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Bullboard - Stock Discussion Forum 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... see more

TSX:CJ - Post Discussion

Cardinal Energy Ltd (Alberta) > The Market Hates CJ This Morning
View:
Post by bonjovi501 on Jul 29, 2021 10:05am

The Market Hates CJ This Morning

only red oil stock on my screen and down 4% so looks like the results they posted sucked.
Comment by ROIcrusader on Jul 29, 2021 10:24am
So... you're not entirely wrong. Given the results from Royal Dutch Shell, Baytex and other companies (who's stocks have not popped with great results) it's not surprising the market is punishing this name for luke warm results.   SECOND QUARTER OVERVIEW The second quarter of 2021 continued to build on the momentum experienced in the prior quarter with increased oil ...more  
Comment by Re1ndeer2 on Jul 29, 2021 10:38am
The Hedging or conservative approach to the truth of the Hedge surprised me....During the last half of 2020, Cardinal hedged approximately 39% of its second quarter 2021 oil production (6,000 bbl/d) to protect a portion of our 2021 capital program. In the second half of 2021, after taking into account the acquired Venturion production and associated existing hedging contracts, approximately 17% (3 ...more  
Comment by Rational43 on Jul 29, 2021 10:45am
Adjusted funds flow was a little lighter than expected, but 39% of their production was hedged in Q2, and on the unhedged portion the price was $10 lower most of the Quarter.   Only 17% hedged for Q3, and unhedged for 2022.  The real differentiator will be Q3 results when Cardinal realizes current high prices, while most of its competitors are still stuck selling half their oil for ...more  
Cardinal Energy Ltd (Alberta)
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