Steve Laut

President & Chief Operating Officer- Canadian Natural Resources

As Canadian Natural Resources Ltd.'s chief operating officer, Steve Laut was a key player in stickhandling the company's massive $10.8-billion Horizon Oil Sands project through five years of planning, regulatory hurdles and shareholder approval. Convincing investors might have been the easiest task as the company announced record production, revenues and profits for fiscal 2004, which led to an increased dividend and a two-for-one stock split after shares more than doubled in value during the year. Once built in 2008, Horizon will add 110,000 barrels per day to the production capacity of Calgary-based Canadian Natural, now the country's second largest independent oil producer. The company also increased its presence in the heavy-oil business by purchasing a 66% stake in Petrovera Resources in February 2004. As a reward, Laut was named Canadian Natural's president in May 2005 as well as earning $6.7 million in salary and exercised stock options in 2004.