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)

Bullboard Posts

Comment by emmitton Nov 12, 2019 11:49am

127 Views

Post# 30340189

RE:RE:RE:RE:The results look fine to me

I don't think you will see debt increase in Q4, as there will be a decrease in Capex spending in the quarter. I still think they have the ability to decrease net debt under 240 million by the end of 2019. 2020 should see an increase in take away capacity which will shrink the differential. I still like the outlook for 2020 and beyond.

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