Print 
Cardinal Enegy reported that it reached record production of approximately 22,000 boe/d, well ahead of our production guidance of 21,000 – 21,500 boe/d.
Since then, with widening Canadian oil price differentials we began to systematically shut-in our higher operating costs properties to avoid cash production losses. As of December 1, approximately 15% of our production was shut-in.
With the Alberta government's announced mandatory production curtailment and the expected pricing improvements in Canadian oil differentials, we expect to bring back the majority of the shut in production in January 2019.
Taking into account the estimated curtailed volume, January production is currently forecasted to average approximately 20,100 to 20,400 boe/d.
Our focus for 2019 will be to maintain the integrity of our asset base, reduce long term debt and undertake capital projects that create long term reductions in our operating costs.
More Corporate Production Rates News
Petrus Resources Ltd. First Quarter 2023 Results
Petrus Resources Ltd. announced first quarter 2023 results. Highlights Higher production – Production was up 54% from 7,379 boe/d(1) in the first quarter of 2022 to 11,385 boe/d…
Cardinal Energy Ltd. First Quarter 2023 Results
Cardinal Energy Ltd. announced first quarter 2023 results. Highlights Production increased 5% over the same period in 2022 due to ongoing strong base performance and excellent 2022 drilling…
Headwater Exploration Inc. First Quarter 2023 Results
Headwater Exploration Inc. announced first quarter 2023 results. Highlights Declared second cash dividend of $0.10 per common share and returned $23.5 million to shareholders in April 2023. Production…
Rubellite Energy Inc. First Quarter 2023 Results
Rubellite Energy Inc. announced first quarter 2023 results. Highlights Achieved first quarter conventional heavy oil sales production of 2,990 bbl/d, exceeding the Company’s guidance range of 2,800 to…
Bonterra Eneergy Corporation First Quarter 2023 Results
Bonterra Eneergy Corporation announced first quarter 2023 results. Highlights Production in Q1 2023 averaged 13,464 BOE per day, four percent higher than Q4 2022, driven by an active,…
Canada News
Western Canada Upstream M&A: Q1 2026 Transaction Report
Western Canadian M&A activity in Q1 2026 was characterized by a 87% decrease in total deal value compared to Q1 2025, totaling $0.8 billion C$. However, transaction volume…
Canadan E&P 2026 Program Calls for 448 Net Wells, Up 24% vs. 2025 Plan
Canadian Natural Resources outlined a 2026 operating capital budget of approximately $6.3 billion (total capital budget $6,425 million, including $125 million for carbon capture) targeting 1,590–1,650 MBOE/d of…
EIA’s “Glut” Calls: The 2025 Surplus Claim — and How 2021–2024 Forecasts Actually Held Up
The “~2.2 MMb/d glut in 2025” framing traces to the EIA’s Short-Term Energy Outlook (STEO), December 2025. EIA doesn’t usually write “glut” in the tables—what they publish is…
Whitecap Details 2026 Duvernay & Montney Program
Whitecap Resources reported strong third quarter 2025 operating and financial results, marking its first full quarter following the strategic combination with Veren that closed on May 12, 2025.…
ARC Resources: Lower 2026 Capex, Higher Volumes
ARC Resources used its third quarter update to reinforce a familiar message to Canadian E&P executives: disciplined capital, structurally better market access, and a growing shareholder return program…