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) > OPEC+ extends deep oil production cuts into 2025

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Comment by VeritasVernon Jun 03, 2024 11:12am

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Post# 36069301

RE:OPEC+ extends deep oil production cuts into 2025

We have seen this before - after an OPEC+ meeting where they extend production cuts the oil market declines sharply. The fact that WTI is down more than 3.1% it appears as if intended to send a message that someone other than OPEC+ will dictate prices. Clearly OPEC news is supportive of holding prices so this seem contrary to basic fundamentals

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