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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

Comment by GoldenArm1on Jun 03, 2024 11:38am
160 Views
Post# 36069370

RE:RE:OPEC+ extends deep oil production cuts into 2025

RE:RE:OPEC+ extends deep oil production cuts into 2025You forget one thing. The US under FJ Biden, has been using it's own reserves to combat inflation so Biden can win the election.

Price of oil in Spot market is kept in check but in reality the US Strategic reverses are taking a big hit.

This OPEC cut is going to keep the US reserves going down which weakens US dependancy on foreign oil. At it's peak, under Biden, it was 656M BBL now down to 369M BBL at the end of May.

Opec cuts weakens US reserves. If Democrats don't win the election the reserves may not be depleted any further (perhaps) under Trump. Then crude will increase in price and the US inflation will go higher and interest rates will go up; unless OPEC+ increases production to keep prices where they like them to be.

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