Canadian Natural's President, Tim McKay, commented on the third quarter results stating "The resilience of our business model, as witnessed in our third quarter 2020 results, demonstrates Canadian Natural's competitive advantage as the strength of our long life low decline asset base allows the Company to effectively manage through commodity price cycles while preserving net asset value. Canadian Natural is focused on [...]
Canadian Natural Resources Ltd. announces that in connection with the Company’s 20% working interest in South Africa Block 11B/12B, the operator has made a significant gas condensate discovery on the Luiperd prospect, located in the Outeniqua Basin, 175 kilometers off the southern coast of South Africa. This discovery follows the previously announced Brulpadda discovery in 2019. The Luiperd well was drilled to a total [...]
Canadian Natural Resources Ltd. announces that in connection with the Company’s 20% working interest in South Africa Block 11B/12B, the operator has made a significant gas condensate discovery on the Luiperd prospect, located in the Outeniqua Basin, 175 kilometers off the southern coast of South Africa. This discovery follows the previously announced Brulpadda discovery in 2019. The Luiperd well was drilled to a total [...]
Canadian Natural Resources Ltd. announces that the previously announced acquisition by Canadian Natural of all the issued and outstanding common shares of Painted Pony Energy Ltd. pursuant to a plan of arrangement has been completed. Canadian Natural welcomes Painted Pony employees to its Northeast British Columbia and Calgary head office teams. The acquired production, infrastructure and land compliments Canadian [...]
Canadian Natural Resources Ltd. announces it has entered into a definitive arrangement agreement with Painted Pony Energy Ltd. relating to the acquisition of all the issued and outstanding common shares of Painted Pony, for a cash consideration of $0.69 per share. The Company will also assume Painted Pony’s total debt of approximately $350 million. This transaction value represents approximately 1% of Canadian Natural’s [...]
Canadian Natural Resources Ltd. announces its Board of Directors has declared a quarterly cash dividend on its common shares of C$0.425 . The dividend will be payable on October 5, 2020 to shareholders of record at the close of business on September 18, 2020. Canadian Natural is a senior oil and natural gas production company, with continuing operations in its core areas located in Western Canada, the U.K. portion of the [...]
Commenting on the Company's second quarter 2020 results, Tim McKay, President of Canadian Natural, stated "Canadian Natural is in a strong position as a result of our capital flexibility and continued focus on cost control, which maximizes margins in a volatile commodity price environment. The effectiveness of our strategies and our ability to execute on those strategies allows us to react quickly to changing markets and [...]
Canadian Natural Resources Ltd. announces that on June 22, 2020, the Company priced the following US$ unsecured notes: Note / Coupon Principal Maturity Price per Note Yield to Maturity 5 year / 2.05% US$600,000,000 July 15, 2025 US$99.832 2.085% 10 year / 2.95% US$500,000,000 July 15, 2030 US$99.955 2.955% The offering is targeted to close on June 24, 2020, subject to customary closing conditions. Net proceeds from the [...]
Canadian Natural held its Annual General Meeting of the Shareholders on May 7, 2020. The result of the vote by shareholders for each resolution is reported below. 1. The election of the following nominees as directors of the Corporation for the ensuing year or until their successors are elected or appointed. Votes For Votes Withheld Catherine M. Best 788,532,428 87.73 % 110,261,360 12.27 % M. Elizabeth Cannon 893,379,817 [...]
Canadian Natural Resources Ltd. announces its Board of Directors has declared a quarterly cash dividend on its common shares of C$0.425 . The dividend will be payable on July 1, 2020 to shareholders of record at the close of business on June 12, 2020. Canadian Natural is a senior oil and natural gas production company, with continuing operations in its core areas located in Western Canada, the U.K. portion of the North [...]
Commenting on the Company's first quarter 2020 results, Tim McKay, President of Canadian Natural stated, "Through the first quarter of 2020 and in response to the outbreak of the novel coronavirus , we have taken proactive and effective steps to ensure the safety and health of our employees, service providers and the communities we work in, while maintaining safe, reliable operations. We currently have approximately 6,000 [...]
Canadian Natural Resources Ltd. is providing a corporate update on its capital flexibility and its continued focus on effective and efficient operations. Canadian Natural is well positioned through the current global COVID-19 challenges, due to our significant long life low decline asset base that has 27.8 years of reserve life based on proved reserves and 36.0 years of reserve life based on proved plus probable reserves [...]
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