August 18, 2011
Cardinal Energy Group unveils their new website.
About Cardinal Energy Group
Cardinal Energy Group is a company comprised of specialized energy experts, with over 150 years of combined industry experience, who have worked together for several years. We are focused on growth through the reworking of marginal Oil & Gas wells in mature but marginally producing fields that have significant proven reserves yet to be produced.
Thousands of mature oil and gas fields across the lower 48 states encompass hundreds of thousands of marginal wells, commonly referred to as "stripper" wells - wells that produce less than 15 barrels per day of crude oil. Few lay people realize the importance of these wells and the significance to domestic crude oil and natural gas supplies. Marginal wells produced more than 335 million barrels of oil in the Untied States in 2006. That is equivalent to more than 60 percent as much as the United States imports annually from Saudi Arabia.
Our strategy consists of acquiring previously drilled wells throughout the Appalachian Basin which have been drilled to the reliable Clinton Sandstone formation and other prolific formations. Newer production theories and technology make it possible to re-enter these older wells to recover the stranded reserves. In addition to remediating or reworking the existing wells we continue to further develop the field by drilling and completing new wells adjacent to the existing wells, thus increasing the overall production of a given field.
We are highly focused on the selection of undervalued assets, over-leveraged companies where there is a clear upside from their purchase, the commodity price increase and the application of a calculated exploitation strategy.
Cardinal Energy Group has a dedicated, experienced team with the requisite expertise and track record necessary to maximize value in the current market.