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Cardinal Energy Ltd. (T:CJ)

Business Focus: Oil & Gas Exploration and Production (NEC)

Sector:  Energy Industry:  Oil & Gas Exploration and Production
Company Contact
Address: 600-400 3 Ave SW
Tel: N/A
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 a Canada-based oil and gas company. 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 is located near Weyburn Saskatchewan. It has over 730 million original oil in place (OOIP) and its low decline production of approximately 3,100 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 producing area is located in East Central Alberta and includes Venturion properties. Its North area includes Grande Prairie, Nipisi Clearwater, House Mountain, Mica and Mitsue properties.
Financial Overview
For the six months ended 30 June 2023, Cardinal Energy Ltd (Alberta) revenues decreased 31% to C$223M. Net income decreased 72% to C$44M. Revenues reflect Crude oil segment decrease of 32% to C$258M, Oil Equivalent Production (Units/day), T remaining flat at 21K barrels per day. Net income also reflects Average Production Costs per unit, Total increase of 5% to C$25.55 per barrel, Operating increase of 6% to C$99.1M (expense).
Employees: 166 as of Dec 31, 2022
Reporting Currency: Canadian Dollars
Enterprise value: N/A
Annual revenue (TTM): $490.61M as of Jun 30, 2023
EBITDA (TTM): $242.88M as of Jun 30, 2023
Net annual income (TTM): $190.90M as of Jun 30, 2023
Free cash flow (TTM): $70.02M as of Jun 30, 2023
Net Debt Last Fiscal Year: $57.45M as of Jun 30, 2023
Shares outstanding: 158,513,052 as of Jun 30, 2023
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization