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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

Post by tinkvidon Aug 16, 2024 10:19am
181 Views
Post# 36182441

Cardinal Energy

Cardinal EnergyThe company is more efficient each quarter on relatively flat production and paying down debt with growth initiatives.. Maybe Cenouvus Sniffing around or some other Pirahna.

Net debt(1) reduction - 25%
Decreased net debt by 17% over the prior quarter to close the second quarter at $99.2 million leading to a net debt to adjusted funds flow ratio(1) of 0.4x. At the end of the second quarter, Cardinal was drawn 39% on its recently expanded $200 million credit facility

Cardinal realized oil prices increased 17%


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