Canadian Natural Resources Ltd. (CNRL) plans to increase its oil and gas production by 12% in 2025, driven by the acquisition of Chevron Canada Ltd.'s assets. The company aims for an average production of 1.51-1.55 million barrels of oil equivalent per day.
Oil and gas giant Canadian Natural Resources Ltd. says it plans to boost its overall production by 12 per cent in 2025. The Calgary-based company says it is targeting average annual production of between 1.51 million and 1.55 million barrels of oil equivalent per day in 2025, which represents production growth of about 170,000 barrels per day compared with 2024. CNRL says the growth is in part due to its previously announced US$6.5-billion acquisition of Chevron Canada Ltd.
's interests in the Athabasca Oil Sands Project and Duvernay shale, which was completed in 2024. CNRL says its operating capital budget for 2025 is set at approximately $6 billion, up from its 2024 forecast of $5.42 billion.It also continues to work on increasing production at its Horizon oilsands site and at the Athabasca Oil Sands Project
OIL PRODUCTION ENERGY CANADA CNRL ACQUISITION CHEVRON
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