Through its majority-owned subsidiary, Viking Energy Group, Inc. (Viking), or Insider Financial focuses solely on short-term high probability trade opportunities. Approximately $1,705,982 of such reduction was on account of scheduled principal payments made on or about June 30th and July 31st by Vikings subsidiaries under senior secured credit facilities, using cash on hand in the applicable subsidiary. 1.350 Camber Energy Inc (CEI) Stock Price Today, News, Quotes, Approximately 72% of Boe was proved producing. 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. Prices for top E&P stocks and commodities. -89.8046%. CEI holds interests in active oil & gas properties in the onshore Gulf Coast region. Insider Financial is not an investment advisor and does not provide investment advice. The $3.2 million). CEI's trailing-12-month revenue came in at $264,160 . Joel Holland, CEO of Harvest Hosts, grew the company's membership from 6,000 to more than 250,000 since 2018. In addition, CEI reported a $9.750 net interest loss. Camber Energy plummets 63% after short-seller report takes the 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. 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, Camber was producing an average of approximately 869 net barrels of oil equivalent per day (Boepd) from over 100 active well bores. Bidens energy secretary makes 'important admission' over US 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. Camber Energy, Inc. (Camber) is a growth-oriented, diversified energy company. Enerjex will not be responsible for any field operations, including drilling, operating or maintaining any wells or leases, of the Company under the terms of the Service Agreement. Copyright 2023 Entrepreneur Media, Inc. All rights reserved. Camber Energy Probability Of Bankruptcy - (NYSE MKT:CEI) Camber Energy Inc projections, Camber Energy Camber Energy to Acquire Private Companies Oil Wells for $69 Million. All rights reserved. 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. 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. Short-term and long-term CEI (Camber Energy Inc) Should Our alerts consist of Nasdaq, NYSE and high quality OTC companies that are capable of delivering outsized gains to you today, not a year from now. Best Camber Energy Inc forecast, Information on assets, buyers and sellers, deal values, and more. 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. When will CEI stock price go down? Our aim is to acquire a majority interest in assets or entities with current revenue streams and realistic upside potential. Among the lessons below: the brilliance of a "treasure hunt merchandising philosophy.". Multiple local clean energy companies have landed rounds of $500 million or more recently. Camber Energy Is Going Nowhere Fast | Markets Insider 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. Viking targets undervalued assets with realistic appreciation potential. Camber Energy and Viking agreed to merge on February 3rd and then the COVID-19 pandemic swept across the nation. With the proceeds from the sale, the Company paid the 1st lien holders, including Alan Dreeben (a former director of the Company), and 2nd lien holder Vantage, thus reducing its liabilities by $1,518,924 and paid NFP $662,072 to terminate the joint venture agreement. See above. The Vantage Agreement contained customary indemnification requirements. Effective December 4, 2017, Enerjex and the Company mutually agreed to terminate the Service Agreement. Many penny stock investors are asking whats the story withCamber Energyafter the stock jumped 53% on Tuesday. Camber Energy has steered the Company to a strategic path leveraging on its expanding technical and operational dewatering expertise. Viking has a market capitalization of approximately $87 million, according to Yahoo Finance data; Camber has a market cap of about $33 million as of April 20. The oil and gas resides in pore spaces of conventional subsurface rock formations and is held in place by the pressurized water. Camber Energy With the stock perking up, we expect the $1 price to be exceeded as momentum players pile into Camber Energy. 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. The net proceeds from the sale to the Company totaled $25,914. Moreover, extinguishing the $18.9 million of debt improves the equity position of both companies. 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. For more information, please visit the company's website at www.camber.energy. Current Assets were$9.21million, as compared to $7.84 million in Q-1 2019. Clean energy has landed major funding recently. When will we CEI stock future price, Help us improve our free forecast service with share! In the past decade, Texas renewable energy and storage capacity surged by about 44,000 megawatts, according to the states grid operator. came in at a negative $5.15 million, while its free cash flow stood at a negative $2.09 million. Duke Energy says the capacity-sharing plan would cut operating costs, and those savings would go back to customers. WebOVERVIEW. 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 Also, its trailing-12-month EBITDA came in at a negative $5.15 million, while its free cash flow stood at a negative $2.09 million. I always refer your site before writing. The pages created by the user or by XWiki extensions on behalf of the user. This acreage, part of the Companys Jackrabbit acreage, targeted the San Andres formation in the Permian Basin. And CEI's 26.65x trailing-12-month Price/Sales is 1,770% higher than the 1.43x industry average. This justifies the stock's relatively high 1.29 beta. The Company maintains a 90% ownership position in the remaining 1,100 acres in the area. Its shares have jumped 68.4% in price over the past five days due to heavy discussion about it on Reddit and Twitter and the consequent bullishness of retail investors. Senior Staff Writer, Charlotte Business Journal. Leaders are starting to outline when they will show results. Camber Energy Flirts With NYSE American Delisting Camber purchased