Canadian Natural Resources (CNQ) Operating Expenses (2009 - 2026)
Canadian Natural Resources (CNQ) posted Operating Expenses of $1.0 billion for Q1 2026, down 94.03% sequentially from $17.4 billion in Q4 2025, and up 290.52% YoY from $265.5 million in Q1 2025.
Canadian Natural Resources (CNQ) Operating Expenses (2009 - 2026) Analysis & Trends
Canadian Natural Resources has reported Operating Expenses for 18 years, with the latest figure at $1.0 billion in Q1 2026.
- Quarterly Operating Expenses rose 290.52% year-over-year to $1.0 billion in Q1 2026, while the trailing twelve-month figure through Mar 2026 was $19.0 billion (up 1185.97% YoY) and the FY2025 annual result came in at $18.3 billion, down 9.38% from the prior year.
- Operating Expenses slipped to $1.0 billion in Q1 2026 per CNQ's latest filing, from $17.4 billion in the prior quarter.
- Over five years, Operating Expenses peaked at $17.4 billion in Q4 2025 and troughed at $22.8 million in Q4 2023.
- A 5-year average of $1.4 billion and a median of $429.0 million in 2022 frame the typical range for Operating Expenses.
- The widest YoY moves for Operating Expenses: up 3593.9% in 2024, down 88.17% in 2024.
- Over 5 years, Operating Expenses stood at $166.5 million in 2022, then plunged by 86.32% to $22.8 million in 2023, then soared by 3593.9% to $841.1 million in 2024, then soared by 1965.44% to $17.4 billion in 2025, then plunged by 94.03% to $1.0 billion in 2026.
- According to Business Quant data, Operating Expenses over the past three periods registered $1.0 billion, $17.4 billion, and $472.3 million for Q1 2026, Q4 2025, and Q3 2025 respectively.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Conocophillips | 164.02 Bn | 156.33 Bn | 12.81 Bn | 2.43 Bn |
| 2 | Canadian Natural Resources | 106.64 Bn | 104.75 Bn | 10.66 Bn | 114.95 Mn |
| 3 | Eog Resources | 80.34 Bn | 75.43 Bn | - | 5.09 Bn |
| 4 | Diamondback Energy | 59.28 Bn | 58.82 Bn | 5.55 Bn | 3.05 Bn |
| 5 | Woodside Energy | 46.13 Bn | 40.19 Bn | 6.02 Bn | - |
| 6 | Devon Energy | 46.13 Bn | 45.12 Bn | 6.02 Bn | 5.03 Bn |
| 7 | Occidental Petroleum | 39.39 Bn | 35.24 Bn | 7.73 Bn | 4.55 Bn |
| 8 | Eqt | 33.76 Bn | 33.65 Bn | 1.42 Bn | 1.42 Bn |
| 9 | Texas Pacific Land | 26.55 Bn | 26.30 Bn | - | 54.24 Mn |
| 10 | Expand Energy | 22.90 Bn | 21.63 Bn | 2.33 Bn | 2.30 Bn |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 1.04 Bn |
| Dec 31, 2025 | 17.37 Bn |
| Sep 30, 2025 | 472.31 Mn |
| Jun 30, 2025 | 108.98 Mn |
| Mar 31, 2025 | 265.53 Mn |
| Dec 31, 2024 | 841.12 Mn |
| Sep 30, 2024 | 68.91 Mn |
| Jun 30, 2024 | 301.23 Mn |
| Mar 31, 2024 | 565.49 Mn |
| Dec 31, 2023 | 22.77 Mn |
| Sep 30, 2023 | 582.57 Mn |
| Jun 30, 2023 | 68.49 Mn |
| Mar 31, 2023 | 232.26 Mn |
| Dec 31, 2022 | 166.49 Mn |
| Sep 30, 2022 | 685.47 Mn |
| Jun 30, 2022 | 429.03 Mn |
| Mar 31, 2022 | 465.79 Mn |
| Dec 31, 2021 | 280.05 Mn |
| Sep 30, 2021 | 490.15 Mn |
| Jun 30, 2021 | 180.60 Mn |