Despite spending less than $3.0 mm and drilling zero wells, Cardinal generated a strong quarter of operations as production managed to grow q/q while operating expenses dropped 10% (~$2.50/boe) over levels observed in 4Q14, all helping it to match our cash flow expectations at ~$22.0 mm ($0.38 per share) and beating consensus forecast of $0.36 per share.
12 May 2015
Cardinal Energy Quietly Posts Strong 1Q15 Results
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Cardinal Energy Quietly Posts Strong 1Q15 Results
Cardinal Energy Ltd. (CJ:TSE) | 0 0 (-2.2%) | Mkt Cap: 471.3m
- Published:
12 May 2015 -
Author:
Cody R. Kwong -
Pages:
9
Despite spending less than $3.0 mm and drilling zero wells, Cardinal generated a strong quarter of operations as production managed to grow q/q while operating expenses dropped 10% (~$2.50/boe) over levels observed in 4Q14, all helping it to match our cash flow expectations at ~$22.0 mm ($0.38 per share) and beating consensus forecast of $0.36 per share.