Cardinal Energy Group Inc (CEGX) 0.0101 $CEGX
Cardinal Energy Group, Inc. - Second Quarter Earnings Report
Marketwired - Tue Aug 25, 10:22AM CDT
Cardinal Energy Group, Inc. ("Cardinal Energy" or "the Company"
(OTCQB: CEGX) is pleased to report its best "EBITDA" (earnings before interest, taxes, depreciation and amortization) quarter since the company was founded. EBITDA for the quarter ended June 30, 2015 was $541,491 compared to a negative $925,898 for the quarter ended June 30, 2014. Operating revenues surged to $660,444 in the current period compared to $59,920 for the comparable period in 2014. The increase in operating revenues primarily reflects increased contract development activities at the Bradford "A" and "B" leases. The increase in operating revenues occurred despite a dip in crude oil sale revenues, which reflect lower crude oil prices (realized prices averaged $48.94 BBL in the second quarter of 2015 versus $91.77 BBL in the second quarter of 2014) and lower production volumes due to mechanical and down-hole issues at some of our recently developed properties in north-central Texas.
Cardinal Energy Group, Inc.: Bradford A & B Report
Marketwired - Thu Jul 23, 7:13AM CDT
Cardinal Energy Group, Inc. ("Cardinal Energy" or "the Company" (OTCQB: CEGX) reports on the progress at the Bradford A & B leases as the operator for Keystone Energy.
Cardinal Energy Group (CEGX) Settles Dispute With Concho Oilfield Services, LLC
Marketwired - Tue Jun 30, 7:48AM CDT
Cardinal Energy Group, Inc. (OTCQB: CEGX) ("Company" is pleased to announce that the attorneys for Concho Oilfield Services, LLC and Hudson Petroleum, Ltd., Co., have asked the court to dismiss their claims against the Company with prejudice. The motions filed with the Texas District Court for Shackelford County discharges Cardinal of its obligations pursuant to the March 10, 2015 Joint Settlement Agreement. The amicable settlement of the suit requires Concho Oilfield Services to repair CEGX's No. 5B well on the Dawson-Conway 195B lease.
Cardinal Moves Its Corporate Offices to Abilene, Texas
Marketwired - Wed Jun 10, 6:27AM CDT
Cardinal Energy Group, Inc. (OTCQB: CEGX) ("Company" is pleased to announce that the Company is closing its Dublin, Ohio executive offices and moving them to Texas. The new corporate offices will be located in The Enterprise Tower at 500 Chestnut Street, Suite 1615, Abilene, Texas (see http://wikimapia.org/5390709/The-Enterprise-Building). Abilene is located 175 miles west and south of Dallas-Fort Worth.
Cardinal Energy Group, Inc. (CEGX) Announces John Jordan
Marketwired - Wed May 27, 7:47AM CDT
Cardinal Energy Group, Inc. (OTCQB: CEGX) is pleased to announce that John Jordan has rejoined CEGX management as Chief Financial Officer. Gary Peterson will move to the Controller position.
Cardinal Energy Group, Inc. (CEGX) Reports Incorrect Information
Marketwired - Tue May 19, 5:00AM CDT
Cardinal Energy Group, Inc. (OTCQB: CEGX) reports that the Yahoo Financial Portal is posting incorrect information. The portal is posting information for Cardinal Energy, Ltd. of Calgary Alberta Canada. Cardinal Energy LTD has no association whatsoever with Cardinal Energy Group, Inc. with offices in Dublin, Ohio and Abilene, Texas.
Cardinal Energy Group (CEGX) Engages JP Fortune Group
Marketwired - Tue May 12, 5:00AM CDT
Cardinal Energy Group, Inc. (OTCQB: CEGX) is pleased to announce it has engaged JP Fortune Group (JPF), one of North America's premier small-cap advisory firms. JP Fortune Group will assist the Company in capital market positioning, financial operations management, M&A opportunities, and strategic investor communications. JPF will implement a comprehensive equity growth strategy and execute an extensive investor relations campaign. The Company's goal is to exploit opportunities in the financial marketplace while increasing market value for its shareholders' equity.
