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 GoldenArm1on Jun 03, 2024 2:08pm

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Post# 36069733

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

Yes in a way you are correct. They stopped in July 2023 (346M barrels) but since then they have added only 23M barrels of oil to the reserve in 9 months.

Given that they are stealing Syrian oil and selling it as well as other oil they have taken in the middle east to beat down the price of oil, the point that needs to be made is that 300M barrels will need to be replaced but it won't happen this year.

I expect prices to rise.

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