<
News + Analysen
News + Adhoc
Analysen
Kursziele
>
<
Unternehmen
Termine
Profil
>
<
zugeh. Wertpapiere
Strukturierte Produkte
>
21.03.2018 01:55:08

Cardinal Energy Ltd. Announces Reserves and Fourth Quarter and 2017 Year-End Results

CALGARY, Alberta, March 20, 2018 (GLOBE NEWSWIRE) -- Cardinal Energy Ltd. ("Cardinal" or the "Company") (TSX:CJ) is pleased to announce its operating and financial results for the quarter and year ended December 31, 2017 as well as its 2017 year end reserves.2017 Financial HighlightsAchieved an all in total payout ratio of 98% in Q4 2017 despite accelerating planned Q1 2018 development activity into 2017.Fourth quarter 2017 operating costs per boe decreased 12% to average $20.34 per boe as compared to the same period in 2016.Netbacks improved 52% in the fourth quarter and 70% for 2017, respectively over the same periods in 2016, to average $22.64/boe and $18.36/boe.Achieved a 151% increase in cash flow from operating activities and a 75% increase in adjusted funds flow during the fourth quarter compared to the same period in 2016.  For 2017, cash flow from operating activities and adjusted funds flow increased 26% and 39%, respectively, compared to 2016.Increased annual production by 28% and fourth quarter production by 43% which included a 39% increase in crude oil production compared to 2016.    Three months ended December 31, Year ended December 31,($ 000's except shares, per share and operating amounts)2017 2016 % Change  2017 2016 % Change Financial       Petroleum and natural gas revenue97,646    58,721    66     313,844  195,942    60  Cash flow from operating activities24,442  9,728  151   76,530  60,962  26  Adjusted funds flow (1)28,421  16,247  75   81,988  59,104  39  basic and diluted per share0.26  0.22  18   0.86  0.84    2  Loss(54,307)(31,995)70   (57,597)(87,322)(34)basic and diluted per share(0.49)(0.43)14   (0.61)(1.25)(51)Dividends declared11,896  7,747  54   40,904  29,584  38  per share0.105  0.105  -   0.420  0.420  -  Net bank debt (1)225,967  70,300  n/m   225,967  70,300  n/m  Exploration and development capital15,901  14,510  10   66,453  41,361  61  Acquisitions, net(15,661)33,229  (147) 313,191  34,235  n/m  Total capital expenditures  759  47,927    (98) 381,756  76,258  n/m  Weighted average shares outstanding       basic and diluted (000s)110,446  73,728  50   94,113  70,097  34          Operating       Average daily production       Crude oil and NGL (bbl/d)17,943  12,586  43   15,802  12,771    24  Natural gas (mcf/d)  18,032  12,178  48   17,431  11,042  58  Total (boe/d)  20,948  14,616  43   18,707  14,611  28  Netback(1)       Petroleum and natural gas revenue  50.66  43.67  16   45.96  36.64  25  Royalties  7.68  5.57  38   6.67  4.61  45  Operating expenses  20.34  23.24  (12) 20.93  21.23  (1)Netback  22.64  14.86  52   18.36  10.80  70  Realized gain (loss)  (2.82)0.09  N/A  (2.22)3.08  N/A  Netback after risk management (1)  19.82  14.95  33   16.14  13.88  16  (1) See non-GAAP measures               Reserve Highlights (1)2017 production reserve replacement4.7x Proved Developed Producing ("PDP")6.3x Total Proved and Probable ("TPP")Increased our PDP Reserve Life Index ("RLI") to 9.3 years from 8.5 years.Increased our TPP RLI to 13.7 years.89% of Cardinal's reserves are producing (proved plus probable producing), an increase of 3% ...Full story available on Benzinga.com
Weiter zum vollständigen Artikel bei "Benzinga earnings"

Analysen zu Cardinal Co Ltdmehr Analysen

Eintrag hinzufügen

Handelsstreit sorgt für Auf und Ab | BX Swiss TV

Aktien in diesem Artikel

Cardinal Co Ltd 702.00 0.29% Cardinal Co Ltd
Cardinal Energy Ltd 1.98 2.06% Cardinal Energy Ltd

Finanzen.net News

pagehit
FinanzenNet.Finando.Web.Core.Areas.Article.ViewModels.News.DetailsViewModel FinanzenNet.Finando.Web.Core.Extensions.VueComponent ;