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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 forecast123on Jan 12, 2018 12:53pm
215 Views
Post# 27343138

response from VP Finance(Lawrence Broos) on WCS impact to CJ

response from VP Finance(Lawrence Broos) on WCS impact to CJBelow is a reply from their VP Finance on Jan 12 2018: Q: I heard somewhere that CJ in 2018 will be 50/50 in light oil/medium oil. Light oil is sold at WTI price, so the negativity of CJ SP dragged down or stale by WCS is wrongfooted. Medium oil is sold a few dollars above WCS which is still below WTI price, so the negativity of CP SP dragged down by WCS is valid but exaggerated. A: Your point is correct. Q: Does CJ hedge its medium oil a price ? Is the price hinged to WCS price: A: We do hedge the differential between WTI and WCS. For Dec, we had ~ 9000 bbl/d hedged at a differential of $19 CAD and currently have ~ 5000 bbl/d hedged at about the same. So the impact to cash flow from recent widening of the WTI-WCS differential has been greatly mitigated at Cardinal.
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