Canadian Natural Resources Limited (NYSE:CNQ) Q4 2023 Earnings Call Transcript

Scott Stauth: Yes, you bet you, Dennis. So from solvent opportunity perspective, essentially what you’re doing is reducing your steam requirements by about half. So as you look and we go through this project, and we see the results that we’re expecting. And again, we’re going to monitor that, and it’s just going to be starting up in terms of the solvent injection in Q2 here. But we’ll monitor as we go forward. But it gives us, if it’s successful, like we believe it will be, then it gives us success in — or gives us the opportunity in the Jackfish and Kirby areas to continue with more pad development and not necessarily having to increase the capital to build more steam facilities. So the advantage there is lower overall capital and better capital efficiency for drilled fill opportunities.

Dennis Fong: Great. So maybe the thought process behind that then is that could be leveraged to showcase additional growth or redeploy this team to other regions within that project or those specific projects?

Scott Stauth: That’s right, yes.

Operator: Thank you. There are no further questions at this time. I will now hand the call back to Lance Casson for the closing remarks.

Lance Casson: Thank you, operator, and thanks, everyone, for joining us this morning. If you have any follow-up questions, please give us a call. Thanks, and have a great day.

Operator: Thank you. Ladies and gentlemen, the conference has ended. Thank you all for joining. You may all disconnect.