CNRL releases Q1 2026 MD&A for three months ended March 31, 2026

Canadian Natural Resources Limited

Canadian Natural Resources Limited

CNQ

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  • CNRL published its Q1 2026 MD&A, targeting 2026 production of 1,615,000-1,665,000 BOE/d.
  • Q1 production averaged 1,643,160 BOE/d, including 1,198,079 bbl/d crude oil and NGLs, 2,670 MMcf/d natural gas.
  • Operating capital forecast revised to CAD 5.99 billion, including net acquisition capital of CAD 765 million; capital related to carbon capture projects targeted at about CAD 125 million.
  • Oil sands mining and upgrading output averaged 587,946 bbl/d; quarter impacted by third-party natural gas supply restrictions, unplanned maintenance.
  • Offshore Africa Baobab remained temporarily suspended for planned FPSO maintenance; return to service expected in Q2 2026.


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