Canadian Natural Resources (CNQ) Operating Expenses (2009 - 2026)
Canadian Natural Resources' Operating Expenses was $114.95 million in the quarter ended Jun 30, 2026, up 5.5% from $108.98 million a year earlier and up 2.4% from the prior quarter.
Canadian Natural Resources (CNQ) Operating Expenses (2009 - 2026) Analysis & Trends
On a trailing twelve-month basis, Canadian Natural Resources' Operating Expenses was $452.43 million through Jun 30, 2026, up 13.6% year-over-year; for the year ended Dec 31, 2025, it was $18.27 billion, down 9.4% from the prior year.
- Operating Expenses shows a five-year compound annual growth rate of 6.6% (years ended Dec 2020 to Dec 2025).
- In earlier years, Operating Expenses was $20.16 billion in the year ended Dec 31, 2024 (+5.4%), $19.12 billion in the year ended Dec 31, 2023 (-13.0%), $21.99 billion in the year ended Dec 31, 2022 (+36.8%) and $16.08 billion in the year ended Dec 31, 2021 (+21.2%).
- The figure for the quarter ended Jun 30, 2026 marks the highest quarterly Operating Expenses since the quarter ended Mar 31, 2020.
- Compared with a year earlier, Operating Expenses has increased for 13 straight quarters, with growth averaging 13.7% over the last eight quarters.
- The best year-over-year quarter for Operating Expenses over five years was the quarter ended Dec 31, 2025 (growth of 26.2%); the worst was the quarter ended Mar 31, 2023 (a decline of 14.4%).
- Per Business Quant data, CNQ's Operating Expenses in the three quarters before the quarter ended Jun 30, 2026 was $112.3 million (quarter ended Mar 31, 2026), $114.73 million (quarter ended Dec 31, 2025) and $110.45 million (quarter ended Sep 30, 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Shell | 541.34 Bn | 451.89 Bn | 30.13 Bn | 3.19 Bn |
| 2 | Chevron | 403.85 Bn | 381.64 Bn | 33.45 Bn | 53.37 Bn |
| 3 | TotalEnergies SE | 193.34 Bn | 76.47 Bn | - | 46.44 Bn |
| 4 | Eni Spa | 172.00 Bn | 121.52 Bn | - | - |
| 5 | Conocophillips | 150.68 Bn | 123.39 Bn | 12.81 Bn | 2.43 Bn |
| 6 | Equinor Asa | 103.39 Bn | 49.45 Bn | - | -22.18 Bn |
| 7 | Phillips 66 | 100.64 Bn | 89.62 Bn | 8.38 Bn | 47.07 Bn |
| 8 | Canadian Natural Resources | 98.19 Bn | 95.14 Bn | - | 114.95 Mn |
| 9 | Suncor Energy | 80.57 Bn | 66.37 Bn | - | 17.00 Mn |
| 10 | Eog Resources | 73.27 Bn | 57.59 Bn | - | 5.09 Bn |
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 114.95 Mn |
| Mar 31, 2026 | 112.30 Mn |
| Dec 31, 2025 | 114.73 Mn |
| Sep 30, 2025 | 110.45 Mn |
| Jun 30, 2025 | 108.98 Mn |
| Mar 31, 2025 | 105.93 Mn |
| Dec 31, 2024 | 90.91 Mn |
| Sep 30, 2024 | 92.36 Mn |
| Jun 30, 2024 | 90.66 Mn |
| Mar 31, 2024 | 93.51 Mn |
| Dec 31, 2023 | 87.41 Mn |
| Sep 30, 2023 | 80.56 Mn |
| Jun 30, 2023 | 88.59 Mn |
| Mar 31, 2023 | 78.41 Mn |
| Dec 31, 2022 | 79.56 Mn |
| Sep 30, 2022 | 72.07 Mn |
| Jun 30, 2022 | 76.08 Mn |
| Mar 31, 2022 | 91.58 Mn |
| Dec 31, 2021 | 76.95 Mn |
| Sep 30, 2021 | 69.11 Mn |
Canadian Natural Resources Operating Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-expenses&ticker=CNQ&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "ticker": "CNQ", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-expenses&ticker=CNQ&period=max&api_key=YOUR_API_KEY");
const data = await res.json();