Profile: Canadian Natural Resources Ltd (CNQ.TO)
18 Sep 2018
Canadian Natural Resources Limited, incorporated on January 6, 1985, is an independent crude oil and natural gas exploration, development and production company. The Company's segments include Exploration and Production, Oil Sands Mining and Upgrading, and Midstream. The Exploration and Production segment includes exploration, development, production and marketing of crude oil, natural gas liquids (NGLs) and natural gas. The Company's exploration and production operations are focused in North America in Western Canada, the United Kingdom portion of the North Sea, and Cote d'Ivoire, Gabon and South Africa in Offshore Africa. The Horizon Oil Sands Mining and Upgrading segment (Horizon) produces synthetic crude oil (SCO) through bitumen mining and upgrading operations. Midstream activities include the Company's pipeline operations, an electricity co-generation system and an investment in the North West Redwater Partnership (Redwater Partnership). As of December 31, 2016, the Company's gross proved crude oil, bitumen (thermal oil), SCO and NGLs reserves totaled 4,866 million barrels (MMbbl), and the Company's gross proved plus probable crude oil, bitumen (thermal oil), SCO and NGLs reserves totaled 7,667 MMbbl. At December 31, 2016, the Company's gross proved natural gas reserves totaled 6,617 billion cubic feet (Bcf), and the Company's gross proved plus probable natural gas reserves totaled 9,076 Bcf.
The Company, through its subsidiary, CNR International (U.K.) Limited, operates in the North Sea. The northerly fields are centered around the Ninian field where the Company has a working interest. The central processing facility is connected to other fields, including the Columba Terraces and Lyell fields where the Company operates with working interests. The Company has working interest in the Strathspey field. As of December 31, 2016, the Company had an interest in nine licenses covering 10 blocks and part blocks surrounding the Ninian, and a working interest in the abandoned Hutton field. In the central portion of the North Sea, the Company holds a working interest in the Banff field and also owns an operating working interest in the Kyle field. Production from the Kyle field is processed through the Banff floating production, storage and offloading (FPSO) facilities. The Company holds a working interest in T-block (including the Tiffany, Toni and Thelma fields). As of December 31, 2016, the Company owned interests in three exploration licenses offshore Cote d'Ivoire. The Company has an operating interest in the Espoir field in Block CI-26, which is located in water depths ranging from 100 to 700 meters. The Company has an operating interest in the Baobab field, located in Block CI-40, which is eight kilometers south of the Espoir facilities.
As of December 31, the Company's Midstream assets included two crude oil pipeline systems and a working interest in an approximately 84-megawatt cogeneration plant at Primrose. During the fiscal year ended December 31, 2016, the Company targeted nine net natural gas wells, including four wells in Northeast British Columbia and five wells in Northwest Alberta. The majority of these wells were concentrated in the Company's Northern Plains region. The Company's Oil Sands Mining and Upgrading Phase II/III expansion activity focuses on field construction and commissioning of the hydrogen unit, hydrotreater unit, vacuum distillation and diluent recovery unit, sour water concentrator, tank farms, tailings re-handling plant, froth treatment, froth tank, tailings transfer pumphouses and pipelines, extraction plant, ore preparation plants, and superpot along with engineering, procurement and construction related to tailings retrofit, sour water concentrator, combined hydrotreater and sulfur recovery units.
Canadian Natural Resources Ltd
2100, 855 - 2 Street S.W.
CALGARY AB T2P 4J8
Company Web Links
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