who owns natural resources in canada

Canadian Natural Resources Ltd. acquires, explores for, develops, and produces natural gas, crude oil, and related products. The tie-in of the major components of Horizon Phase 2B was successfully completed during the Company’s planned major turnaround. Yellowknife is the capital.

Canadian Natural remained dedicated to achieving further cost reductions both on the operational and capital sides. Section 91 of the Constitution Act, 1867 defines the federal government’s legislative authority. As one of the initial entrants in the field we were better able to understand and economically bid on asset packages including the landmark acquisition in 1999 where the majority of our thermal and Horizon Project mining properties were acquired. The newly expanded gas plant reached its production capacity of 125 MMcf/d and approximately 12,200 bbl/d of liquids with the completion of new wells. Canadian Natural became a major natural gas producer in British Columbia through acquisition and drilling. We took our time and developed an expertise in these operations. As targeted, the Company continued to deliver returns to shareholders with the June 6th distribution of approximately 22.6 million PrairieSky common shares at a volume weighted average price of $24.89 per share. The project targets to add 50,000 barrels of bitumen conversion capacity to the market in 2018, further contributing to improved heavy crude oil pricing for all of the Company’s heavy crude oil barrels. Tremendous development opportunities within the Company’s in situ oil sands asset portfolio, incremental to our operating Primrose, Wolf Lake, Kirby South, Kirby North and Jackfish projects. Subsequent to year-end, the Company further increased its quarterly dividend to $0.275 per common share. Natural Gas. Canadian Natural also operates in areas which have access for exploration activities and where pipeline systems already exist. Deep Basin natural gas of Northwest Alberta was initially acquired as part of a larger acquisition and further augmented by other acquisitions. In 2016, the Horizon Oil Sands expansion continued to be a priority for Canadian Natural’s capital allocation. Combining our strengths with the expertise of NW Refining Inc., the Company formed a partnership targeting a competitive return on capital. The acquired assets are high quality, concentrated liquids-rich natural gas weighted assets, with additional light crude oil exposure. Suncor (Total does have a 29.2% stake in the upcoming Fort Hills Mine), Canadian Natural Resources and Imperial Oil (78.7% USA) (Exxon Mobil Canada does have a 29% stake in the Imperial Oil mines and 70% of Imperial Oil shares are owned by Exxon; so 71% x 70% + 29% is 78.7% American owned therefore 21.3% Canadian owned) are Canadian companies. This marked the 19th consecutive year of dividend increases for our shareholders.

One of the largest independent natural gas producers in Canada.

Canadian Natural realized first SCO at the Horizon Oil Sands on February 28, 2009. The Primrose East expansion added 40,000 bbl/d of capacity after achieving first production. As a result of the detailed work performed by the Company’s operating and technical teams, operating cost reductions in 2015 accumulated to over $1.1 billion based on 2014 unit rates versus 2015 unit rates. This transition forms the basis of the Company’s sustainable free cash flow. The Company completed its transition to a Long Life Low Decline asset base with the successful completion of the Phase 3 expansion at Horizon. Canada can gain great benefits from natural-resources discoveries. Largest independent natural gas producer in Canada. Additionally during the third quarter of 2013,  plant expansion at Septimus, Canadian Natural’s premium liquids-rich natural gas Montney play, was completed. Northwest Territories, region of northern and northwestern Canada encompassing a vast area of forests and tundra. First, it has a large landmass that, early on, became governed by one political system. Canadian Natural focused on the continued development of our high quality thermal in situ assets, expanded the Pelican Lake tertiary recovery project and planned  for the Horizon oil sands mine expansion – all part of the Company’s strategy to transition to a longer-life  low decline, more sustainable asset mix. Heavy crude oil operations were new to Canadian Natural following the acquisition of primary heavy crude oil lands in 1993. We are an effective and efficient operator with a diversified portfolio of assets in North America, the UK North Sea and Offshore Africa, which enables us to generate significant value, even in challenging economic environments. Subsequent to that, Standard & Poors’ rating action resulted in a BBB rating and stable outlook, while DBRS affirmed their rating at BBB High with a negative trend. The Company applied for regulatory approval of the Kirby In Situ Oil Sands project, the next project to expand the Company’s thermal crude oil portfolio. "To develop people to work together to create value for the Company's shareholders by doing it right with fun and integrity.". From 2014 to 2015, cost reductions ranging from 20% to 25% were attained throughout the Company’s North America Exploration & Production (E&P) operations. In December 2014, the Company sold a substantial portion of its royalty assets to PrairieSky for a total purchase price of $1.66 billion including $673 million in cash and $985 million in PrairieSky shares (equivalent to 44,444,444 PSK common shares). Free cash flow was significant in 2018 at approximately $2.8 billion after net capital expenditures and dividend commitments.

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