Cardinal Energy Ltd (Alberta) T.CJ

Alternate Symbol(s): CRLFF

Energy Oil & Gas E&P

Cardinal Energy Ltd. is an oil and gas company with operations focused on low decline oil in Western Canada. It is engaged in the acquisition, exploration and production of petroleum and natural gas in the provinces of Alberta, British Columbia, and Saskatchewan. Its operating areas include the Midale, South District, Central District, and North District. It has over 730 million original oils in place (OOIP) and its low decline production of approximately 3,200 barrels of oil equivalent per day (boe/d) is supported by both water and carbon dioxide (CO2) enhanced oil recovery (EOR). Its South District operating area is located east of Calgary in southeastern Alberta and produces medium gravity crude, as well as liquids-rich natural gas. Its Central District operation is located in East Central Alberta, which is focused on producing oil from multiple, large original oil in place (OOIP) pools. Its North area includes Grande Prairie, Clearwater, House Mountain, Mica, and Mitsue properties.

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Cardinal Energy Ltd (Alberta)

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Post by alhiemstraon Jan 18, 2024 11:57am

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Post# 35833774

ATB Capital Markets Outperform @ $8.50

ATB Capital Markets analyst Amir Arif trimmed his estimates across the Oil sector to reflect a reduced outlook for oil prices

Cardinal Energy Ltd. “outperform” to $8.50 from $9.50. Average: $8.83.

“For investors who are looking for higher beta oil names, CJ offers one of the better names with an attractive current yield of 11 per cent which we view as sustainable to US$60-65 WTI,” he said.

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Advancing an underexplored area of the Yukon with the same geology as B.C’.s Golden Triangle