interests in oil and gas assets from private operators for $69 million late last year. We intend that all forward-looking statements be subject to the safe-harbor provisions. The goal is to re-meet the initial listing standards of the NYSE American. If you are looking for stocks with good return, Camber Energy Inc stock In Central Oklahoma the Company had 13,567 / 55,247 (net / gross) acres, most of which was acquired pursuant to the Acquisition (defined under Liquidity and Going Concern Consideration). On September 10th, Viking posted strong Q2 results. Camber Energy The proceeds from the foreclosure sales of approximately $3.5 million were applied against the outstanding indebtedness. Based in Houston, Texas, Camber Energy (NYSE American: CEI) is a growth-oriented, independent oil and gas company engaged in the development of crude oil, natural gas and natural gas liquids in Texas and Louisiana. Disclosure: We have no position in NYSEMKT:CEI, OTCMKTS:VKIN, or any of the securities mentioned. Of the company's floating shares,14.3% have been sold short. The remaining West Texas acreage is acquired leasehold located on the Central Basin Platform of the Permian Basin, which was announced by the Company as part of its entry in the emerging Horizontal San Andres play. Historical CEI forecast, This reflects the stock's negative ROE and cash flow from operations. On May 24, 2021, Viking reported that Camber Energys first quarter ended March 31, 2021 earnings per share (EPS) of -$0.13 under generally accepted No Spam. wonder full post. 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 company's trailing-12-month gross profit margin and cash from operations are negative 0.5% and $2.09 million, respectively. 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. Learn about theses six powerful time management strategies you can implement in a hybrid or remote workplace. Camber Energy Inc finance tips, 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 Forecast, wonder full post. Imon is an investment analyst and journalist with an enthusiasm for financial research and writing. Cambers income comes from Viking Energy Group, a small oil-and-gas driller it bought in early 2021. Camber Energy In terms of Value grade, the company has an F, which is reflective of its premium valuation. Your blog is to good for my knowledge. Once online, the project will have an estimated capacity of around 43 million gallons of renewable diesel annually. Will Camber Energy Inc stock price fall? In terms of trailing-12-month EV/Sales, the stock is currently trading at 332.17x, which is significantly higher than the 2.75x industry average. This article is meant for informational and educational purposes only and does not provide investment advice. The company disclosed that it could not file the report due to delays in putting together the financial information required to be reviewed by the auditor and finalizing the accounting of certain transactions. (Source: Shutterstock). This transaction did not close and the letter of intent was terminated. We have no business relationship with any company whose stock is mentioned in this article. The effective date of the Release was December 15, 2017. Read fore more: Google price forecast/ Predication, Your blog is to good for my knowledge. 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. The consideration for the Initial Tranche of funding was the assignment to Vantage of all of the Companys rights and ownership in its wholly-owned subsidiary Camber Permian II, LLC (Camber Permian) which included leaseholds and potential participation rights. The purchase price totaled CAD3.99 million (approx. 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 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. I can't understand about google price goes 000. Vantage was granted a second lien on the Jackrabbit property in connection with the financing. Vikings 2019 results, as well as its recent hedging activities, have already proved more favorable than expected. Through one of its subsidiaries, Ichor Energy, LLC, Viking owns a working interest in approximately 58 conventional, producing oil and gas wells inTexasandLouisiana and an interest in more than 30 Salt Water Disposal Wells. energy 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 selection of stocks like Camber Energy Inc. These properties include interests in four different fields, of which one is operated by Camber and the other three are non-operated. James Doris, President & CEO of the two companies commented, "This transaction further strengthens the relationship between Camber and Viking and moves us one step closer toward a full combination of the two entities. We have no business relationship with any company whose stock is mentioned in this article. Is Camber Energy Inc price going up? $39 Million in Transactions Closed Since Dec. 23/20. 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. Also, its 4.94 trailing-12-month Price/Book multiple compares with the 1.48 industry average. CEI shares fell $0.83 (-100.00%) in premarket trading Tuesday. Camber will remain the sole publicly traded company following the combination, according to the agreement between the two Houston-based firms. 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. 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. Note: Because of the historical price data of CEI (with very high volatility), the technical analysis and stock price prediction may be unrealistic! The transaction included working interests in about 169 producing wells averaging around 2,000 net bbl/d of oil, as well as non-producing wells and proved, undeveloped locations. 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. Camber plans to work diligently to grow its operations by considering strategic acquisitions that are near the region or location of its current assets, offer attractive production and cash flow returns, and/or conform to the Companys technical proficiencies. After all, Camber Energy operates in the geopolitically volatile oil and natural gas industry as a homegrown player. CEI holds interests in active oil & gas properties in the onshore Gulf Coast region. WebCamber Energy, Inc. (Camber) is a growth-oriented, diversified energy company. 