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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) > credit line increase for the second time
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Comment by rockman999on Dec 13, 2024 9:08am
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Post# 36360665

RE:RE:RE:RE:credit line increase for the second time

RE:RE:RE:RE:credit line increase for the second timeI agree. At the present oil price it looks like they would be approx. $60M short of funds to complete the SAGD. So they either had to cut the dividend or source more funds. The increased credit line looks like it makes the dividend safe for now, unless the price of oil drops further or SAGD costs increase.

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