Canadian Natural Posts Record Q2 Results Amid Operational Excellence

Canadian Natural Resources Limited (TSX: CNQ) (NYSE: CNQ) reported its strongest second quarter results in history, exceeding budgeted production levels and achieving new operational records. In a statement, President Scott Stauth noted that the company's focus on operational excellence, capital efficiency, and continuous improvement drove eight new records in Q2/26.

The highlight of the quarter was the world-class Oil Sands Mining and Upgrading operations, which achieved record production of approximately 625,000 bbl/d and high upgrader utilization of 106%. This resulted in the highest quarterly oil sands mining production in its history, with a per barrel netback of approximately $78.00/bbl.

On a total corporate basis, Canadian Natural achieved record quarterly production of approximately 1,677,000 BOE/d, representing an increase of 256,000 BOE/d or 18% from Q2/25 levels. The company also exceeded its budgeted production levels in its North American Conventional E&P assets.