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. Thus, we think it is best avoided now. selection of stocks like Camber Energy Inc. Will Camber Energy Inc stock price fall? Based in Houston, Texas, Camber Energy (NYSE American: CEI) is a growth-oriented, independent oil and gas company engaged in the development of After working to consummate a deal for several years, Camber Energy and Viking Energy Group have finally reached a new agreement to fully combine. This article is meant for informational and educational purposes only and does not provide investment advice. In terms of Value grade, the company has an F, which is reflective of its premium valuation. Leaders are starting to outline when they will show results. 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. 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. 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. According to our analysis, this can happen. How will Camber Energy Inc stock price increase? 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 In order to develop the significant reserves at its disposal, the company believe that the company must become, or become part of, a larger organization with ample cash flow and greater access to capital. This article is meant for informational and educational purposes only and does not provide investment advice. Also, its trailing-12-month. wrote this article ourselves and it expresses our own opinions. Camber and Viking reached another merger agreement in February 2021. Insider Financial focuses solely on short-term high probability trade opportunities. 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. And CEI's 26.65x trailing-12-month Price/Sales is 1,770% higher than the 1.43x industry average. 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. This justifies the stock's relatively high 1.29 beta. Energy news, analysis, interviews, and exclusive coverage you need to keep your industry edge. 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. Get our PREMIUM Forecast Now, from ONLY $7.49! If you follow a company closely and would like to share your knowledge, we would love your contributions. 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. Not within a year. Camber Energy and Viking agreed to merge on February 3rd and then the COVID-19 pandemic swept across the nation. While actively pursuing specific exploration and development activities in the Mid-Continent area, the company may not be able to close future acquisitions for a variety of reasons, new drilling opportunities may not be identified and any new drilling opportunities identified may not be successful if drilled. Oil prices collapsed and lockdowns drove the US economy to halt. 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. This article is not a solicitation or recommendation to buy, sell, or hold securities. WebCamber Energy, Inc. is an independent oil and natural gas company. This acreage, part of the Companys Jackrabbit acreage, targeted the San Andres formation in the Permian Basin. On March 20, Camber announced it had addressed legacy accounting issues that allowed the company to resume negotiations on the merger. Reproduction in whole or in part, in any form or medium without express written permission is prohibited. This concept is now being used throughout the Mid-Continent to produce large quantities of oil and gas, and has recently been applied with increasing success to the San Andres formation in West Texas. 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 post Is Camber Energy a Buy Under $1? Camber Energy, Inc., (CEI) a Nevada corporation, is an independent oil and natural gas company based in San Antonio, Texas. For more information, please visit the company's website at www.camber.energy. 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. * Our share forecasts and predictions are made by, Cryptocurrency News, Crypto, Stock, Forex Predictions, Forecasts & Charts Viking also holds an exclusive license in Canada to a patented carbon-capture system. The company owns oil and gas leases in Texas, Louisiana, Mississippi and Kansas. Let's find out. Under an amended merger agreement dated April 18, a subsidiary of Camber will merge with and into Viking, with Viking surviving as a wholly owned subsidiary of Camber. Camber upped its stake in Viking in 2021, purchasing an additional 27.5 million Viking shares for $11 million. These properties include interests in four different fields, of which one is operated by Camber and the other three are non-operated. CEI's trailing-12-month revenue came in at $264,160 . For more information, please visit the company's website at www.camber.energy. CEI forecast, Ricky_Stock_Bobby However, given investor concerns related to the company's Form 10-K filing delinquency and the potential for the company to face NYSE delisting procedures, is it worth betting on the stock at the current price level? Among the lessons below: the brilliance of a "treasure hunt merchandising philosophy.". CEI holds interests in active oil & gas properties in the onshore Gulf Coast region. Multiple local clean energy companies have landed rounds of $500 million or more recently. Following several years of negotiations, Camber Energy and its majority-owned subsidiary Viking Energy Group have finally inked an agreement to merge. 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. -89.8046%. (Source: Shutterstock). The pages created by the user or by XWiki extensions on behalf of the user. 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. 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"). In September 2017, Rogers foreclosed on the assets of CATI which secured the note. Also refer for more: Coal India share price target. In West Texas, the Company had 209 /2,253 (net / gross) acres. Income from operations was $1.00 million as compared to $2.31 million in Q-2, 2019. The monthly fee may be reduced to the extent the Company retains employees to perform certain of the functions contemplated to be performed by Enerjex. Camber Energy, Viking Reach New Agreement to Merge, Meritorious Awards for Engineering Innovation (MEAs), Meritorious Awards for Engineering Innovation (MEA), TotalEnergies Eager to Dip into Suriname Oil Pool, California Resources Appoints New CFO Molina, Molecular Transformation: Exxon Mobil Tackles the Energy Transition, SLB, Baker Hughes, Halliburton Primed for Middle East Boom. 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. 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. The Company is also executing on an aggressive growth strategy by building on the platform and technical capacity created by its recent asset acquisitions described below. Vantage was granted a second lien on the Jackrabbit property in connection with the financing. Camber Energy, Inc. (Camber) is a growth-oriented, diversified energy company. Through its majority-owned subsidiary, Viking Energy Group, Inc., Camber owns interests in oil and natural gas assets in the Gulf Coast and Mid-Continent regions. Here are the highlights: Viking shareholders are on board with the merger. We are not receiving compensation for it. Additional details regarding the Initial Acquisition were included in Camber's and Viking's Current Reports on Form 8-K filed with the SEC on December 24, 2020 and December 28, 2020, respectively, and are available under "investors" - "SEC filings" at www.camber.energy and www.vikingenergygroup.com. Viking issued 53,219,677 common shares in connection with the debt conversions. $3.2 million). This site is funded and maintained by Fintel.io. appeared first on StockNews.com. Includes modified extension pages (usually configuration pages). CEI has an overall F rating, which translates to a Strong Sell in our. Through its majority-owned subsidiary, Viking Energy Group, Inc. (Viking), or 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. 