Canadian Natural Resources Limited Completes the Acquisition on Chevron's Alberta Assets and Announces Timing of 2025 Budget Release
Canadian Natural Resources (CNQ) has completed the acquisition of Chevron Canada's Alberta assets, including a 20% interest in the Athabasca Oil Sands Project (AOSP) and a 70% operated interest in Duvernay assets. With this acquisition, CNQ now owns 90% of AOSP, which includes the Muskeg River and Jackpine mines, Scotford Upgrader, and Quest Carbon Capture facility.
The company projects 2025 production from these assets at approximately 122,500 BOE/d, comprising 62,500 bbl/d of Synthetic Crude Oil from AOSP and 60,000 BOE/d from Duvernay (179 MMcf/d natural gas and 30,000 bbl/d liquids). The acquisitions are expected to generate immediate free cash flow and create opportunities for long-term shareholder value. CNQ will release its 2025 Budget details on January 9th, 2025.
Canadian Natural Resources (CNQ) ha completato l'acquisizione delle attività in Alberta di Chevron Canada, inclusa una partecipazione del 20% nel Progetto delle Sabbie Bituminose dell'Athabasca (AOSP) e una partecipazione operativa del 70% negli asset Duvernay. Con questa acquisizione, CNQ ora possiede il 90% di AOSP, che comprende le miniere Muskeg River e Jackpine, l'impianto di raffinazione Scotford e l'impianto di cattura del carbonio Quest.
La compagnia prevede per il 2025 una produzione da queste attività di circa 122.500 BOE/d, composta da 62.500 bbl/d di petrolio grezzo sintetico dall'AOSP e 60.000 BOE/d dagli asset Duvernay (179 MMcf/d di gas naturale e 30.000 bbl/d di liquidi). Si prevede che le acquisizioni generino un immediato flusso di cassa libero e creino opportunità per un valore duraturo per gli azionisti. CNQ pubblicherà i dettagli del proprio Bilancio 2025 il 9 gennaio 2025.
Canadian Natural Resources (CNQ) ha completado la adquisición de los activos de Chevron Canada en Alberta, incluyendo un interés del 20% en el Proyecto de Arenas Petrolíferas de Athabasca (AOSP) y un interés operado del 70% en los activos de Duvernay. Con esta adquisición, CNQ ahora posee el 90% de AOSP, que incluye las minas Muskeg River y Jackpine, la planta de mejoramiento Scotford y la instalación de captura de carbono Quest.
La empresa proyecta para 2025 una producción de estos activos de aproximadamente 122,500 BOE/d, que comprende 62,500 bbl/d de Petróleo Crudo Sintético de AOSP y 60,000 BOE/d de Duvernay (179 MMcf/d de gas natural y 30,000 bbl/d de líquidos). Se espera que las adquisiciones generen un flujo de efectivo libre inmediato y creen oportunidades para un valor a largo plazo para los accionistas. CNQ publicará los detalles de su Presupuesto 2025 el 9 de enero de 2025.
캐나디안 내추럴 리소스 (CNQ)는 셰브론 캐나다의 알버타 자산 인수를 완료했습니다. 여기에는 아타바사카 오일 샌드 프로젝트(AOSP)에서 20% 지분과 두베르네 자산에서 운영 지분 70%가 포함됩니다. 이번 인수로 CNQ는 이제 AOSP의 90%를 소유하게 되었으며, 여기에는 머스케그 리버 및 잭파인 광산, 스코트포드 업그레이더, 퀘스트 탄소 포집 시설이 포함됩니다.
회사는 2025년 이러한 자산에서 약 122,500 BOE/d의 생산을 예상하고 있으며, 여기에는 AOSP에서의 62,500 bbl/d의 합성 원유와 두베르네에서의 60,000 BOE/d (179 MMcf/d의 천연가스와 30,000 bbl/d의 액체)가 포함됩니다. 인수는 즉각적인 자유 현금 흐름을 생성하고 장기적으로 주주 가치를 창출하는 기회를 제공할 것으로 예상됩니다. CNQ는 2025년 예산 세부사항을 2025년 1월 9일에 발표할 예정입니다.
Canadian Natural Resources (CNQ) a finalisé l'acquisition des actifs de Chevron Canada en Alberta, y compris une participation de 20 % dans le Projet des Sables Bitumineux d'Athabasca (AOSP) et une participation opérationnelle de 70 % dans les actifs de Duvernay. Avec cette acquisition, CNQ possède désormais 90 % de l'AOSP, qui comprend les mines Muskeg River et Jackpine, l'usine de valorisation Scotford et l'installation de capture du carbone Quest.
