Central District

This producing area is located in East Central Alberta.  It produces medium quality oil from multiple, large original oil in place (“OOIP”) pools under historical enhanced oil recovery (“EOR”) schemes.  The property has a 17-year reserve life index and an operating horizon of over 50+ years.  The recently acquired Venturion properties have been integrated into Cardinal operations. Future investment will be focused on optimization of existing fields, operating cost reductions and select development drilling.

Area 2022 Budget & Statistics

NOI

($65MM-$70MM)
 
30%

Capex

($14MM)
 
19%

P FCF*

($51MM-$56MM)
 
35%

Production

(5,600-5,800 boe/d)
 
28%

Drilling Inventory

(# potential Tier 1 locations)
 
30

*P FCF (Property Free Cash Flow) = Net Operating Income Less Capital Expenditures