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.

TSX:CJ - Post by User

Cardinal Energy Ltd (Alberta) > Algorithmic traders amplify crude price rout:

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Comment by Quintessential1on Jun 04, 2024 4:03pm

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Post# 36071876

RE:Algorithmic traders amplify crude price rout:

Interesting pick up thanks for posting. Who had CTAs on their bingo card for the large price drop?

"CTAs are currently estimated to be net short in Brent by about 36% compared to being net long by 27% at the end of last week, according to the Bridgeton data. In WTI, they are similarly bearish and are about 54% net short compared to 9% net short last week."

The good news is they can't short forever and will have to cover eventually. Perhaps tomorrow with a favourable EIA report.

GLTA