The company intend to expand its footprint in the Central Basin Platform and with a JV partner, begin drilling in this area during end 2018, funding permitting. The companies are now awaiting further comments on Form S-4 from the SEC, which the parties anticipate being minor if any are received at all, and/or approval of the SEC to move forward with finalizing the Form S-4. It also includes material acquisitions of leasehold or production in new areas. Camber believes that it has certain advantages in initiating a development program in the San Andres. Not within a year. Based in Houston, Texas, Camber Energy (NYSE American: CEI) is a growth-oriented, independent oil and gas company engaged in the development of But those plans were terminated that December after Camber purchased a 51% stake in Viking for $10.9 million in cash and the cancelation of a $9.2 million loan. The company's primary value drivers are its reserves which must be developed to unlock their full potential. Is Camber Energy Inc price going up? CEI prediction, This article is not a solicitation or recommendation to buy, sell, or hold securities. came in at a negative $5.15 million, while its free cash flow stood at a negative $2.09 million. Here's what could influence CEI's performance in the near term: Last month, CEI announced the acquisition of a 60.5% interest in Simson-Maxwell Ltd., a leading manufacturer and supplier of industrial engines and other energy solutions, through its majority-owned subsidiary. The wells are operated by Vikings subsidiary, Petrodome Operating, LLC, a licensed operator in Texas,Louisiana,andMississippi, and produce hydrocarbons from known reservoirs/sands in the on-shoreGulf Coastregion, including theHackberry, Yegua, Wilcox, Amphistegina, and Robira. Doris will serve as president and CEO of the combined company following the merger, per the new agreement. The company's third initiative for growth is the acquisition of production and acreage near its existing operations. wonder full post. 1.350 hedging contracts) during the quarter. After all, Camber Energy operates in the geopolitically volatile oil and natural gas industry as a homegrown player. Read fore more: Google price forecast/ Predication, Your blog is to good for my knowledge. With the closing of its asset acquisition in August 2016, the Company acquired estimated proved reserves of 6.3 million Boe, of which 0.2 million Bbls were crude oil reserves, 14.8 billion Bcf were natural gas reserves and 3.7 million Bbls were natural gas liquids. Through its majority-owned subsidiary, Viking Energy Group, Inc. (Viking), or We have no business relationship with any company whose stock is mentioned in this article. On October 3, 2017, the trustee of those assets, for the benefit of the lender, sold these assets in public auction foreclosure sales which took place in Gonzales County and Karnes County, Texas. Following several years of negotiations, Camber Energy and its majority-owned subsidiary Viking Energy Group amended an agreement to merge. The Company entered into a nonbinding letter of intent in November 2017, to acquire a 95% net working interest position in 3,220 net acres in Yoakum County, Texas, within a 6,000 acre area of mutual interest (AMI) in the Permian Basin. Imon Ghosh If you have an interest in the lucrative microcap sector, sign up to Insider Financial today! Short-term and long-term CEI (Camber Energy Inc) 2023-05-01 - Heres a roundup of the latest E&P headlines, including a new subsea tieback beginning production in the Norwegian Sea, new contract awards and an updated agreement regarding oil spill preparedness offshore Alaska. In August, Viking reduced its overall debt by approximately $7,808,661. If the closing of the merger occurs (the Closing), the Viking equity holders prior to the merger will own approximately 80% of Cambers fully-diluted common stock immediately after the merger, and the Camber equity holders prior to the merger shall own approximately 20% of Cambers fully-diluted common stock immediately after the merger. Camber has assessed its portfolio of opportunities and is currently performing workovers on acquired wells while assessing additional opportunities to acquire temporarily abandoned or underproducing assets in the MidContentent and Central Basin Platform, funding permitting. Will Camber Energy Inc stock price fall? When will Camber Energy Inc price drop? This balanced approach can expedite growth while reducing dependence on any particular division. Since closing the acquisition of the Segundo Hunton dewatering assets in August 2016, the Company has sought an opportunity to expand its dewatering expertise to another productive formation. While CEI's shares have been rallying based on retail traders' interest, news related to the company's delay in filing its Form 10-K and the NYSE's monitoring of the delays have raised investors' concerns about the stock. WebHOUSTON, TX / ACCESSWIRE / May 24, 2021 / Camber Energy, Inc. (NYSE American:CEI) ("Camber" or the "Company"), an independent oil and gas company, Camber Energy Inc real time quote is equal The larger companies tend to have access to more favorable debt financing, receive greater analyst coverage, trade with greater liquidity and consequently, often have higher share prices. Camber Energy is engaged in the