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Calgary, Alberta – Commenting on the Company’s 2020 results, Tim McKay, President of Canadian Natural ( TSX: CNQ ) ( NYSE: CNQ ) stated “The impact of the COVID-19 pandemic effected the very way we conducted our lives and the way we operated our businesses. Through the year we took protocols to protect our stakeholders and would like to thank our employees, contractors, suppliers and shareholders for their support through this challenging year. Despite the challenges of COVID-19 in 2020, the Company had a strong year operationally and financially as the Company’s effective and efficient operations and long life low decline asset base proved their robustness in this challenging year. We were nimble in 2020, quickly lowering capital with minimal impact to annual production as we stayed within the Company’s original production guidance range, effectively managing through a volatile commodity price environment and low crude oil demand. This was achieved through the commitment and hard work of our employees, who were rewarded with no economic layoffs due to the impacts of COVID-19. In 2020 the Company generated strong adjusted funds flow while effectively allocating to the Company’s four pillars of capital allocation; balance sheet strength, returns to shareholders, resource […]
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