Exploration & Production | Quarterly / Earnings Reports | Capital Markets | Private Equity Activity
Cardinal Looks to Grow Texas Sector; Talks 2013 Financials
Print
|
Cardinal Energy Group, Inc. has reported financial results for the twelve months ended December 31, 2013. The Company also provided current production data and guidance along with an update on its existing business strategy.
FY 2013 Financial ResultsRevenues from oil and gas decreased to $16,657 for the year ending December 31, 2013 from $21,162 for the prior year as a result of lower production.
General and administrative expenses increased to $1,546,956 for the year ending December 31, 2013 compared to $206,585 for the year ending December 31, 2012. The primary reason for the increase was higher consulting and professional fees incurred in connection with oil and gas property acquisitions. Non-cash stock-based compensation expense for third party consultants was $578,375 in 2013…
- ✓ Full news archive — U.S., Canada & international coverage
- ✓ A&D transactions — asset deals, corporate M&A, assets for sale
- ✓ Permits & completions data, plus 900,000+ slides & presentations