*Free cash flow (“FCF”) is calculated as adjusted funds flow less development capital expenditures (based on our Budget at $80 WTI)
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.
2023 Budget and Statistics
Drilling Inventory(# potential Tier 1 locations)
20% Natural Gas
4% Natural Gas
25% Natural Gas