Canadian Natural Resources posts record Q1 2026 production and $1.5B shareholder returns

Record output and soaring profits mark a standout quarter for the energy giant. Discover how operational efficiency drove $2.4B in net earnings.

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2026 May 7 . 2:16 PM

1 min read

The image shows a graph depicting corporate profits before and after taxes. The graph is... — The image shows a graph depicting corporate profits before and after taxes. The graph is accompanied by text that provides further information about the data.

Canadian Natural Resources posts record Q1 2026 production and $1.5B shareholder returns

Canadian Natural Resources Limited has reported strong first-quarter results for 2026. The company saw a 4% rise in total production compared to the same period last year. Shareholders also received a significant return of around $1.5 billion during the quarter. In Q1 2026, the company’s total production averaged approximately 1,643,000 barrels of oil equivalent per day (BOE/d). This included record output from its North American Exploration & Production (E&P) division, which reached about 773,000 BOE/d.

The Oil Sands Mining and Upgrading segment performed particularly well, with April production hitting roughly 630,000 barrels per day (bbl/d). Operating costs for Synthetic Crude Oil (SCO) in this division were $23.73 per barrel. Overall liquids production for the quarter averaged around 1,198,000 bbl/d, with 66% consisting of SCO, light crude oil, and natural gas liquids (NGLs). Financially, the company posted adjusted net earnings of $2.4 billion, or $1.17 per share. Adjusted funds flow reached $4.4 billion, equivalent to $2.10 per share. President Scott Stauth commented on the results, highlighting the company’s continued growth and operational efficiency.

The quarter’s performance reflects both increased production and strong financial returns. With record output in key divisions and cost-efficient operations, the company has reinforced its position in the energy sector. Shareholders benefited directly from a $1.5 billion payout, underlining the company’s commitment to delivering value.