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

2023 Budget and Statistics

Netback

($280MM-$300MM)
19%
30%
25%
26%

Capex

($97MM)
26%
28%
24%
22%

FCF*

($170MM-$180MM)
15%
31%
25%
28%

Production

(22,000 boe/d)
15%
29%
26%
30%

Drilling Inventory

(# potential Tier 1 locations)
60
30
50
42

*Free cash flow (“FCF”) is calculated as adjusted funds flow less development capital expenditures (based on our Budget at $80 WTI)

100% Light Oil

Midale, SK

3,250

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

South Area

6,400

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

Central Area

5,750

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

North Area

6,600

BOE Per Day

Net Daily Production