November 2014, a  pipeline owned by the company spilled almost 60,000 liters of crude oil into a [[Earth:Muskeg|muskeg]] region 27 kilometers from Red Earth Creek, Alberta.<ref>{{cite news | url=https://globalnews.ca/news/1699902/alberta-pipeline-spills-60000-litres-of-crude-into-muskeg/ | title=Alberta pipeline spills 60,000 litres of crude oil into muskeg | work=Global News | date=1 December 2014}}</ref><ref>{{cite news | url=http://globalnews.ca/news/1703807/alberta-oil-spill-examining-cnrls-safety-record/ | title=Alberta oil spill: Examining CNRL's safety record | first1=Anna | last1=Mehler Paperny | first2=Leslie | last2=Young | work=Global News | date=2 December 2014}}</ref>

==See also==
* Petroleum industry in Canada
* Environmental issues in Alberta
* Western Canadian Select

==References==
{{Reflist|1}}

==External links==
{{Finance links
| name      = Canadian Natural Resources Limited
| google    = CNQ
| yahoo     = CNQ
| bloomberg = CNQ:US
| symbol    = CNQ
| sec_cik   = CNQ
}}
{{S&P/TSX 60}}

[[Category:Natural resources organizations]]
[[Category:Companies listed on the New York Stock Exchange]]

{{Sourceattribution|Canadian Natural Resources|1}}