Canadian Natural Resources (CNQ) in Talks to Acquire Natural Gas Properties from Tourmaline

Canadian Natural Resources Limited (NYSE:CNQ) is included among the 11 Best Energy Stocks to Buy for Dividends in 2026.

Canadian Natural Resources Limited (NYSE:CNQ) is a senior crude oil and natural gas production company, with continuing operations in its core areas located in Western Canada, the UK portion of the North Sea, and offshore Africa.

According to reports on January 14, Canadian Natural Resources Limited (NYSE:CNQ) is in talks to acquire a $1-billion-plus portfolio of natural gas properties in Alberta from Tourmaline Oil. Tourmaline is among the biggest natural gas producers in Canada’s Montney Basin shale play, which produces around 10 bcf/d of natural gas, or roughly half of the country’s output. The basin has recently garnered significant interest following the launch of the LNG Canada export terminal in British Columbia last year.

Canadian Natural Resources Limited (NYSE:CNQ) witnessed a sharp downturn earlier this month following the US action in Venezuela, as it significantly increased the prospects of the US Gulf Coast refiners shifting from Canadian to Venezuelan crude, since the two are similar. Additionally, there have also been concerns that the cheaper Venezuelan oil pouring into the US would push down the price that American buyers pay to Canadian producers, driving down margins and profits. However, the stock has recovered since then as markets came to the realization that it will still take much time and investment, as well as some much-needed political stability, for Venezuelan crude to enter the United States.

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Disclosure: None.