Canadian Natural Resources Limited Announces 2026 Second Quarter Results

Calgary, Alberta--(Newsfile Corp. - August 6, 2026) - Canadian Natural's (TSX: CNQ) (NYSE: CNQ) President, Scott Stauth, commented on the Company's second quarter results, "We had a very strong 2026 second quarter, reflecting our continued focus on operational excellence, capital efficiency and continuous improvement, which drove eight new operational and financial records in the quarter. An example of this performance was achieved in our world class Oil Sands Mining and Upgrading operations, where we experienced challenging weather elements, like other oil sands operations; however, our team successfully managed these challenges allowing the Company to exceed our budgeted production levels in the quarter, resulting in the highest quarterly oil sands mining production in its history, averaging approximately 625,000 bbl/d in Q2/26, with high upgrader utilization of 106%. These world class assets provide high-value Synthetic Crude Oil ("SCO"), which captured robust pricing in Q2/26, with the SCO premium to WTI averaging US$8.37/bbl in the quarter, and when combined with industry leading low operating costs of $22.19/‍bbl (US$16.03/bbl), resulted in the highest Oil Sands Mining and Upgrading per barrel netback ever achieved by the Company, during a quarter, at approximately $78.00/bbl.