Cardinal Energy Q2 adjusted funds flow declines

Cardinal Energy (Alberta)

30/07/2025 23:15

Overview

Cardinal Energy Q2 adjusted funds flow falls 40% yr/yr, driven by lower commodity prices

Net operating expenses per boe decreased 5% due to reduced maintenance costs

Company's net debt rises to C$227.1 million at the end of the second quarter

Outlook

Cardinal expects first steam at Reford later in Q3

Company plans 6,000 bbl/d production in early Q1 2026

Cardinal to drill five stratigraphic test wells in 2025

Result Drivers

PRODUCTION OPTIMIZATION - Production exceeded budget due to optimization at Midale and Nipisi despite forest fires and outages

REFORD SAGD INVESTMENT - Significant capital directed to Reford SAGD project, now in testing phase, on budget and schedule

COST MANAGEMENT - Net operating expenses decreased 5% due to reduced maintenance and lower electricity costs

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Petroleum and Natural Gas Revenue
C$127.38 mln
Q2 Cash Flow from Operating Activities
C$43.59 mln
Q2 Operating Expenses
-C$23,040


Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the oil & gas exploration and production peer group is "buy."

Wall Street's median 12-month price target for Cardinal Energy Ltd (Alberta) is C$7.00, about 6.6% below its July 30 closing price of C$7.46

The stock recently traded at 15 times the next 12-month earnings vs. a P/E of 11 three months ago

Press Release: ID:nNFC9PsV8w

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)