Canadian Natural Resources (CNQ) Capital Expenditures (2009 - 2026)

Canadian Natural Resources' (CNQ) quarterly Capital Expenditures came in at -$1.5 billion in Q1 2026, down 68.77% year-on-year from -$4.9 billion in Q1 2025, and down 271.98% quarter-over-quarter from $887.0 million in Q4 2025.

Canadian Natural Resources (CNQ) Capital Expenditures (2009 - 2026) Analysis & Trends

Canadian Natural Resources has disclosed Capital Expenditures across 17 years of filings, most recently posting -$1.5 billion for Q1 2026.

  • Capital Expenditures for Q1 2026 came in at -$1.5 billion, down 68.77% year-over-year; the trailing twelve-month figure through Mar 2026 was $2.3 billion (up 157.29% YoY), and the FY2025 annual result was -$4.8 billion, down 23.64% from the prior year.
  • Capital Expenditures came in at -$1.5 billion for Q1 2026 at Canadian Natural Resources, down from $887.0 million in the prior quarter.
  • In the past five years, Capital Expenditures ranged from a high of $1.5 billion in Q3 2025 to a low of -$1.5 billion in Q1 2026.
  • The 5-year median for Capital Expenditures is -$903.9 million (2025), against an average of -$364.8 million.
  • Across the five-year window, Capital Expenditures slumped 194.05% in 2024 and jumped 257.0% in 2025, its largest moves.
  • Canadian Natural Resources' Capital Expenditures stood at $1.2 billion in 2022, then slipped by 20.92% to $975.0 million in 2023, then plunged by 194.05% to -$917.0 million in 2024, then surged by 196.73% to $887.0 million in 2025, then plunged by 271.98% to -$1.5 billion in 2026.
  • The last three Capital Expenditures figures came in at -$1.5 billion (Q1 2026), $887.0 million (Q4 2025), and $1.5 billion (Q3 2025), per Business Quant data.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Capex (Qtr)
1 Woodside Energy 631.53 Bn 625.59 Bn - 1.81 Bn
2 Canadian Natural Resources 402.73 Bn 402.73 Bn 6.72 Bn -1.53 Bn
3 Conocophillips 145.39 Bn 139.02 Bn 9.48 Bn 2.95 Bn
4 Eog Resources 74.61 Bn 70.76 Bn - 153.00 Mn
5 Occidental Petroleum 57.00 Bn 53.82 Bn 4.87 Bn 25.00 Mn
6 Diamondback Energy 56.03 Bn 62.20 Bn 4.22 Bn 933.00 Mn
7 Vista Energy, S.A.B. de C.V 36.26 Bn 35.65 Bn 472.36 Mn -
8 Eqt 33.02 Bn 36.36 Bn 2.98 Bn 598.51 Mn
9 Vermilion Energy 32.76 Bn 32.57 Bn 370.10 Mn 98.14 Bn
10 Devon Energy 27.78 Bn 27.78 Bn 3.61 Bn 839.00 Mn

Historic Data

Download Data
DateValue
Mar 31, 2026 -1.53 Bn
Mar 31, 2026 -1.53 Bn
Dec 31, 2025 887.04 Mn
Dec 31, 2025 887.04 Mn
Sep 30, 2025 1.54 Bn
Sep 30, 2025 1.54 Bn
Jun 30, 2025 1.38 Bn
Jun 30, 2025 1.38 Bn
Mar 31, 2025 -903.90 Mn
Mar 31, 2025 -903.90 Mn
Dec 31, 2024 -917.00 Mn
Dec 31, 2024 -917.00 Mn
Sep 30, 2024 -983.02 Mn
Sep 30, 2024 -983.02 Mn
Jun 30, 2024 -1.19 Bn
Jun 30, 2024 -1.19 Bn
Mar 31, 2024 -774.77 Mn
Mar 31, 2024 -774.77 Mn
Dec 31, 2023 975.00 Mn
Dec 31, 2023 975.00 Mn