Scandinavian Oil-Gas Magazine
http://www.scandoil.com/moxie-bm2/news/cardinal-energy-closes-wainwright-acquisition.shtmlCardinal Energy closes Wainwright acquisition
Cardinal Energy Ltd. has closed its previously announced Wainwright Acquisition effective August 22, 2014.
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Cardinal Energy Ltd. has closed its previously announced Wainwright Acquisition effective August 22, 2014.
The Acquisition adds 1,900 BOEPD (99% oil) of long life, low decline production. The Acquisition will allow Cardinal to expand its drilling program while still maintaining a less than 15% corporate decline rate.
With the full quarter of production from the Acquisition, Cardinal's production is expected to average approximately 8,500 - 8,800 BOEPD for the fourth quarter of 2014.