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. Camber operations are all crude oil and natural gas exploration and production related. CEI prediction, * Our share forecasts and predictions are made by, Cryptocurrency News, Crypto, Stock, Forex Predictions, Forecasts & Charts A searchable database of oil and gas debt and equity offerings. 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"). Data from Fintel.io shows short interest in Camber Energy stock jumped to 24.4 million shares from 6.1 million shares in September, giving the company a 23.5% Our proprietary rating system also evaluates each stock based on eight different categories. We are leveraging our expertise and relationships to build a diversified organization with profitable business segments to increase stakeholder value. The company owns oil and gas leases inTexas,Louisiana,Mississippi, and Kansas. This balanced approach can expedite growth while reducing dependence on any particular division. Sign Up Now For Our 100% FREE Small Cap Reports. 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. CEI has an F grade for Quality. Let's find out. The POWR Ratings are calculated by considering 118 different factors, with each factor weighted to an optimal degree. The Camber Energy stock price is CEI expected stock price. The Glasscock County, Texas properties produce oil and gas primarily from the Wolfberry, Cline and Fusselman formations and are all non-operated. Also refer for more: Coal India share price target. We are not receiving compensation for it. 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. This is a great start to 2021.". Imon Ghosh A Psychologist Reveals 3 Signs You Should Walk Away From Someone Fast. , 4 Penny Stocks on the Move: BRLL BRN CEI RLFTF, Camber Energy Inc (NYSEAMERICAN:CEI) Hoping For Better Days Ahead, PharmaCyte Biotech Climbing Back Up The Charts. The ratio between the gross and net production varies due to varied working interests and net revenue interests in each well. The two companies had previously drafted a merger agreement dated Aug. 31, 2020. Through its majority-owned subsidiary, Viking Energy Group, Inc. (Viking), or subsidiaries of Viking, Camber provides custom energy & power solutions to commercial and industrial clients in North America and owns interests in oil and natural gas assets in the United States. On May 1, 2017, the Company entered into a service agreement (the Service Agreement), with Enerjex Resources (Enerjex) to outsource the management of its back-office functions for a fixed monthly fee. We wrote this article ourselves and it expresses our own opinions. One of the requirements is a $1 minimum share price for 30 days. Approximately 97% of the Central Oklahoma acreage is held by production (HBP). Year-to-date, CEI has declined -10.11%, versus a 21.98% rise in the benchmark S&P 500 index during the same period. Always do your own research and make your own investment decisions. In addition, the Company owns 1,000 net acres and operations in the emerging Horizontal San Andres play in the Central Basin Platform area of the Permian Basin (as described in greater detail below). Will CEI stock price rise? Constance Dierickx, Ph.D., says it's tempting to rely on others when you're under stress but it can be a big mistake. In addition, the company will evaluate the property to determine whether it conforms to its experience and technical expertise. wrote this article ourselves and it expresses our own opinions. This site is funded and maintained by Fintel.io. For more information, please visit the company's website at www.camber.energy. 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. The biggest Louis G. Schott, Interim CEO of Camber, stated: Camber is extremely excited about the planned Merger. Camber Energy, Viking Reach New Agreement to Merge Furthermore, the company's net loss amounted to $13.24 million. Viking targets undervalued assets with realistic appreciation potential. But the combination was delayed not due to lack of interest or desire, but because the companies needed to resolve or improve certain items, said James Doris, president and CEO of both Camber and Viking, in a March statement. 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. 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. When will Camber Energy Inc price drop? Leaders are starting to outline when they will show results. When will CEI price fall? However, its trailing-12-month gross loss stood at $19,000, while its operating loss came in at $4.2 million. 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). After closing a long-awaited deal, a Houston-based energy company's outgoing CEO reflects on how he got the deal to the finish line and the significance of Your info is never shared. energy appeared first on StockNews.com. The company owns oil and gas leases in Texas, Louisiana, Mississippi and Kansas. The company's San Andres initiative is a prime example of it moving into a new area where the required expertise fits its technical capabilities. Approximately 9% of this acreage is productive from the Cline and Wolfberry formations acquired pursuant to the Segundo transaction. The company's growth plan includes the development and enhancement of existing production, in addition to the drilling of new wells on its acreage. Energy news, analysis, interviews, and exclusive coverage you need to keep your industry edge. On January 3, 2017, Camber entered into a Lease Acquisition and Participation Agreement (Acquisition) with a privately held, Houston, Texas-based oil and gas holding company (Partner) whereby the company acquired a leasehold position in the Permian Basin in Texas, consisting of 16,300 gross, 3,600 net, mineral acres in consideration for $1.43 million, and formed an area of mutual interest (the Jackrabbit project).
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