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Cardinal Details Financials, Texas Focus; Updates Bradford Ops
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Cardinal Energy Group, Inc. reported financial results for the Fourth Quarter ended December 31, 2014. Cardinal's fourth quarter operating revenues in 2014 totaled $768,263 compared to $3,919 for the comparable period in 2013.
The current period amount reflects increased crude oil sales volumes from its north-central Texas oil and gas leases and contract development revenues for services provided to the Bradford JV partnership. Cardinal's Net Comprehensive Loss was $2,445,928 or $.07 per share for the year ended December 31, 2014 compared to $2,091,117 or $.06 per share in 2013. Total operating revenues in 2014 surged to $1,865,626 from $16,657 in 2013. EBITDA (earnings before interest, taxes, depreciation and amortization) for the year ended December 31, 2014 was a loss of $1,324,130…
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