Cardinal Energy Group, Inc. Announces 4th Quarter and Full Year Results
Marketwired - Mon Apr 13, 5:00AM CDT
Cardinal Energy Group, Inc. (OTCQB: CEGX), an independent oil and gas exploration and production company with its primary assets in Shakelford County, Texas, reported financial results for the Fourth Quarter ended December 31, 2014. Cardinal's fourth quarter operating revenues in 2014 totaled $768,263 compared to $3,919 for the comparable period in 2013. The current period amount reflects increased crude oil sales volumes from its north-central Texas oil and gas leases and contract development revenues for services provided to the Bradford JV partnership. Cardinal's Net Comprehensive Loss was $2,445,928 or $.07 per share for the year ended December 31, 2014 compared to $2,091,117 or $.06 per share in 2013. Total operating revenues in 2014 surged to $1,865,626 from $16,657 in 2013. EBITDA (earnings before interest, taxes, depreciation and amortization) for the year ended December 31, 2014 was a loss of $1,324,130 compared to a loss of $1,543,819 in 2013. EBITDA for the third and fourth quarters of 2014 was $194,138 compared to a loss of $829,041 for the comparable period of 2013. The improvement during the second half of 2014 reflects the increased sales volumes of crude oil from the Company's recently acquired and developed Texas oil and gas properties plus contract development revenues from services provided to Bradford JV.
Cardinal Energy Announces Drilling Has Commenced on Bradford West Lease
Marketwired - Wed Apr 01, 6:32AM CDT
Cardinal Energy Group, Inc. (OTCQB: CEGX) announces that it has secured its first drilling permit for its recently acquired 200 acre Bradford West Lease, which is adjacent and to the West of its Bradford A and B Leases. The first well of a twenty well program, the Bradford BW-1 well was drilled on March 16, 2015. Upon completion of the tank batteries and minor infrastructure requirements the Bradford BW-1 will be completed.
Cardinal Energy Executes $2.5M Credit Line Term Sheet
Marketwired - Tue Mar 17, 5:00AM CDT
Cardinal Energy Group, Inc. (OTCQB: CEGX) has executed a term sheet for a $2,500,000 revolving credit line from a prominent New York based Private Equity Firm and expects to close and draw down on the facility within 30 days. The credit facility has been earmarked to drill and complete wells on the Bradford A & B Leases and the Bradford West Lease.
Cardinal Energy Continues to Attract Interest With Tax Shelter Opportunity
Marketwired - Thu Mar 12, 6:00AM CDT
Cardinal Energy Group, Inc. (OTCQB: CEGX) is taking advantage of the accelerated tax deductions for oil & gas investors through its Direct Participation Programs. While investors question energy investing overall, Cardinal is attracting them with its first such program called the Bradford Joint Venture. The Bradford Joint Venture offered a unique opportunity for accredited investors to directly participate as joint venture partners in a twenty-one (21) well oil drilling program, located in Shackelford County, Texas.
Cardinal Energy Group, Inc. Sets Business Strategy for 2015
Marketwired - Thu Feb 12, 11:40AM CST
Cardinal Energy Group, Inc. (OTCQB: CEGX) sets its business strategy for 2015. Secondary recovery methods and developmental or in-field drilling on existing acreage will continue to be the focus of operations for the foreseeable future for Cardinal. Our secondary recovery methods allow the company to withstand low oil prices and continue profitability.
Cardinal Energy Group, Inc.: Fortune Lease Drilling Report
Marketwired - Wed Jan 28, 7:57AM CST
Cardinal Energy Group, Inc. (OTCQB: CEGX) is pleased to announce that its Fortune Lease is in its final completion stage. Electricity has been brought to the location and connected to the equipment. The tank batteries are installed and connected to the flow lines. The lease has been approved for natural gas hook-up. There are 2 wells completed in the Cooke Sandstone and 1 well in the deeper Caddo Lime. The initial production is approximately 30 BOPD gross. Cardinal is participating in 50% of the play situated on 310 acres.
Cardinal Energy Group buys Bradford West, with 20 new identified wells
M2 - Thu Jan 08, 3:01AM CST
Natural gas company Cardinal Energy Group (OTCQB:CEGX) reported on Wednesday that it has completed the acquisition of the Bradford "West" for a purchase price of USD20,000.
