Canadian Natural Smashes Second Quarter Production Records

Canadian Natural Resources Limited announced its 2026 second quarter results, which exceeded expectations. The company's President, Scott Stauth, attributed the success to operational excellence and continuous improvement.

In the second quarter of 2026, Canadian Natural achieved record quarterly production of approximately 1,677,000 BOE/d, an increase of 256,000 BOE/d or 18% from Q2/25 levels. The company's Oil Sands Mining and Upgrading operations produced a record high of 625,000 bbl/d with strong upgrader utilization of 106%. This resulted in the highest Oil Sands Mining and Upgrading per barrel netback ever achieved by the Company during a quarter at approximately $78.00/bbl.

The company's Chief Financial Officer, Victor Darel, added that Canadian Natural delivered impressive financial performance in Q2/26, generating quarterly results that were the highest in the Company's history for both adjusted net earnings of $4.6 billion and adjusted funds flow of $6.9 billion. This robust cash flow generation provided significant returns to shareholders, totaling approximately $4.0 billion in Q2/26.

Canadian Natural increased its 2026 annual production guidance range for the second time this year to 1,637 MBOE/d and 1,682 MBOE/d, a 20 MBOE/d increase at mid-point from the previous guidance range of 1,615 MBOE/d and 1,665 MBOE/d. The company remains focused on executing its prudent and efficient 2026 capital program as its operating capital remains unchanged at approximately $6.0 billion.