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Canadian Natural Posts Record Natural Gas Production, Forecasts More Momentum on LNG Demand

Natural Gas Intelligence · last updated

Even after tapping the brakes at points in 2024 amid low prices, Canadian Natural Resources Ltd. generated record production in the fourth quarter, with executives expecting to maintain the robust output levels this year as it braces for an LNG export surge.

Natural Gas Intelligence's (NGI) NOVA AECO C forward basis natural gas price graph showing historical market volatility.

The Calgary-based independent, Canada’s second largest natural gas producer, said overall fourth quarter production averaged 1.5 million boe/d. Natural gas production averaged 2.28 Bcf/d. Both were all-time highs for the company.

Canadian Natural operates primarily in Western Canada and produces natural gas, natural gas liquids and oil. It also develops bitumen and synthetic crude from the oilsands region.

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