Cardinal acquires 5,000 BOEPD of production
Apache Corp. (ticker: APA) announced the sale of Canadian light oil assets today in a C$330 million ($244 million) cash deal with Cardinal Energy (ticker: CJ). Unlike many recent Canadian oil and gas property sales, these properties are not unconventional Montney or oil sands, but instead are conventional light oil.
~300 drilling locations available, 6% decline rate
The assets sold are in two locations, one in central Alberta in the House Mountain area, and the second in the Weyburn/Midale area of...


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