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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.


TSX:CJ - Post by User

Cardinal Energy Ltd (Alberta) > 2nd quarter thoughts?
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Comment by Quintessential1on Jul 13, 2023 4:16pm
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Post# 35540071

RE:RE:RE:2nd quarter thoughts?

RE:RE:RE:2nd quarter thoughts?

WTI crude futures edged down to below $75.5 per barrel on Thursday, down from a 2-month high as investors digest the latest market oil outlook from EIA and OPEC. The IEA lowered its global oil demand growth forecast by 220,000 barrels per day to 2.2 million barrels per day in 2023. Meanwhile, OPEC maintained a positive outlook on world oil demand, raising its growth forecast for 2023 and predicting a slight slowdown in 2024, driven by strong fuel consumption in China and India. It expects oil demand to increase by 2.25 million bdp in 2024, up from 2.44 million bpd in 2023. Despite output cuts, OPEC's oil production rose by 91,000 bpd to 28.19 million bpd in June, led by Iran and Iraq. Oil has been trending higher recently as cooler-than-expected US inflation numbers raised hopes that the Federal Reserve may be nearing the end of its rate-hiking cycle. Also, China's crude imports surged to the highest in three years, underscoring robust demand despite signs of a wider economic slowdown.


https://tradingeconomics.com/commodity/crude-oil



GLTY and all
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