![]() ![]() ![]() Netback after risk management contracts (1)Ĭommodity prices continued to increase through the third quarter of 2021 providing Cardinal with significantly increased adjusted funds flow of $37.6 million, a 48% increase over the second quarter of 2021. Realized gain (loss) on commodity contracts Net debt to adjusted funds flow ratio (1) ($000’s except shares, per share and operating amounts)Ĭommon shares, net of treasury shares (000s) The following table summarizes our third quarter 2021 operating and financial highlights: Closed the corporate acquisition of Venturion adding approximately 2,400 boe/d of low decline production (83% oil).Continued with our disciplined capital program spending $17.5 million of capital expenditures which included the drilling of five (4.0 net) wells.Reduced net bank debt (1) to $187.5 million despite incurring approximately $15.3 million of additional net bank debt on the acquisition of Venturion Oil Limited (“Venturion”).Third quarter 2021 free cash flow (1) increased to $21.0 million or 142% over the third quarter of 2020 leading to a total payout ratio (1) of 44%.Increased adjusted funds flow (1) by 184% to $37.6 million ($0.25/basic share) as compared to the third quarter of 2020.Selected financial and operating information is shown below and should be read in conjunction with Cardinal’s unaudited condensed interim consolidated financial statements and related Management’s Discussion and Analysis for the three and nine months ended Septemwhich are available at and on our website at FINANCIAL HIGHLIGHTS FROM THE THIRD QUARTER OF 2021 (“ Cardinal” or the “ Company“) ( TSX: CJ) is pleased to announce its operating and financial results for the third quarter ended Septemand its 2022 budget. ![]()
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