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 $39 Million in Transactions Closed Since Dec. 23/20. We are leveraging our expertise and relationships to build a diversified organization with profitable business segments to increase stakeholder value. Contact InformationInvestors and Media:Tel. 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. The oil and gas resides in pore spaces of conventional subsurface rock formations and is held in place by the pressurized water. Net Loss was($17.67million), as compared to net income of $1.29 million in Q-2 2019, the majority of which is attributable to a change in the fair value of the Companys derivates (i.e. Below you will find the stock price predictions for 2023, 2024. Should However, the collapse in energy prices and the COVID-19 pandemic have wreaked havoc on its business plans, including the planned merger with Viking. 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). 0.138 USD . This press release may contain forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. 2023-05-01 - CEO Darren Woods discusses Exxon Mobils expansion plans in the Lower 48 and managing the energy transition in Hart Energys The OGInterview. One of the requirements is a $1 minimum share price for 30 days. CEI - Camber Energy Inc Stock quote - CNNMoney.com Markets The biggest All rights reserved. Once that happens, shareholders can vote and the merger will be completed. CEI's trailing-12-month revenue came in at $264,160 . 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. The effective date of the Release was December 15, 2017. 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. CEI stock price prediction, 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). 1.350 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. However, its trailing-12-month gross loss stood at $19,000, while its operating loss came in at $4.2 million. 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. WebOVERVIEW. 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. Read fore more: Google price forecast/ Predication, Your blog is to good for my knowledge. WebCamber Energy, Inc. (Camber) is a growth-oriented, diversified energy company. Current Assets were$9.21million, as compared to $7.84 million in Q-1 2019. 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 net proceeds from the sale to the Company totaled $25,914. In addition, the company will evaluate the property to determine whether it conforms to its experience and technical expertise. Camber Energy is actively conducting workovers and subject to raising the balance of the funds due in connection with the October 2017 Purchase Agreement, which is subject to certain closing conditions described herein, the Company intends to drill wells, acquire producing/non producing properties at value prices and participate in joint ventures with industry partners with the goal of enhancing production and cash flow. When will Camber Energy Inc price drop? 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. As the company consider producing properties, the company plan to prioritize those with cash flow returns near its current assets that can substantially improve its bottom line. brijesh-patel The wonder full post. We are not receiving compensation for it. 2023 Hart Energy. The prediction says for February 2019. In the past decade, Texas renewable energy and storage capacity surged by about 44,000 megawatts, according to the states grid operator. The Company intends to enter into an agreement with a joint venture partner within the (AMI) with the plan to initiate a drilling program on this acreage, targeting the San Andres formation, during the first half of 2018, subject to the transaction closing by year end. 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). By pursuing adjacent or nearby properties, the company plan to expand its acreage footprint and capitalize on cost efficiencies. Camber purchased interests in oil and gas assets from private operators for $69 million late last year. Camber Energy Inc projections, stock price predictions may be different due to the different analyzed time series. The remaining West Texas acreage is acquired leasehold located on the Central Basin Platform of the Permian Basin, which was announced by the Company as part of its entry in the emerging Horizontal San Andres play. Camber operations are all crude oil and natural gas exploration and production related. Of the company's floating shares,14.3% have been sold short. CEI stock future price, Also refer for more: Coal India share price target. Its shares have jumped 68.4% in price over the past five days due to heavy discussion about it on Reddit and Twitter and the consequent bullishness of retail investors. The Vantage Agreement contained customary indemnification requirements. Learn about theses six powerful time management strategies you can implement in a hybrid or remote workplace. Viking targets undervalued assets with realistic appreciation potential. Approximately 72% of Boe was proved producing. Register Now and start editing! CEI forecast tomorrow, How Does Camber Energy (CEI) Stack Up Against its Peers? Specifically, the company prefer relatively shallow (less than 10,000 feet) formations that require horizontal drilling techniques and significant surface infrastructure management, and Camber Energy is currently evaluating several opportunities to expand its asset acreage. We have no business relationship with any company whose stock is mentioned in this article. Camber Energy Takes A Giant Step Forward To Becoming A Much Larger Company By Finalizing Acquisition Of Viking Energy ($CEI) Published: April 27, 2023 at 5:42 a.m. 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. Enerjex will receive a fee of $150,000 per month for services rendered, plus any pre-approved out of pocket travel expenses. 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. Once online, the project will have an estimated capacity of around 43 million gallons of renewable diesel annually. 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. If you are looking for stocks with good return, Camber Energy Inc stock Term Box: 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. On September 4, 2020, Camber filed with the SEC, an amended Registration Statement on Form S-4, including a preliminary joint proxy statement relating to the planned merger, which addressed SEC comments that Camber had received on the original Form S-4 which was filed on June 4, 2020. future. 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. The company's trailing-12-month gross profit margin and cash from operations are negative 0.5% and $2.09 million, respectively. Louis G. Schott, Interim CEO of Camber, stated: Camber is extremely excited about the planned Merger. The company was formerly known as Lucas Energy. Help us improve our free forecast service with share! CEI stock price predictions 2023, 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.
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