Cardinal Energy ( (TSE:CJ) ) has issued an update.
Cardinal Energy Ltd. reported stable production levels for 2024, maintaining an average of 21,776 boe/d despite a reduction in capital expenditures. The company achieved a 5% increase in adjusted funds flow for the year, directing significant funds towards dividends, asset development, and decommissioning liabilities. The Reford SAGD project received substantial investment, and Cardinal secured additional financing to support future thermal project developments, indicating a strategic focus on expanding their thermal asset base.
More about Cardinal Energy
Cardinal Energy Ltd. operates in the energy sector, focusing on the production of oil and gas. The company is engaged in the development and management of conventional and thermal assets, with a market focus on maximizing shareholder returns through strategic capital expenditures and asset management.
YTD Price Performance: -2.67%
Average Trading Volume: 678,027
Technical Sentiment Consensus Rating: Sell
Current Market Cap: C$972.9M
For a thorough assessment of CJ stock, go to TipRanks’ Stock Analysis page.