Cardinal Energy Ltd. Announces First Quarter 2022 Operating and Record Financial Results
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Thursday, May 12, 2022
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Cardinal was in a position to fully take advantage of the increased prices as we were unhedged on all commodities in the quarter.
Key Points:
- Cardinal was in a position to fully take advantage of the increased prices as we were unhedged on all commodities in the quarter.
- Cardinal remains on track to achieve our first phase net debt target of $100 million in the second quarter of 2022.
- Crude oil makes up 85% of Cardinal's production which is up from 80% in the first quarter 2021.
- The record date for the dividend will be June 30, 2022 and the dividend will be paid on or about the 15th of July, 2022.