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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
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