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Cardinal Energy Ltd (Alberta) T.CJ

Alternate Symbol(s):  CRLFF

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.


TSX:CJ - Post by User

Post by Bennys65on Feb 22, 2017 6:24am
144 Views
Post# 25875682

oil inventories

oil inventoriesGo to Phil Flynn energy report and look at feb 21 update.Almost all the excess inventory can be explained due to storage and pipeline fills brought on by mlps in recent years.Unlike oil on tankers coming by sea this which is not counted until it is unloaded this oil in it present status cant be used but is swelling inventories.Refinery inventories the one that counts is modestly higher.EIA when asked says this is an accounting issue.Doesnt make things clearer but suggests that the US oil glut may be a result of how  the eia accounts for these barrels which cant be used for another 40-60 days. 
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