Cardinal Energy closes Wainwright acquisition (Scandinavian Oil-Gas Magazine)

Cardinal Energy closes Wainwright acquisition

Published Aug 26, 2014

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.

Tags: Cardinal Energy Group

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