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Company News

BRIEF-Cardinal Energy Says Production Is Expected To Average 21,000 To 21,500 Boe/D For 2018

Dec 12 (Reuters) - Cardinal Energy Ltd:

* CARDINAL ENERGY - PRODUCTION IS EXPECTED TO AVERAGE 21,000 TO 21,500 BOE/D FOR 2018

* CARDINAL ENERGY LTD - PRODUCTION GROWTH IS EXPECTED TO OCCUR IN Q4 OF 2018

* CARDINAL ENERGY LTD - 2018 CAPITAL BUDGET IS EXPECTED TO PRODUCE PRE-HEDGING ADJUSTED FUNDS FLOW OF $132 MILLION

* CARDINAL ENERGY LTD - AFTER ACCOUNTING CO’S CURRENT COMMODITY HEDGING EXPOSURE, ADJUSTED FUNDS FLOW IS EXPECTED TO BE ABOUT $125 MILLION IN 2018

* CARDINAL ENERGY - ALL ACQUISITIONS DONE IN 2018 TO BE FUNDED WITH EXCESS OPERATING ADJUSTED FUNDS FLOW, CO WILL NOT INCUR ADDITIONAL DEBT FOR ACQUISITIONS

* CARDINAL ENERGY LTD - PRODUCT MIX (87% OIL/13% NATURAL GAS) IS EXPECTED TO BE 50/50 LIGHT OIL VERSUS MEDIUM OIL AT YEAR END 2018

* CARDINAL ENERGY LTD - EXPECTS TO FINALIZE ADDITIONAL ROYALTY AND FEE TITLE ASSET SALES IN Q1 2018

* CARDINAL ENERGY LTD - EXPECTS TO FINALIZE ADDITIONAL ROYALTY AND FEE TITLE ASSET SALES IN Q1 2018 Source text for Eikon: Further company coverage:

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