Canadian Natural Resources’ Daily Production (2016-2023)

This statistic highlights Canadian Natural Resources’ Daily Production, in Daily production (barrels), reported quarterly from 2016 Q1 onwards.

Canadian Natural Resources Daily Production (barrels) (2016-2013)

The Major part of Daily Production:

Note: The hike is from 2022 Q4 to 2023 Q1.

As per the above data, the daily production of Canadian Natural Resources Limited is $1,319.39 billion was 1.91% more than the year 2022 Q4. In 2022 Q3, the production was $1338.94 billion was more than the immediate next quarter 2022 Q4 which is $1294.68 billion.

The Company’s business approach is to maintain large project inventories and production diversification among each of the commodities it produces. It is light and medium crude oil and NGLs, primary heavy crude oil, Pelican Lake heavy crude oil, bitumen (thermal oil), SCO, and natural gas. The average daily production of light and medium crude oil in 2022 Q4 was 50,152. Primary heavy crude oil production in 2022 Q4 was 67,699. Pelican Lake’s heavy crude in 2022 Q4 was 50333. Bitumen (thermal oil) in 2022 Q4 was 2,52,018. Natural gas in 2022 Q4 was 2075 and natural gas liquids 59,495.

Daily Production

It is important for assessing operational efficiency, tracking performance, and managing resources. It also allows companies to monitor their output levels, compare production over time, and set targets. The company also makes informed decisions regarding resource allocation, capacity planning, and meeting customer demand. The daily production of CNQ can vary depending on a variety of factors. It includes the company’s ongoing drilling as well as production activities, the availability of resources, market demand, and operational considerations. CNQ operates in various regions across Canada, including Alberta’s oil sands, heavy oil, and natural gas fields.

Daily Production Before Royalty

“Daily Production before royalty” refers to the daily quantity or volume of a product or resource produced or extracted before accounting for any royalty payments. Royalties are the payments made to the owner or rights holder of a particular asset. Such as oil, gas, minerals, or intellectual property, in exchange for the use as well as the exploitation of that asset. In the context of daily production, “Daily Production before royalty” indicates that the production figures being discussed or analyzed do not include any deductions for royalty payments. It represents the raw or gross daily production quantity before any royalties are accounted for.

By and large, to determine the net daily production, the applicable royalty payments would need to be reduced from the gross daily production figures. Generally, royalty payments are based on contractual agreements or legal regulations governing the use of assets. Those are calculated as a percentage of the production value or volume.

Trends and News of CNQ

• Despite the sector’s volatile nature, CNQ delivers reliable dividend payments. Investors currently receive over 10% in returns just in dividends and buybacks.
• Additionally, the Company made several adjustments to its debt financing plan in 2022. It included the repayment and cancellation of the $1,150 million term credit facility originally due February 2023.
• The company also amended the $1,000 million credit facility by extending the maturity date to February 2024 and making it a $500 million revolving credit facility.

About Canadian Natural Resources Limited (CNQ)

CNRL is committed to environmentally responsible practices and sustainable development. It focuses on reducing greenhouse gas emissions, optimizing water usage, and minimizing the impact of its operations on the environment. Additionally, CNRL has interests in offshore oil and gas assets in the North Sea. The company’s offshore operations provide diversification in its portfolio and contribute to its production.

CNRL operates a diverse portfolio of assets, including oil sand projects, offshore operations, and conventional oil and gas assets. The company’s primary operations are focused in Western Canada, particularly in the Alberta oil sands region.

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