Top 10 Large Exploration and Production Companies in Canada in 2021 by Reserves

Canadian Natural Resources Ltd, Cenovus Energy Inc, Suncor Energy Inc, Imperial Oil Ltd, and Ovintiv Inc are the top 5 exploration and production (E&P) companies in the world in 2021 by reserves. In total, the top 10 companies had reserves of 29,256 MMboe in 2021, where Canadian Natural Resources Ltd had the largest with 11,228 MMboe, followed by Cenovus Energy Inc with 4,420 MMboe, while Peyto Exploration & Development Corp had the lowest with 495 MMboe. The top 10 E&P companies employed a total of 41,124 people in 2021. Canada-based Canadian natural resources ltd is the leading exploration & production company in the world by reserves. The company reported revenues of $23,978 million for the fiscal year ended December 2021 (FY2021), an increase of 77.9% over FY2020. It is an independent upstream oil and gas company. It carries out the acquisition, exploration, development, production, marketing, and sale of crude oil, natural gas, and natural gas liquids (NGLs), medium crude oil and NGLs, primary heavy crude oil, Pelican Lake heavy crude oil, bitumen (thermal oil), synthetic crude oil (SCO) and natural gas. The company had reserves of 11,228 MMboe for the year 2021. with employees of 9,735 people. Canada-based Cenovus Energy Inc is another leading exploration & production company in the world by reserves. The company reported revenues of $36,982 million for the fiscal year ended December 2021 (FY2021), a growth of 250.47% as compared to the revenues of FY2020. Cenovus is an integrated oil and gas company, that develops oil sand projects in northern Alberta, Canada. It also has a land base with significant production in the Deep Basin in Alberta and British Columbia. The company also conducts marketing and owns a 50% interest in two refineries in the US.