Canadian Natural Resources Limited, an independent energy company, engages in the acquisition, exploration, development, production, marketing and sale of crude oil, natural gas, and natural gas liquids (NGLs). The company’s principal core regions of operations are western Canada, the United Kingdom (U.K.) sector of the North Sea; and CÔte d’Ivoire, Gabon, and South Africa in Offshore Africa. Its natural gas and NGL production is located in the Canadian provinces of Alberta, British Columbia and Saskatchewan and is marketed in Canada and the U.S. The company’s Midstream assets also include a 50% interest in the North West Redwater Partnership. As of December 31, 2014, the company’s gross proved crude oil, bitumen (thermal oil), synthetic crude oil, and NGL reserves totaled 4,511 million barrels; and gross proved plus probable crude oil, bitumen (thermal oil), synthetic crude oil, and NGL reserves totaled 7,535 million barrels. The company’s gross proved natural gas reserves totaled 6,001 billion cubic feet; and gross proved plus probable natural gas reserves totaled 8,138 billion cubic feet. Northeast British Columbia Significant geological variation extends throughout the productive reservoirs in this region located west of the British Columbia and Alberta border to Prince George, British Columbia, producing light and medium crude oil, natural gas and NGLs. Crude oil reserves are found primarily in the Halfway formation, while natural gas and associated NGLs are found in various carbonate and sandstone formations at depths approximately 4,500 vertical meters. Northwest Alberta This region is located along the border of British Columbia and Alberta west of Edmonton, Alberta. The majority of the company’s initial holdings in the region are obtained through the acquisition of Rio Alto Exploration Ltd. and Anadarko Canada Corporation. The Anadarko Canada Corporation acquisition added two prospective properties to this region, Wild River and Peace River Arch. The Wild River assets provide a premium land base in the deep basin, multi-zone gas fairway; and the Peace River Arch assets provide premium lands in a multi-zone region along with major infrastructure. During 2013, in connection with the acquisition of Barrick Energy Inc., the company acquired light crude properties, together with facilities and unproved land. During 2014, the company acquired additional production and land in the area. Northwest Alberta provides exploration and exploitation opportunities in combination with an owned and operated infrastructure. In this region, the company produces liquids rich natural gas from multiple, technically complex horizons, with formation depths ranging from 700 to 4,500 meters. The northern portion of this core region provides multi-zone opportunities similar to the geology of the company’s Northern Plains core region. The company is also pursuing development of shale gas plays in this region. The southern portion provides exploration and development opportunities in the regionally extensive Cretaceous Cardium formation and in the deeper, tight gas formations throughout the region. The south western portion of this region also contains Foothills assets with natural gas produced from the deep Mississippian and Triassic aged reservoirs. Northern Plains This region extends just south of Edmonton, Alberta and north to Fort McMurray, Alberta and from the Northwest Alberta region into western Saskatchewan. Natural gas in this region is produced from shallow, low-risk, multi-zone prospects. The company targets low-risk exploration and development opportunities and some shale gas exploration in this area. During 2014, the company acquired additional production and land in the area. The company’s holdings in this region of primary heavy crude oil production are the result of Crown land purchases and acquisitions. Included in this area is the 100% owned ECHO Pipeline system, which is a high temperature, insulated crude oil transportation pipeline that eliminates the requirement for field condensate blending. The pipeline, which has a capacity of approximately 78,000 barrels per day, enables the company
canadian natural resources (CNQ:Toronto)
2500, 855 - 2 Street S.W.
Calgary, AB T2P 4J8
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