Cardinal Energy Group, Inc. Acquires Bradford West
Marketwired - Wed Jan 07, 7:33AM CST
Cardinal Energy Group, Inc. (OTCQB: CEGX) announces that it has acquired the Bradford "West". The new prospect is comprised of 200 acres and is located adjacent and to the west of Cardinal's existing Bradford field. The prospect was acquired for $20,000 on December 31, 2014. The lease is also located within a couple of miles of Cardinal's Albany, Texas field operations facility in Shackelford County, Texas. Cardinal is in the process of securing drilling permits for the 20 new locations that the geologist has identified in the formation. Cardinal pursued this new Bradford "West" lease largely because of the success of the first Bradford Lease acquired in 2014.
Cardinal Energy Group, Inc.: Bradford Lease Drilling Report
Marketwired - Fri Dec 19, 6:42AM CST
Cardinal Energy Group, Inc. (OTCQB: CEGX) announces that since drilling resumed December 1st on the Bradford Lease 4 new wells have been drilled, the B #13, B #10 and the B #8. The next locations, the B #17, B #14, and A #14 are permitted and will be drilled over the next two to three weeks to complete the drilling portion of the Bradford Drilling Program, which consists of 7 existing wells and 14 new development wells. The wells are located in Shackelford County, Texas within a couple of miles from Cardinal's Albany, Texas field operations facility.
Cardinal Energy Group, Inc. Announces Earnings Conference Call Co-Ordinates
Marketwired - Wed Dec 03, 9:52AM CST
Cardinal Energy Group, Inc. (OTCQB: CEGX), an oil and gas exploration and production company with its primary assets in Shackelford County, Texas, reported financial results for the third quarter ended September 30, 2014. A conference call is scheduled for December 9, 2014 at 5PM EST. The call will be conducted by Timothy W. Crawford, CEO, and Gary B. Peterson, CFO.
Cardinal Energy Group, Inc. Announces its First Profitable Quarter
ACCESSWIRE - Wed Nov 19, 9:01AM CST
Third Quarter Operating Income of $234,000 is an Increase of $529,000 from the Third Quarter of 2013
Cardinal Energy Group, Inc. - Second Quarter Earnings Report
Marketwired - Tue Aug 25, 10:22AM CDT
Cardinal Energy Group, Inc. ("Cardinal Energy" or "the Company"
(OTCQB: CEGX) is pleased to report its best "EBITDA" (earnings before interest, taxes, depreciation and amortization) quarter since the company was founded. EBITDA for the quarter ended June 30, 2015 was $541,491 compared to a negative $925,898 for the quarter ended June 30, 2014. Operating revenues surged to $660,444 in the current period compared to $59,920 for the comparable period in 2014. The increase in operating revenues primarily reflects increased contract development activities at the Bradford "A" and "B" leases. The increase in operating revenues occurred despite a dip in crude oil sale revenues, which reflect lower crude oil prices (realized prices averaged $48.94 BBL in the second quarter of 2015 versus $91.77 BBL in the second quarter of 2014) and lower production volumes due to mechanical and down-hole issues at some of our recently developed properties in north-central Texas. Cardinal Energy Group, Inc.: Bradford A & B Report
Marketwired - Thu Jul 23, 7:13AM CDT
Cardinal Energy Group, Inc. ("Cardinal Energy" or "the Company"
(OTCQB: CEGX) reports on the progress at the Bradford A & B leases as the operator for Keystone Energy. Cardinal Energy Group (CEGX) Settles Dispute With Concho Oilfield Services, LLC
Marketwired - Tue Jun 30, 7:48AM CDT
Cardinal Energy Group, Inc. (OTCQB: CEGX) ("Company"
is pleased to announce that the attorneys for Concho Oilfield Services, LLC and Hudson Petroleum, Ltd., Co., have asked the court to dismiss their claims against the Company with prejudice. The motions filed with the Texas District Court for Shackelford County discharges Cardinal of its obligations pursuant to the March 10, 2015 Joint Settlement Agreement. The amicable settlement of the suit requires Concho Oilfield Services to repair CEGX's No. 5B well on the Dawson-Conway 195B lease. Cardinal Moves Its Corporate Offices to Abilene, Texas
Marketwired - Wed Jun 10, 6:27AM CDT
Cardinal Energy Group, Inc. (OTCQB: CEGX) ("Company"
is pleased to announce that the Company is closing its Dublin, Ohio executive offices and moving them to Texas. The new corporate offices will be located in The Enterprise Tower at 500 Chestnut Street, Suite 1615, Abilene, Texas (see http://wikimapia.org/5390709/The-Enterprise-Building). Abilene is located 175 miles west and south of Dallas-Fort Worth. Cardinal Energy Group, Inc. (CEGX) Announces John Jordan
Marketwired - Wed May 27, 7:47AM CDT
Cardinal Energy Group, Inc. (OTCQB: CEGX) is pleased to announce that John Jordan has rejoined CEGX management as Chief Financial Officer. Gary Peterson will move to the Controller position.
