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) > Limited damage according to Iran?

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Comment by Quintessential1on Oct 28, 2024 6:19pm

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Post# 36285882

RE:RE:RE:RE:RE:RE:RE:Limited damage according to Iran?

In Q2 they paid down some debt so its possible they are breaking even this quarter even at lower oil prices especially since production tends to increase later in the year as sustaining cap-ex is also lower having the bulk of it spent earlier in the season.

Regardless they have intentionally added to their credit facility in order to fund the dividend, cap-ex and SAGD until Reford commisions and increases production then allowing them to fund Kelford (if they decide to green light it) and fund sustaining cap-ex and the dividend while hopefully starting to reduce debt as SAGD ramps up.

We'll know for sure what they're paying out Nov 7.

GLTY and all