Operations Overview

Cardinal is a low decline, oil focused company that produces in four core areas in Western Canada. We have a balanced portfolio, deep development drilling inventory and defined ESG focus.

Operating Areas

2021 Budget and Statistics

NOI

($115-$125MM)
25%
25%
25%
25%

Capex

($25-$30MM)
23%
20%
27%
30%

FCF*

($40-$45MM)
25%
27%
25%
23%

Production

(17.5-18.0 mboe/d)
25%
31%
27%
17%

Drilling Inventory

(# potential locations)
154
123
71
201

*Free cash flow (“FCF”) is calculated as adjusted funds flow less development capital expenditures.

100% Light Oil

Midale, SK

3,000

BOE Per Day
80% Medium/Heavy Oil,
20% Natural Gas

South Area

4,800

BOE Per Day
96% Medium/Heavy Oil,
4% Natural Gas

Central Area

4,400

BOE Per Day
75% Light Oil & NGLs,
25% Natural Gas

North Area

5,500

BOE Per Day