Cardinal Energy Group, Inc. (CEGX) Reports Incorrect Information
Marketwired - Tue May 19, 5:00AM CDT
Cardinal Energy Group, Inc. (OTCQB: CEGX) reports that the Yahoo Financial Portal is posting incorrect information. The portal is posting information for Cardinal Energy, Ltd. of Calgary Alberta Canada. Cardinal Energy LTD has no association whatsoever with Cardinal Energy Group, Inc. with offices in Dublin, Ohio and Abilene, Texas.
Cardinal Energy Group (CEGX) Engages JP Fortune Group
Marketwired - Tue May 12, 5:00AM CDT
Cardinal Energy Group, Inc. (OTCQB: CEGX) is pleased to announce it has engaged JP Fortune Group (JPF), one of North America's premier small-cap advisory firms. JP Fortune Group will assist the Company in capital market positioning, financial operations management, M&A opportunities, and strategic investor communications. JPF will implement a comprehensive equity growth strategy and execute an extensive investor relations campaign. The Company's goal is to exploit opportunities in the financial marketplace while increasing market value for its shareholders' equity.
Cardinal Energy Group, Inc. Announces 4th Quarter and Full Year Results
Marketwired - Mon Apr 13, 5:00AM CDT
Cardinal Energy Group, Inc. (OTCQB: CEGX), an independent oil and gas exploration and production company with its primary assets in Shakelford County, Texas, reported financial results for the Fourth Quarter ended December 31, 2014. Cardinal's fourth quarter operating revenues in 2014 totaled $768,263 compared to $3,919 for the comparable period in 2013. The current period amount reflects increased crude oil sales volumes from its north-central Texas oil and gas leases and contract development revenues for services provided to the Bradford JV partnership. Cardinal's Net Comprehensive Loss was $2,445,928 or $.07 per share for the year ended December 31, 2014 compared to $2,091,117 or $.06 per share in 2013. Total operating revenues in 2014 surged to $1,865,626 from $16,657 in 2013. EBITDA (earnings before interest, taxes, depreciation and amortization) for the year ended December 31, 2014 was a loss of $1,324,130 compared to a loss of $1,543,819 in 2013. EBITDA for the third and fourth quarters of 2014 was $194,138 compared to a loss of $829,041 for the comparable period of 2013. The improvement during the second half of 2014 reflects the increased sales volumes of crude oil from the Company's recently acquired and developed Texas oil and gas properties plus contract development revenues from services provided to Bradford JV.
Cardinal Energy Announces Drilling Has Commenced on Bradford West Lease
Marketwired - Wed Apr 01, 6:32AM CDT
Cardinal Energy Group, Inc. (OTCQB: CEGX) announces that it has secured its first drilling permit for its recently acquired 200 acre Bradford West Lease, which is adjacent and to the West of its Bradford A and B Leases. The first well of a twenty well program, the Bradford BW-1 well was drilled on March 16, 2015. Upon completion of the tank batteries and minor infrastructure requirements the Bradford BW-1 will be completed.
Cardinal Energy Executes $2.5M Credit Line Term Sheet
Marketwired - Tue Mar 17, 5:00AM CDT
Cardinal Energy Group, Inc. (OTCQB: CEGX) has executed a term sheet for a $2,500,000 revolving credit line from a prominent New York based Private Equity Firm and expects to close and draw down on the facility within 30 days. The credit facility has been earmarked to drill and complete wells on the Bradford A & B Leases and the Bradford West Lease.
