Cardinal Estimated Q1 ProductionI ran March last night for Cardinal.
This is only Alberta oil production...does not include Sask Oil (but 3,000 BOE is a safe assumption) and does not include NG or NGL's.
Hopefully this chart pastes in a good format:
| | Dec (Boe) | Jan (Boe) | Feb | March |
| Cardinal Alberta Well Count | 1251 | 1265 | 1278 | 1281 |
| Top Ten Wells (Combined Prod) | 1670 | 1536 | 1404 | 1388 |
| Average Oil Production (Boe) | 12594 | 12526 | 12308 | 12555 |
This is an estimate only as I can not tell JV stuff but CJ should have little joint venture stuff.
But what it allows me to do is get a trend on production.
Cardinal has turned on 30 extra wells since December and that basically has covered declines.
I like looking at the top ten wells as these is part of the production that will have steepest decline. Looking good. CJ has a top well humming at 294 barrels of oil...it actually increased since Feb.
I am estimating Q1 production to be 18,300 BOE (+- 300 Boe).
Note: if natural gas production crashed I could be wrong but that is unlikely that NG crashed other then Feb may have had some freeze offs.
Key thing is we are slightly ahead of the production numbers the budget was based on 17,750 BOE.