Sector: Energy | Industry: Oil & Gas Exploration and Production |
Company Contact | |
Address: | 600-400 3 Ave SW CALGARY AB T2P 4H2 |
Tel: | N/A |
Website: | https://cardinalenergy.ca |
IR: | See website |
Key People | ||
M. Scott Ratushny Chairman of the Board, Chief Executive Officer | Ken Younger Vice President - South | Shawn A. Van Spankeren Chief Financial Officer |
Dale J. Orton Chief Operating Officer | Robert Ernest Law Wollmann Senior Vice President - Exploration | Laurence Luis Broos Vice President - Finance |
Wes Heatherington Vice President - North | David Kelly Vice President - Saskatchewan | Jason Laforge Vice President - Central | Connie Shevkenek Vice President - Engineering |
Business Overview |
Cardinal Energy Ltd. is an oil and gas company with operations focused on low decline oil in Western Canada. It is engaged in the acquisition, exploration and production of petroleum 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. It has over 730 million original oils in place (OOIP) and its low decline production of approximately 3,200 barrels of oil equivalent per day (boe/d) is supported by both water and carbon dioxide (CO2) enhanced oil recovery (EOR). 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 original oil in place (OOIP) pools. Its North area includes Grande Prairie, Clearwater, House Mountain, Mica, and Mitsue properties. |
Financial Overview |
For the fiscal year ended 31 December 2023, Cardinal Energy Ltd (Alberta) revenues decreased 19% to C$481.1M. Net income decreased 66% to C$103.6M. Revenues reflect Crude oil segment decrease of 18% to C$562.2M, Natural gas segment decrease of 48% to C$16.1M. Net income also reflects Impairment reversal, net decrease from C$46.4M (income) to C$0K, Unrealized gain (loss) on commodity cont decrease from C$1.5M (income) to C$1.4M (expense). |
Employees: | 166 as of Dec 31, 2022 |
Reporting Currency: | Canadian Dollars |
Enterprise value: | N/A |
Annual revenue (TTM): | $481.12M as of Dec 31, 2023 |
EBITDA (TTM): | $241.61M as of Dec 31, 2023 |
Net annual income (TTM): | $103.60M as of Dec 31, 2023 |
Free cash flow (TTM): | -$19.26M as of Dec 31, 2023 |
Net Debt Last Fiscal Year: | $50.10M as of Dec 31, 2023 |
Shares outstanding: | 158,095,048 as of Dec 31, 2023 |
TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization |