Craft Oil closed the sale of its Grand Prairie assets to Cardinal Energy on March 17 for $4.0 million in cash and 4.0 million shares. The disposition completes the sale of all of Craft’s assets, following last month’s sale of assets in the Judy Creek and Thornbury-Portage areas of Alberta to Point Loma Resources for $1.6 million. The light oil assets Cardinal acquired produced ~1,625 boe/d (36% oil and NGL) in 4Q16 and are......
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