Premier(US:PINC) Newsfileยท2025-10-06 21:36Core Viewpoint - Cardinal Energy Ltd. has inaugurated its Reford Steam-Assisted Gravity Drainage (SAGD) oil project in Saskatchewan, marking a significant milestone for the company and the province [1][4]. Company Developments - The Reford SAGD project has a production capacity of 6,000 barrels per day (bbl/d) and is expected to generate long-term benefits, including job creation and increased economic activity in the local community [3][5]. - The project is anticipated to provide decades of predictable royalty revenue for the Province of Saskatchewan, enhancing the province's economic stability [3][7]. Industry Impact - Premier Scott Moe emphasized that investments like the Reford project strengthen Saskatchewan's economy and support the goal of producing 600,000 barrels of oil per day by 2030 [4][5]. - The project is seen as a demonstration of the leadership of western Canadian companies in the energy sector, reinforcing Saskatchewan's position as a reliable source of sustainably produced energy [4][5]. Future Outlook - Cardinal Energy's Chairman & CEO, Scott Ratushny, expressed optimism about the project, highlighting its potential to improve production, cash flow, and corporate break-even costs, while also providing insulation against volatile oil prices [5][7]. - The company plans to advance additional thermal projects in Saskatchewan as market conditions allow, further enhancing its long-term outlook [5][7].