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) > Another good day for Carling

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Comment by drdrabon Aug 06, 2022 12:06pm

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Post# 34876340

RE:RE:Another good day for Carling

Gear does have hedges, unless I missed where they bought them out. Gears future hedges are as follows and have been structured to capture as much upside in a commodity price recovery as possible with the use of wide collars and put spreads. Q1 2022 Q2 2022 Q3 2022 Q4 2022 2023 Volume (bbl/d) 2,400 2,400 2,400 1,200 Type WTI 3-way collar WTI put spread WTI 3-way collar WTI 3-way collar N/A Pricing (C$/bbl) 50 x 62.50 x 86 50 x 62.50 premium of $2.32 50 x 62.50 x 116.50 50 x 65 x 120 N/A

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