CANADIAN NATURAL RESOURCES Ltd (CNQ) Form 6-K — Nov 5, 2026
Canadian Natural Resources reported Q3/26 net earnings of approximately C$3.0 billion and adjusted net earnings from operations of C$3.4 billion ($1.67/share), with adjusted funds flow of about C$5.5 billion. Total production reached approximately 1,652,000 BOE/d, up 2% year-over-year, including record thermal in situ production of ~300,000 bbl/d and record North American Conventional E&P liquids of ~358,000 bbl/d. The Horizon turnaround was completed seven days early, adding an estimated 23,000 bbl/d of SCO in Q4, and turnaround intervals are being extended to once every three years.
Key figures
- Eps
- C$1.46 basic / C$1.45 diluted (Q3/26)
- Guidance
- 2026 crude oil and NGLs production targeted at 1,204,000-1,243,000 bbl/d; natural gas at 2,595-2,635 MMcf/d; 100% of free cash flow targeted to share repurchases; buyback pace of $800 million per month in November and December 2026
- Net Income
- C$2,997 million (Q3/26)
- Total Debt
- C$16,633 million long-term debt; net debt C$12,117 million
- Cash Position
- C$4,516 million
- Shares Outstanding
- 2045524000
- Dividend
- C$0.625/quarter (C$2.50 annualized), 26 consecutive years of growth
- Liquidity
- C$9,937 million
- Wti q3 avg
- US$85.68/bbl (+32% YoY)
- Ytd buybacks
- 58.2 million shares at C$65.85 weighted average price (C$3.8 billion)
- Total production q3
- 1,651,720 BOE/d
- Liquids production q3
- 1,217,178 bbl/d (+4% YoY)
- Realized sco price q3
- C$114.56/bbl (+30% YoY)
- Adjusted funds flow q3
- C$5,522 million ($2.68/share)
- Shareholder returns q3
- C$5.3 billion total; C$2.9 billion direct
- Thermal in situ record
- 299,632 bbl/d (+9% YoY)
- Ytd shareholder returns
- C$10.6 billion (first nine months 2026)
- Adjusted net earnings q3
- C$3,427 million
- Natural gas production q3
- 2,607 MMcf/d
- Debt to book capitalization
- 20.5%
- Adjusted net earnings per share
- C$1.67 basic
AI analysis
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