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) > Divy increase

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Comment by Divyproon May 09, 2024 8:30pm

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Post# 36032548

RE:RE:RE:Divy increase

Anybody looking for a divy increase is dreaming until 2026. As far as the 116% payout ratio, it is fine due to the limited capex in q2 and they have excellent drilling results from q1. They also reduced their 2024 capex budget so debt will be reduced throughout 2024 as long as oil prices stay up. Fantastic q1 results in my opinion.

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