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) > WOW

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Comment by kavern23on Mar 18, 2021 12:18pm

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Post# 32826321

RE:RE:RE:WOW

And it hasnt\'t even been a full year of lower USA drilling rigs.

USA drilling rigs were going flat out until like MArch 27th of 2020.
The big fall off happened afterwards.

Lots of the shale wells tied in during 2019 and early 2020 will really start to show declines by June of this year.

A time lag. The under spending in 2020 doesnt show up instantly in production drop offs.

Q2 and on in 2021 will be very difficult for companies production wise.

USA companies have to show optimistic production numbers...gotta get the investors to keep stock prices up...

But are these production forecasts really reality....time will tell.