Calgary-based independent Canadian Natural Resources Ltd. made a strategic decision to ramp up its substantial natural gas portfolio last year, which resulted in a 23% increase in output year/year.

“For North American operations, 2022 annual natural gas production was 2.08 Bcf/d, versus the 1.68 Bcf/d for 2021, up almost 395 MMcf/d,” said President Tim McKay during the company’s year-end earnings call. 

The gains primarily a “result of the company’s strategic decision to invest in liquid-rich natural gas areas through our drill-to-fill strategy, adding low cost, high value liquid-rich gas production, as well as opportunistic acquisitions completed in late 2021 and early 2022.”

During 4Q2022, North American natural gas production rose to 2.1 Bcf/d from the...