Cardinal Energy公布第三季度财务报告

Cardinal Energy is pleased to announce its operating and financial results for the three and nine months ended September 30, 2016. Cardinal achieved record average production of 14,957 boe/day, (87% oil and NGLs), an increase of 5% per weighted average share compared to the third quarter of 2015; Operating expenses per boe for the third quarter decreased to $19.96/boe from $20.23/boe in the second quarter of 2016; General and administrative expenses per boe decreased to $1.82/boe from $2.09/boe in the second quarter of 2016; Cardinal invested $12.7 million in exploration and development capital expenditures and drilled 3 Glauconitic horizontal wells in Bantry in the third quarter of 2016; and Cash flow from operations increased 7% to $18.2 million from the second quarter of 2016 and netback was $15.81/boe. The third quarter of 2016 marked the 7th consecutive quarter of Cardinal maintaining a sustainable growth.