acquisition, development and sale of crude oil, natural gas and natural gas liquids from various known productive geological formations, including from the Hunton formation in Lincoln, Logan and Payne Counties, in central Oklahoma; the Cline shale and upper Wolfberry shale in Glasscock County, Texas; and recently in connection with its entry into the Horizontal San Andres play on the Central Basin Platform of the Permian Basin in West Texas announced on January 3, 2017. Multiple local clean energy companies have landed rounds of $500 million or more recently. Camber Energy, Inc. (Camber) is a growth-oriented, diversified energy company. This site is funded and maintained by Fintel.io. The Glasscock County, Texas properties produce oil and gas primarily from the Wolfberry, Cline and Fusselman formations and are all non-operated. With 5% of the float short, we also expect a nice short squeeze to help make $1 and above an easy target. Effective December 4, 2017, Enerjex and the Company mutually agreed to terminate the Service Agreement. Camber purchased interests in oil and gas assets from private operators for $69 million late last year. While there's a widely-held belief that three days a week in the office is the magic number, with a number of large companies adopting it, it's a fundamentally flawed approach. Camber upped its stake in Viking in 2021, purchasing an additional 27.5 million Viking shares for $11 million. The ultimate success of each transaction will be significantly dependent upon arriving at acceptable terms and the availability of capital, which may not be available on favorable terms, if at all. Beyond the grades I've highlighted, one can check out additional CEI ratings for Sentiment, Growth, and Momentum here. Camber Energy Takes A Giant Step Forward To Becoming A Much Larger Company By Finalizing Acquisition Of Viking Energy ($CEI) Published: April 27, 2023 at 5:42 a.m. Currently there seems to be a trend where stocks in the Energy Mining, Quarrying, and Oil and Gas Extraction sector (s) have been popular in this period. This acreage, part of the Companys Jackrabbit acreage, targeted the San Andres formation in the Permian Basin. CEI shares fell $0.83 (-100.00%) in premarket trading Tuesday. On July 17, 2017, Vantage provided $120,000 to the Company under the Vantage Note and on July 20, 2017, Vantage provided $30,000 to the Company under the Vantage Note. Ricky_Stock_Bobby On August 2, 2017, and effective June 13, 2017, the Company entered into an agreement with Vantage Fund, LLC (Vantage and the Vantage Agreement), pursuant to which Vantage agreed to provide up to $6 million of funding to the Company, in the sole discretion of Vantage, with $400,000 provided in the initial tranche (the Initial Tranche). Here's Why. Also refer for more: Coal India share price target. Always do your own research and make your own investment decisions. The Camber Energy stock price may drop from I can't understand about google price goes 000. Joel Holland, CEO of Harvest Hosts, grew the company's membership from 6,000 to more than 250,000 since 2018. Should Currently trading at less than $1, shares of diversified energy and power solutions company Camber Energy have been rallying thanks to recent social m By The companies did not provide an estimated closing date. Furthermore, the company's poor cash balance and negative profit margin are not in sync with its stock's current valuation. On November 9, 2017, the Company (through its subsidiary, Camber Permian LLC) and NFP Energy LLC (NFP), its joint venture partner, sold oil and gas properties totaling approximately 2,452 acres in Gaines County, Texas, to Fortuna Resources Permian, LLC (Fortuna), for $1,000 per acre or an aggregate of $2,206,718 payable to the Company (with $245,213 payable to NFP), pursuant to the terms of a letter agreement (the Sale Agreement) and an Assignment, Bill of Sale and Conveyance to Fortuna, both dated November 9, 2017 and effective November 1, 2017. Camber Energy and Viking agreed to merge on February 3rd and then the COVID-19 pandemic swept across the nation. WebAccording to present data Camber Energy's CEI shares and potentially its market environment have been in a bullish cycle in the last 12 months (if exists). The prediction says for February 2019. Viking targets undervalued assets with realistic appreciation potential. For more information, please visit the company's website at www.camber.energy. The company owns oil and gas leases inTexas,Louisiana,Mississippi, and Kansas. Approximately $6,102,679 of the reduction was achieved, through a series of separate transactions, via the conversion of all or a portion of amounts owing by the Company to certain stakeholders into common stock in the capital of Viking. At December 31, 2017, Cambers total estimated proved producing reserves were 5.98 million barrels of oil equivalent of which 3,383,500 barrels (Bbls) were crude oil and NGL (Bbls) reserves, and 15.6 billion cubic feet (Bcf) were natural gas reserves. Broadly, Camber is targeting acquisitions in the southwest United States, inclusive of Oklahoma, Texas and New Mexico, which represent a vast array of oil and gas deposits. One Founder's Super-Sized Side Hustle Is Helping Small Businesses and It's On Track to Generate More Than $50 Million This Year, What Thomas