Canadian Natural posted Q2 net earnings of CAD 4.5 billion, up 83% from Q2 2025, as adjusted net earnings hit a record CAD 4.6 billion.
Adjusted funds flow reached a record CAD 6.9 billion, while total production climbed 18% year over year to 1,677,000 BOE/d.
Oil sands mining and upgrading output rose 35% to 625,000 bbl/d, with 106% upgrader utilization; SCO premium to WTI averaged USD 8.37/bbl.
Shareholder returns totaled about CAD 4 billion, including CAD 1.3 billion in dividends; net debt fell to CAD 14.5 billion at June 30.
Canadian Natural raised 2026 production guidance to 1,637-1,682 MBOE/d after a CAD 761 million Peace River acquisition; operating capital held near CAD 6 billion.
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