L'entreprise prévoit une production en 2025 à partir de ces actifs d'environ 122 500 BOE/j, comprenant 62 500 bbl/j de pétrole brut synthétique provenant de l'AOSP et 60 000 BOE/j de Duvernay (179 MMcf/j de gaz naturel et 30 000 bbl/j de liquides). Les acquisitions devraient générer un flux de trésorerie libre immédiat et créer des opportunités de valeur pour les actionnaires à long terme. CNQ publiera les détails de son budget 2025 le 9 janvier 2025.
Canadian Natural Resources (CNQ) hat die Akquisition der Alberta-Aktivitäten von Chevron Canada abgeschlossen, einschließlich einer 20%igen Beteiligung am Athabasca Oil Sands Project (AOSP) und einer 70%igen Betriebsbeteiligung an den Duvernay-Vermögenswerten. Mit dieser Akquisition besitzt CNQ nun 90% von AOSP, zu dem die Muskeg River- und Jackpine-Minen, die Scotford-Upgrader und die Quest Carbon Capture-Anlage gehören.
Das Unternehmen prognostiziert für 2025 eine Produktion aus diesen Vermögenswerten von etwa 122.500 BOE/d, die sich aus 62.500 bbl/d synthetischem Rohöl aus AOSP und 60.000 BOE/d aus Duvernay (179 MMcf/d Erdgas und 30.000 bbl/d Flüssigkeiten) zusammensetzt. Es wird erwartet, dass die Akquisitionen sofortige freie Cashflows generieren und Möglichkeiten für langfristigen Aktionärswert schaffen. CNQ wird seine Details zum Budget 2025 am 9. Januar 2025 veröffentlichen.
- Increased ownership in AOSP to 90%, strengthening position in oil sands
- Expected production addition of 122,500 BOE/d in 2025
- Immediate free cash flow generation from acquired assets
- Acquisition includes strategic assets: Muskeg River and Jackpine mines, Scotford Upgrader, and Quest Carbon Capture facility
- None.
Insights
The acquisition of Chevron's Alberta assets marks a significant strategic expansion for Canadian Natural Resources. The deal adds 122,500 BOE/d to CNQ's production portfolio, with 62,500 bbl/d coming from stable SCO production at AOSP and 60,000 BOE/d from the Duvernay assets. By increasing its AOSP ownership to
The Duvernay assets provide valuable diversification with both natural gas and liquids production. The immediate free cash flow generation from these assets will enhance CNQ's already robust financial position. The timing is strategic, as natural gas prices are expected to strengthen with increasing LNG export capacity. This acquisition aligns with CNQ's track record of acquiring quality assets at favorable valuations and efficiently integrating them into their operations.
The strategic significance of this acquisition extends beyond production numbers. By controlling
The Duvernay assets represent a high-quality addition to CNQ's portfolio, with 179 MMcf/d of natural gas and 30,000 bbl/d of liquids. The
Calgary, Alberta--(Newsfile Corp. - December 6, 2024) - Canadian Natural Resources Limited (TSX: CNQ) (NYSE: CNQ) ("Canadian Natural" or the "Company") announces it has completed the acquisition of Chevron Canada Limited's ("Chevron") Alberta assets, which include a
The Company targets 2025 production from these acquired assets to be approximately 122,500 BOE/d(1), consisting of 62,500 bbl/d of long life no decline Synthetic Crude Oil ("SCO") at AOSP and approximately 60,000 BOE/d from the Duvernay, comprised of 179 MMcf/d of natural gas and 30,000 bbl/d of liquids. Both acquisitions provide Canadian Natural with immediate free cash flow generation and further opportunities to drive long-term shareholder value.
Canadian Natural welcomes the Chevron employees that will be joining as part of the acquisitions to its Field and Calgary head office teams.
With the closing of these acquisitions, the Company is now finalizing its 2025 Budget. Canadian Natural will release its 2025 Budget details and host a conference call at 7:00am MST on January 9th, 2025. Further details of the conference call will be provided on our website.
Canadian Natural is a senior crude oil and natural gas production company, with continuing operations in its core areas located in Western Canada, the U.K. portion of the North Sea and Offshore Africa.
CANADIAN NATURAL RESOURCES LIMITED
T (403) 517-6700 F (403) 517-7350 E ir@cnrl.com
2100, 855 - 2 Street S.W. Calgary, Alberta, T2P 4J8
www.cnrl.com
SCOTT G. STAUTH
President
MARK A. STAINTHORPE
Chief Financial Officer
LANCE J. CASSON
Manager, Investor Relations
Trading Symbol - CNQ
Toronto Stock Exchange
New York Stock Exchange
(1) All Production and Reserves are presented on a "before royalties" basis and reflect Canadian Natural estimates.
Certain information regarding the Company contained herein may constitute forward-looking statements under applicable securities laws. Such statements are subject to known or unknown risks and uncertainties that may cause actual results to differ materially from those anticipated or implied in the forward-looking statements. Refer to our website for complete forward-looking statements. www.cnrl.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/232786
FAQ
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