Canadian Natural Resources Limited, listed on the Toronto Stock Exchange, is an oil and gas producer with a significant interest in oil sands mining and upgrading.
The Calgary, Alberta-based company primarily engages in the exploration, production, development and marketing of light and heavy crude oil, natural gas liquids, and hydrocarbon exploration.
The energy producer, also known as CNRL or Canadian Natural, reports having significant operations in Western Canada, North Sea UK, Cote d'Ivoire, and Gabon in West Africa.
In October 2020, Canadian Natural Resources Limited acquired Painted Pony Energy Ltd, a Canadian natural gas producer.
CNRL operates through different segments: midstream and refining, oil sands mining and upgrading, exploration and production.
Oil Sands Mining and Upgrading
The portfolio includes diversified oil sand mines, including Horizon Oil Sands Mine, Athabasca Oil Sands Project, etc. It also holds a working interest in other mines. The company engages in producing synthetic crude oil from the oil sands through surface mining and upgrading operations.
Midstream and Refining
Through this unit, the Canadian energy firm operates NGL pipeline systems and related energy infrastructure. The midstream pipeline asset aid in earning third party revenue, controlling transportation cost and managing heavy crude oil marketing. The assets include two crude oil pipeline systems and a 50 per cent working interest in the cogeneration plant at Primrose.
Exploration and Production
The company caters to geographical markets, including North America, UK North Sea and Offshore Africa. The company, under this segment, engages in the production, exploration and development of crude oil and natural gas. The natural gas production in Canada is concentrated in northeast British Columbia, northwest Alberta, the Foothills, southern and northern plains of Saskatchewan and Alberta.
Canadian Natural Resources’ stocks on the TSX platform trade under the ticker of ‘CNQ'. It is also included in the S&P/TSX 60 component.