The company owns oil and gas leases inTexas,Louisiana,Mississippi, and Kansas. Copyright 2023 Entrepreneur Media, Inc. All rights reserved. Through its majority-owned subsidiary, Viking Energy Group, Inc. (Viking), or Term Box: Many penny stock investors are asking whats the story withCamber Energyafter the stock jumped 53% on Tuesday. can be a In addition, the company will evaluate the property to determine whether it conforms to its experience and technical expertise. WebCamber Energy, Inc., an independent oil and natural gas company, engages in the acquisition, development, and sale of crude oil, natural gas, and natural gas liquids in It engages in the acquisition, development, and sale of crude oil and natural gas from various known We wrote this article ourselves and it expresses our own opinions. Camber plans to use the twenty-plus year technical evolution and knowledge of the Hunton to the San Andres formation of the Permian Basin to produce oil and gas through the dewatering process and expects to grow its initial 3,600-acre position moving forward, funding permitting. 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. Effective December 4, 2017, Enerjex and the Company mutually agreed to terminate the Service Agreement. This article is meant for informational and educational purposes only and does not provide investment advice. Help us improve our free forecast service with share! Camber Energy Inc Forecast, wonder full post. CEI's trailing-12-month revenue came in at $264,160 . In exchange for the shares of Viking, Camber agreed to issue 1,890 restricted shares of Camber's Series C Redeemable Convertible Preferred Stock to a noteholder of Viking resulting in the extinguishment of $18.9 million of debt at the Viking level. Remember, this was a stock that was trading over $8 at this time last year. Camber Energy's efforts to go green could fuel the next big move for CEI stock April 5, 2022 By Louis Navellier and the InvestorPlace Research Staff Apr 5, Camber Energy The net proceeds from the sale to the Company totaled $25,914. 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. As a simplified explanation, dewatering occurs in formations with high water saturations, greater than 50%. wrote this article ourselves and it expresses our own opinions. Camber Energy CEI holds interests in active oil & gas properties in the onshore Gulf Coast region. I always refer your site before writing. Imon is an investment analyst and journalist with an enthusiasm for financial research and writing. As always, good luck to all (except the shorts)! Camber Energy The company's growth plan includes the development and enhancement of existing production, in addition to the drilling of new wells on its acreage. Year-to-date, CEI has declined -10.11%, versus a 21.98% rise in the benchmark S&P 500 index during the same period. Of the 92 stocks in the C-rated Energy Oil & Gas industry, CEI is ranked last. $3.2 million). Historical Will CEI price drop? For more information, please visit the company's website at www.camber.energy. Our aim is to acquire a majority interest in assets or entities with current revenue streams and realistic upside potential. The acquisition and debt cancellation transactions, dated as of December 31, 2020 (collectively, the "Year End Transactions"), are separate from the $20.1 million transaction completed between Camber and Viking on December 23, 2020 (the "Initial Acquisition"). 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 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. 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. The company believe the market conditions driving it toward the need for a larger entity of greater size and financial mass are even more essential in the current environment. brijesh-patel Sign Up Now For Our 100% FREE Small Cap Reports. On November 9, 2017, in connection with the sale of the Jackrabbit Acreage, the Company paid Vantage the full amount due on the Vantage Note of $150,000. 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. Multiple local clean energy companies have landed rounds of $500 million or more recently. Cambers income comes from Viking Energy Group, a small oil-and-gas driller it bought in early 2021. When will CEI price fall? Information on assets, buyers and sellers, deal values, and more. hedging contracts) during the quarter. This article is meant for informational and educational purposes only and does not provide investment advice. WebCamber Energy, Inc. (Camber) is a growth-oriented, diversified energy company. Reproduction in whole or in part, in any form or medium without express written permission is prohibited. Thus, we think it is best avoided now. When will Camber Energy Inc price drop? WebOVERVIEW. WebFind real-time CEI - Camber Energy Inc stock quotes, company profile, news and forecasts from CNN Business. In January, Camber agreed to acquire a 100% interest in companies developing a renewable diesel processing plant. In May, CEI was notified by the NYSE American that it failed to file its Form 10-K in a timely manner for the nine months ended December 31, 2020, and therefore was not in compliance with the Exchange's listing standards. The pages created by the user or by XWiki extensions on behalf of the user. The prediction says for February 2019. 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. Will CEI price go up? Adjusted EBITDA was $3.31 million for the three-month period ended June 30, 2020, as compared to $4.62 million for the three-month period ended June 30, 2019. 2023-04-30 - A bevy of projects in the Middle East promises a boom in future revenues for SLB, Baker Hughes and Halliburton. Energy Aside from its deal with Viking, Camber has pursued other M&A in recent months. 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. Ricky_Stock_Bobby I can't understand about google price goes 000. Approximately 97% of the barrel of oil equivalent (Boe) was proved producing. Clean energy has landed major funding recently. When will we Beyond the grades I've highlighted, one can check out additional CEI ratings for Sentiment, Growth, and Momentum, 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. (, One Company Will Pay You to Enjoy It Rain or Shine, Scheme That Caused Her to Lose Her Home of 3 Decades, 15 Best Entrepreneurial Conferences You Need to Attend, Here's How to Tell And Why It Matters. By producing the water (dewatering), the pressure holding the hydrocarbon in place is lowered, the hydrocarbon expands, and transitions from a residual state to a mobile state, allowing for commercial production. Best Camber Energy Inc forecast, Camber Energy Takes A Giant Step Forward To
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