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Released August 12, 2025 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--Canadian Natural Resources Limited (CNRL) (Calgary, Alberta) benefited from stronger output at its existing assets and a series of acquisitions across the Montney Shale so far this year, with a series of oil and gas exploration projects set to continue the trend in 2026. Industrial Info is tracking more than US$29 billion worth of active and proposed projects from CNRL, about US$18.3 billion of which is attributed to expansions or additions to existing facilities.
Click on the image at right for a graph detailing active and proposed projects from CNRL, by project type.
CNRL's production averaged 1.42 million barrels of oil equivalent per day (BOE/d) in second-quarter 2025, including total liquids production of 1.02 million barrels per day (BBL/d) and total natural gas production of 2.41 billion cubic feet per day. The BOE/d average was about 10% higher than second-quarter 2024 levels, which the company attributed partly to its Reliability Enhancement Project at its Horizon Oil Sands near Fort McMurray, Alberta, which eliminated the need for a turnaround this year, and a debottlenecking at the Scotford Upgrader in Fort Saskatchewan, Alberta, which was completed last year. CNRL co-owns the Scotford Upgrader with Shell plc (London, England).
So far in the third quarter, CNRL's production has averaged about 602,000 BBL/d, compared with 463,808 BBL/d in the second quarter, and the company expects strong operating results to continue in the second half of 2025. At Horizon, CNRL is preparing to begin construction next year on a US$350 million tailings-treatment addition to a naphtha recovery unit, which the company believes will increase production of synthetic crude oil by 6,300 BBL/d, reduce future reclamation costs by C$700 million, and reduce greenhouse-gas emissions by 308,000 carbon dioxide equivalent (CO2e) annually.
Subscribers to Industrial Info's Global Market Intelligence (GMI) Plant and Project databases can learn more about Horizon and the tailings-treatment addition in a detailed plant profile and project report.
Last month, CNRL acquired a series of liquids-rich assets in the Grande Prairie area of northern Alberta's Montney Shale, which the company estimates will yield production of about 32,000 BOE/d, including 12,500 BBL/d of natural gas liquids (NGL). The recently acquired assets are "directly adjacent to the company's existing core Montney assets, providing opportunities for synergies while adding approximately 120,000 net acres of high-quality land with currently identified significant liquids-rich inventory of approximately 150 locations," CNRL said in a press release.
Industrial Info already is tracking US$770 million worth of CNRL's drilling projects in the Grande Prairie area through the end of 2026, including:
These developments include a US$622 million program in the Smith Field near Slave Lake, Alberta, which involves drilling as many as 174 new primary wells for heavy crude oil through the end of the year. A proposed 2026 program could double the number of new wells by the end of next year. Subscribers can read detailed project reports for the 2025 and 2026 programs.
So far, CNRL and other Canadian oil and gas producers have been spared the effects of U.S. President Donald Trump's tariffs. For more information, see August 8, 2025, article - Canada Bracing for Tariffs, But Energy Spared So Far.
Subscribers to Industrial Info's GMI Project and Plant databases can click here for a full list of detailed reports for projects mentioned in this article, and click here for a full list of related plant profiles.
Subscribers can click here for a full list of detailed reports for active and proposed projects from CNRL.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 trillion (USD).
Click on the image at right for a graph detailing active and proposed projects from CNRL, by project type.CNRL's production averaged 1.42 million barrels of oil equivalent per day (BOE/d) in second-quarter 2025, including total liquids production of 1.02 million barrels per day (BBL/d) and total natural gas production of 2.41 billion cubic feet per day. The BOE/d average was about 10% higher than second-quarter 2024 levels, which the company attributed partly to its Reliability Enhancement Project at its Horizon Oil Sands near Fort McMurray, Alberta, which eliminated the need for a turnaround this year, and a debottlenecking at the Scotford Upgrader in Fort Saskatchewan, Alberta, which was completed last year. CNRL co-owns the Scotford Upgrader with Shell plc (London, England).
So far in the third quarter, CNRL's production has averaged about 602,000 BBL/d, compared with 463,808 BBL/d in the second quarter, and the company expects strong operating results to continue in the second half of 2025. At Horizon, CNRL is preparing to begin construction next year on a US$350 million tailings-treatment addition to a naphtha recovery unit, which the company believes will increase production of synthetic crude oil by 6,300 BBL/d, reduce future reclamation costs by C$700 million, and reduce greenhouse-gas emissions by 308,000 carbon dioxide equivalent (CO2e) annually.
Subscribers to Industrial Info's Global Market Intelligence (GMI) Plant and Project databases can learn more about Horizon and the tailings-treatment addition in a detailed plant profile and project report.
Last month, CNRL acquired a series of liquids-rich assets in the Grande Prairie area of northern Alberta's Montney Shale, which the company estimates will yield production of about 32,000 BOE/d, including 12,500 BBL/d of natural gas liquids (NGL). The recently acquired assets are "directly adjacent to the company's existing core Montney assets, providing opportunities for synergies while adding approximately 120,000 net acres of high-quality land with currently identified significant liquids-rich inventory of approximately 150 locations," CNRL said in a press release.
Industrial Info already is tracking US$770 million worth of CNRL's drilling projects in the Grande Prairie area through the end of 2026, including:
- the addition of 17 to 19 wells in the Karr Field in both 2025 and 2026, to produce natural gas and light crude oil; see project reports for the 2025 and 2026 programs
- the addition of at least 14 wells in the South Karr Creek Field in both 2025 and 2026, to produce light oil, natural gas and NGL; see project reports for the 2025 and 2026 programs
- the addition of at least 17 wells in the Gold Creek Field in both 2025 and 2026, to produce natural gas and condensate; see project reports for the 2025 and 2026 programs
These developments include a US$622 million program in the Smith Field near Slave Lake, Alberta, which involves drilling as many as 174 new primary wells for heavy crude oil through the end of the year. A proposed 2026 program could double the number of new wells by the end of next year. Subscribers can read detailed project reports for the 2025 and 2026 programs.
So far, CNRL and other Canadian oil and gas producers have been spared the effects of U.S. President Donald Trump's tariffs. For more information, see August 8, 2025, article - Canada Bracing for Tariffs, But Energy Spared So Far.
Subscribers to Industrial Info's GMI Project and Plant databases can click here for a full list of detailed reports for projects mentioned in this article, and click here for a full list of related plant profiles.
Subscribers can click here for a full list of detailed reports for active and proposed projects from CNRL.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 trillion (USD).