Cardinal Energy Continues to Attract Interest With Tax Shelter Opportunity
Marketwired - Thu Mar 12, 6:00AM CDT
Cardinal Energy Group, Inc. (OTCQB: CEGX) is taking advantage of the accelerated tax deductions for oil & gas investors through its Direct Participation Programs. While investors question energy investing overall, Cardinal is attracting them with its first such program called the Bradford Joint Venture. The Bradford Joint Venture offered a unique opportunity for accredited investors to directly participate as joint venture partners in a twenty-one (21) well oil drilling program, located in Shackelford County, Texas.
Cardinal Energy Group, Inc. Sets Business Strategy for 2015
Marketwired - Thu Feb 12, 11:40AM CST
Cardinal Energy Group, Inc. (OTCQB: CEGX) sets its business strategy for 2015. Secondary recovery methods and developmental or in-field drilling on existing acreage will continue to be the focus of operations for the foreseeable future for Cardinal. Our secondary recovery methods allow the company to withstand low oil prices and continue profitability.
Cardinal Energy Group, Inc.: Fortune Lease Drilling Report
Marketwired - Wed Jan 28, 7:57AM CST
Cardinal Energy Group, Inc. (OTCQB: CEGX) is pleased to announce that its Fortune Lease is in its final completion stage. Electricity has been brought to the location and connected to the equipment. The tank batteries are installed and connected to the flow lines. The lease has been approved for natural gas hook-up. There are 2 wells completed in the Cooke Sandstone and 1 well in the deeper Caddo Lime. The initial production is approximately 30 BOPD gross. Cardinal is participating in 50% of the play situated on 310 acres.
Cardinal Energy Group buys Bradford West, with 20 new identified wells
M2 - Thu Jan 08, 3:01AM CST
Natural gas company Cardinal Energy Group (OTCQB:CEGX) reported on Wednesday that it has completed the acquisition of the Bradford "West" for a purchase price of USD20,000.
Cardinal Energy Group, Inc. Acquires Bradford West
Marketwired - Wed Jan 07, 7:33AM CST
Cardinal Energy Group, Inc. (OTCQB: CEGX) announces that it has acquired the Bradford "West". The new prospect is comprised of 200 acres and is located adjacent and to the west of Cardinal's existing Bradford field. The prospect was acquired for $20,000 on December 31, 2014. The lease is also located within a couple of miles of Cardinal's Albany, Texas field operations facility in Shackelford County, Texas. Cardinal is in the process of securing drilling permits for the 20 new locations that the geologist has identified in the formation. Cardinal pursued this new Bradford "West" lease largely because of the success of the first Bradford Lease acquired in 2014.
Cardinal Energy Group, Inc.: Bradford Lease Drilling Report
Marketwired - Fri Dec 19, 6:42AM CST
Cardinal Energy Group, Inc. (OTCQB: CEGX) announces that since drilling resumed December 1st on the Bradford Lease 4 new wells have been drilled, the B #13, B #10 and the B #8. The next locations, the B #17, B #14, and A #14 are permitted and will be drilled over the next two to three weeks to complete the drilling portion of the Bradford Drilling Program, which consists of 7 existing wells and 14 new development wells. The wells are located in Shackelford County, Texas within a couple of miles from Cardinal's Albany, Texas field operations facility.
Cardinal Energy Group, Inc. Announces Earnings Conference Call Co-Ordinates
Marketwired - Wed Dec 03, 9:52AM CST
Cardinal Energy Group, Inc. (OTCQB: CEGX), an oil and gas exploration and production company with its primary assets in Shackelford County, Texas, reported financial results for the third quarter ended September 30, 2014. A conference call is scheduled for December 9, 2014 at 5PM EST. The call will be conducted by Timothy W. Crawford, CEO, and Gary B. Peterson, CFO.
Cardinal Energy Group, Inc. Announces its First Profitable Quarter
ACCESSWIRE - Wed Nov 19, 9:01AM CST
Third Quarter Operating Income of $234,000 is an Increase of $529,000 from the Third Quarter of 2013
