TSX:CJOil and Gas
The Bull Case For Cardinal Energy (TSX:CJ) Could Change Following Record Output, Bigger SAGD Budget And CEO Shift
Cardinal Energy Ltd. reported first-quarter 2026 results, with revenue of C$120.91 million and net income of C$10.75 million, and confirmed all director nominees at its May 7 shareholders’ meeting.
The company highlighted record production of 25,948 boe/d, a higher C$205 million capital budget focused on SAGD growth, and a leadership transition with the CEO moving to Executive Chair and the COO becoming President.
Next, we will examine how record production alongside a higher capital budget...