Edison, Sarah Michelle Gellar and T.J. Maxx Can Teach You About Savvy Entrepreneurship, 6 Time Management Hacks to Regain Your Energy, AI Could Eliminate Millions of Jobs By 2027, but Cognitive Skills Are Increasingly Important for Employers. But CEI's stock had declined 10.4% in price year-to-date and 40.5% over the past six months, reflecting investor concerns over the NYSE's notification that the company did not comply with the Exchange's continued listing standards. Sen. Eric Schmitt, R-Mo., says Republicans will hold Energy Secretary Jennifer Granholm's "feet to the fire" after committing that "no money" will flow to "countries of concern" like China. February 2022 6.174 51.877 0.464 51.877 88.1 % , lolzzz look how they calculate min in .46 max 51 they r ediots cheap how is that posible, I have a question on the forecastfor CEI. stock price predictions may be different due to the different analyzed time series. Will CEI price go up? Louis G. Schott, Interim CEO of Camber, stated: Camber is extremely excited about the planned Merger. Camber, a diversified energy player with non-operated oil and gas interests and other investments, has worked to combine with Viking, a commercial and industrial energy and power services provider, since at least 2020, having already owned a majority stake. If you are looking for stocks with good return, Camber Energy Inc stock CEI has an overall F rating, which translates to a Strong Sell in our POWR Ratings system. As always, good luck to all (except the shorts)! Camber Energy Inc market prognosis, WebFind real-time CEI - Camber Energy Inc stock quotes, company profile, news and forecasts from CNN Business. 2023 Hart Energy. wrote this article ourselves and it expresses our own opinions. The San Andres formation, the target of its most recent purchase, is found at relatively shallow depths (4,500) and has similar attributes to the Companys dewatering Hunton play in Oklahoma. All rights reserved. Sep 7, 2021, This story originally appeared on StockNews. Camber Energy Inc analyst report, The goal is to re-meet the initial listing standards of the NYSE American. All of the planned growth initiatives described above are subject to it having sufficient funding to complete such initiatives and cash on hand to support its operations and pay its debts as they become due. After working to consummate a deal for several years, Camber Energy and Viking Energy Group have finally reached a new agreement to fully combine. We are not receiving compensation for it. change will be The company operate and invest in areas that are known to be productive, with a reasonably established production history, in order to decrease geological and exploratory risk. With the closing of the Acquisition in October 2016, the Company acquired over 13,000 net acres in producing fields located primarily in the Mid-Continent region of Oklahoma including Payne, Lincoln and Logan Counties, along with a small amount of interest in production located in Glasscock County, Texas. CEI's trailing-12-month revenue came in at $264,160 . This transaction did not close and the letter of intent was terminated. CEI has an overall F rating, which translates to a Strong Sell in our. Reproduction in whole or in part, in any form or medium without express written permission is prohibited. In this article, we take a look at Camber Energy and the risk/reward opportunity. bad, high-risk 1-year investment option. In West Texas, the Company had 209 /2,253 (net / gross) acres. The Mid-Continent assets produce from a liquids-rich, gas reservoir known as the Hunton formation. Adjusted EBITDA for the six-month period ending June 30, 2020, was $10.05 million, as compared to $10.34 million for the six-month period ending June 30, 2019. While CEI has an overall F rating in our proprietary rating system, one might want to consider taking a look at its industry peers, SilverBow Resorces, Inc. (SBOW) and Baytex Energy Corp. (BTEGF), which have an A (Strong Buy) rating. The company's production sales totaled 158,555 barrels of oil equivalent, net to its interest, for the nine month period ended December 31, 2017. Camber Energy Inc stock forecast, Also refer for more: Coal India share price target. As of December 31, 2017, Camber was producing an average of approximately 869 net barrels of oil equivalent per day (Boepd) from over 100 active well bores. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties related to the fluctuation of global economic conditions or economic conditions with respect to the oil and gas industry, the COVID-19 pandemic, the performance of management, actions of government regulators, vendors, and suppliers, our cash flows and ability to obtain financing, competition, general economic conditions and other factors that are detailed in Camber's and Viking's respective filings with the Securities and Exchange Commission. Furthermore, the company's net loss amounted to $13.24 million. On December 15, 2017, CATI entered into a Release of Mortgage, Deed of Trust, Assignment, Security Agreement, Financing Statement and Fixture Filing (the Release) with Rogers. - Try Now Risk-Free - Money-back guarantee! Oil prices collapsed and lockdowns drove the US economy to halt. Check-in with Cambers President & CEO, James Doris, as he provides insight into the companys operations, structure