CANADIAN NATURAL RESOURCES Ltd
Close on Nov 2, 2026Market cap $111.66BP/E 14.5Yield –
Canadian Natural Resources Exploration & Production Operating Netback by Year
Exploration & Production (E&P) Operating Netback (C$/BOE) ($)
Canadian Natural Resources Exploration & Production Operating Netback: $24.36 in 2025, down 3.9% from a year earlier.
Where the 2025 figure comes from
“|| Netback (2) | $ | 22.48 | $ | 21.90 | $ | 25.10 | $ | 24.36 | $ | 25.35”
Source: Canadian Natural Form 6-K, filed 2026-03-06 ↗
Reported in SEC Form 6-K & Form 40-F.
Annual history
Hover a value to see the sentence it was read from; calculated values show their formula
| Period | Ended | Exploration & Production (E&P) Operating Netback (C$/BOE) ($) | Year on year | Source |
|---|---|---|---|---|
| 2025 | Dec 31, 2025 | 24.36 | -3.9% | Canadian Natural Form 6-K, filed 2026-03-06 ↗ |
| 2024 | Dec 31, 2024 | 25.35 | -3.1% | Canadian Natural Form 6-K, filed 2026-03-06 ↗ |
| 2023 | Dec 31, 2023 | 26.15 | -34.4% | Canadian Natural Form 6-K, filed 2025-03-06 ↗ |
| 2022 | Dec 31, 2022 | 39.84 | +40.9% | Canadian Natural Form 6-K, filed 2024-02-29 ↗ |
| 2021 | Dec 31, 2021 | 28.27 | +178.5% | Canadian Natural Form 6-K, filed 2023-03-02 ↗ |
| 2020 | Dec 31, 2020 | 10.15 | -53.4% | Canadian Natural Form 6-K, filed 2022-03-03 ↗ |
| 2019 | Dec 31, 2019 | 21.78 | +38.9% | Canadian Natural Form 6-K, filed 2021-03-04 ↗ |
| 2018 | Dec 31, 2018 | 15.68 | -10.6% | Canadian Natural Form 6-K, filed 2020-03-05 ↗ |
| 2017 | Dec 31, 2017 | 17.53 | +49.2% | Canadian Natural Form 40-F, filed 2018-03-22 ↗ |
| 2016 | Dec 31, 2016 | 11.75 | -18.9% | Canadian Natural Form 40-F, filed 2018-03-22 ↗ |
| 2015 | Dec 31, 2015 | 14.49 | – | Canadian Natural Form 40-F, filed 2018-03-22 ↗ |
Breakdown
What makes up exploration & Production Operating Netback
- E&P Consolidated Realized Price — Before Transportation (C$/BOE)47.98 · 2025
- Less: E&P Transportation Expense (C$/BOE)5.54 · 2025
- E&P Realized Price — Net of Transportation (C$/BOE)42.44 · 2025
- Less: E&P Royalties (C$/BOE)6.90 · 2025
- Less: E&P Production Expense (C$/BOE)11.18 · 2025
- E&P Depletion, Depreciation & Amortization (C$/BOE)13.07 · 2025
- E&P Asset Retirement Obligation Accretion (C$/BOE)0.80 · 2025
- Corporate Administration Expense (C$/BOE)1.07 · 2025
Cite this data
StockData. (2026). Canadian Natural Resources Exploration & Production Operating Netback ($), annual 2015–2025 [Data set]. Compiled from Canadian Natural Resources SEC filings and investor materials. https://stockdatahq.com/stocks/cnq/kpis/ep-boe-netback
See every metric in the Canadian Natural Resources KPI table. Data updated Oct 31, 2026.