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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 divime1on Nov 04, 2021 8:42pm
302 Views
Post# 34089864

Hedges

HedgesFrom a risk management perspective, for the remainder of 2021, including the hedges acquired through the Venturion acquisition, Cardinal's hedged average volume decreases significantly from 23% in the third quarter to approximately 11% of its forecasted oil production or 2,250 bbl/d.  Approximately 60% of the Company's natural gas is hedged at $2.64/gj for the fourth quarter of 2021.  The Company remains unhedged moving into 2022. 
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