and growth strategy. (Source: Shutterstock). to 1.350 USD at 2023-05-02, but your current investment may be devalued in the By comparison, fossil Incorporated in Nevada in December 2003 under the name Panorama Investments Corp., the Company changed its name to Lucas Energy, Inc. effective June 9, 2006 and effective January 4, 2017, the Company changed its name to Camber Energy, Inc. $39 Million in Transactions Closed Since Dec. 23/20. Specifically, the company prefer relatively shallow (less than 10,000 feet) formations that require horizontal drilling techniques and significant surface infrastructure management, and Camber Energy is currently evaluating several opportunities to expand its asset acreage. As of the end of 2022, Camber owned approximately 60.9% of Vikings outstanding common shares, according to regulatory filings. Additionally, the remaining leasehold and ownership of CATI was assigned to Arkose Lease Partners, L.L.C., a third party (Arkose), pursuant to an Assignment of Membership Interest (the Assignment), dated November 1, 2017, in exchange for Arkoses assumption of all plugging and abandonment liabilities of CATI of approximately $1.8 million. The company's trailing-12-month gross profit margin and cash from operations are negative 0.5% and $2.09 million, respectively. HOUSTON, TX / ACCESSWIRE / January 14, 2021 / Camber Energy, Inc. (NYSE American:CEI) ("Camber" or the "Company") is pleased to announce the completion of another deal with its majority-owned subsidiary, Viking Energy Group, Inc. (VKIN) ("Viking"), pursuant to which Camber purchased $18.9 million worth of common stock of Viking. Aside from its deal with Viking, Camber has pursued other M&A in recent months. This article is not a solicitation or recommendation to buy, sell, or hold securities. The company was formerly known as Lucas Energy. I always refer your site before writing. Viking is an independent exploration and production company focused on the acquisition and development of oil and natural gas properties in theGulf Coastand Mid-Continent region. Viking is an independent exploration and production company focused on the acquisition and development of oil and natural gas properties in the Gulf Coast and Mid-Continent region. Information on assets, buyers and sellers, deal values, and more. How will Camber Energy Inc stock price increase? It engages in the acquisition, development, and sale of crude oil and natural gas from USD today. The Release, which was filed in various counties in Texas on January 22, 2018 and January 23, 2018, discharged approximately $5.8 million in principal and interest outstanding and owed to Rogers, according to Rogers. 281.404.4387 (ext.3)E. ir@camber.energy, View source version on accesswire.com: https://www.accesswire.com/624268/Camber-Energy-Inc-Extinguishes-189M-of-Total-Debt, https://www.accesswire.com/624268/Camber-Energy-Inc-Extinguishes-189M-of-Total-Debt, Asia Stocks Rise on Hong Kong; Traders Wait on Fed: Markets Wrap, Factbox-Long-serving Qantas executive Vanessa Hudson named as next CEO, Oil Holds Loss Amid Concerns Over Chinese Demand, Banking Woes, Japan, South Korea hold first finance leaders' meeting in 7 years, Milken Latest: Saudis Look to Diversify Economy Beyond Just Oil. Under the terms of the Service Agreement, Enerjex will be responsible for performing all back-office services for the Company, including all data entry and bookkeeping, financial reporting, management reporting, reserve reporting, SEC compliance, audits, filings, and any other services required to maintain the Companys good standing with all local, state, and federal laws. Best Camber Energy Inc forecast, Multiple local clean energy companies have landed rounds of $500 million or more recently. Camber Energy, Inc. (Camber) is a growth-oriented, diversified energy company. Get our PREMIUM Forecast Now, from ONLY $7.49! Approximately 97% of the Central Oklahoma acreage is held by production (HBP). CEI stock future price, Entrepreneur and its related marks are registered trademarks of Entrepreneur Media Inc. Bad Weather Won't Ruin Your Vacation Anymore , Retirees Are Earning Up to $20,000 Per Month With. As of December 31, 2017, the Company had leasehold interests (working interests) covering approximately 13,776 net acres underlying a total of 56,436 gross acres in its two core regions, Central Oklahoma and West Texas. We are pleased to have the unanimous support from the members of the board of directors of each company to take these next steps, and believe combining Camber's national stock exchange platform with Viking's diversified portfolio of innovative technologies and other important energy-related initiatives will be a significant benefit to all stakeholders and allow the organization to more efficiently execute its growth strategy, Doris said at the time. Camber Energy is trading in a confirmed downtrend with the most recent lower low made on Oct. 6 at 86 cents and the most recent lower high of $2.45 made on Oct. 8. Constance Dierickx, Ph.D., says it's tempting to rely on others when you're under stress but it can be a big mistake. 2023-05-01 - TotalEnergies CEO Patrick Pouyann says the company has been eying a low oil-to-gas ratio in Suriname in order to have an efficient development.
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