Cardinal Energy Ltd (Alberta) T.CJ

Alternate Symbol(s): CRLFF

Energy Oil & Gas E&P

Cardinal Energy Ltd. is a Canadian oil and natural gas company with operations focused on low decline oil in Western Canada. The Company is engaged in the acquisition, development, optimization and production of crude oil 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. Its Midale operating area of over 730 million barrels of original oil in place (OOIP) and its low decline in production of 3,200 barrels of oil equivalent per day (boe/d) (net) is supported by both waterflood and CO2 enhanced oil recovery. 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 OOIP pools. Its North area includes Grande Prairie, Clearwater and other properties.

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Cardinal Energy Ltd (Alberta) > I expect a divvy increase Q3

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Comment by sclardaon Aug 24, 2022 8:58pm

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Post# 34918644

RE:RE:RE:RE:RE:RE:RE:I expect a divvy increase Q3

steve957 wrote

well how do you know that production is not up from last quarter, I would suspect the increased capex will allow them to keep increasing production !!

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$6 million of the increased capex was for inlationary costs. The rest was for a new pipeline and drilling some more wells. This all takes time and there wont be much production increase until late this year or early next year. CJ also has a 10% yearly production decline so some of this increased capex will likely cover the natural production declines.

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