Canadian Natural Resources’ Number of Wells (2016-2023)

The statistic highlights Canadian Natural Resources’ Number of Wells, reported quarterly from Q1 2016 onwards.

Canadian Natural Resources’ Number of Wells

The number of wells of Canadian Natural Resources has exhibited fluctuations over the quarters. The total number of wells of the company has increased by 11.57% in the first quarter of 2023 compared to Q4 of 2022. The company has witnessed a decline in the total number of wells from the third quarter of 2022 to the fourth quarter of 2022 by 15.17%. In the quarter preceding Q4 of 2022, there has been an increase in the number of wells by 7.69% compared to Q2 of 2022.

In 2022, the Company significantly increased its drilling activities, completing a total of 390 net crude oil and natural gas wells, compared to 199 wells drilled in the previous year. This represents nearly double the number of wells drilled during this period. Specifically, the Company drilled 72 net natural gas wells, 176 net primary heavy crude oil wells, 6 net Pelican Lake heavy crude oil wells, 104 net bitumen (thermal oil) wells, and 32 net light crude oil wells.

Among the wells drilled in 2022, there were 127 net horizontal multilateral heavy oil wells, including 52 net wells at Smith in the Clearwater, which were completed successfully. Additionally, the Company achieved success in drilling 32 net Montney and Deep Basin light crude oil wells.

Throughout the year, the Company’s natural gas drilling program was productive, resulting in the completion of 72 net wells, including 38 net Montney and 34 net Deep Basin wells. Notably, in the fourth quarter of 2022 alone, the Company drilled 15 net wells for natural gas.

Overall, the Company’s drilling efforts in 2022 showcased significant growth and success across various crude oil and natural gas exploration projects.

About Canadian Natural Resources Limited (CNRL)

Canadian Natural Resources Limited (CNRL) is a prominent energy company founded in 1973 and headquartered in Calgary, Alberta, Canada. It is a major independent Canadian energy firm involved in various aspects of the industry, including acquiring, exploring, developing, producing, marketing, and selling crude oil, natural gas, and NGLs (Natural Gas Liquids). The company primarily operates in western Canada, the UK sector of the North Sea, and Offshore Africa.

CNRL takes a substantial interest in the prospects it participates in and aims to enhance crude oil and natural gas production, reserves, cash flow, and net asset value per common share. This growth is achieved through sustainable and responsible development of existing crude oil and natural gas properties and the exploration and acquisition of new reserves. Environmental stewardship and safety excellence are core values for the company, ensuring responsible resource development.

By emphasizing innovation and operational excellence, CNRL remains a significant player in the energy sector, contributing to Canada’s economic growth and energy security.

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