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. Register Now and start editing! Additionally, the Company and NFP jointly terminated their venture. 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. 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 POWR Ratings are calculated by considering 118 different factors, with each factor weighted to an optimal degree. ), which is headquartered in Houston, Tex., is focused on the acquisition, development, and sale of natural gas, crude oil, and natural gas liquids in the Cline shale and upper Wolfberry shale in Texas. 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. Viking targets undervalued assets with realistic appreciation potential. 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. 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. Read fore more: Google price forecast/ Predication, brijesh-patel Our proprietary rating system also evaluates each stock based on eight different categories. ThanksYou can refer for more: Kotak Mahindra bank Blue Hat Interactive Entertainment (BHAT) Stock Forecast, AMC Entertainment Holdings Inc (AMC) Stock Forecast, Microsoft Corporation (MSFT) Stock Forecast, Meta Platforms Inc. 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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). bad, high-risk 1-year investment option. Aside from its deal with Viking, Camber has pursued other M&A in recent months. Camber believes that it has certain advantages in initiating a development program in the San Andres. In September 2017, Rogers foreclosed on the assets of CATI which secured the note. Help us improve our free forecast service with share! CEI has an overall F rating, which translates to a Strong Sell in our POWR Ratings system. Your blog is to good for my knowledge. Viking targets undervalued assets with realistic appreciation potential. Camber Energy to Acquire Private Companies Oil Wells for $69 Million. This acreage, part of the Companys Jackrabbit acreage, targeted the San Andres formation in the Permian Basin. 2023-04-30 - A bevy of projects in the Middle East promises a boom in future revenues for SLB, Baker Hughes and Halliburton. 2023 Hart Energy. For more information, please visit the company's website at www.camber.energy. WebCamber Energy, Inc. (Camber) is a growth-oriented, diversified energy company. Duke Energy says the capacity-sharing plan would cut operating costs, and those savings would go back to customers. Should the deal go through as amended, Viking shareholders would receive one share of Camber common stock in exchange for each share of Viking common stock, the companies said in an April 19 statement. Effective December 4, 2017, Enerjex and the Company mutually agreed to terminate the Service Agreement. It has been more than three weeks since the NYSE American Exchange sent Camber Energy (NYSEAMERICAN: CEI) a letter saying that it wasnt compliant with the The goal is to re-meet the initial listing standards of the NYSE American. 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. 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). 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. 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. selection of stocks like Camber Energy Inc. Multiple local clean energy companies have landed rounds of $500 million or more recently. 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. No Spam. CEI shares fell $0.83 (-100.00%) in premarket trading Tuesday. Camber Energy Inc market prognosis, 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. WebCamber Energy, Inc. is an independent oil and natural gas company. Both the Hunton and San Andres are carbonates with relatively high water saturations where the production profile appears to be optimized by a dewatering and depressurizing process. 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. Joel Holland, CEO of Harvest Hosts, grew the company's membership from 6,000 to more than 250,000 since 2018. 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. Many penny stock investors are asking whats the story withCamber Energyafter the stock jumped 53% on Tuesday. 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 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. As a simplified explanation, dewatering occurs in formations with high water saturations, greater than 50%. Furthermore, its ROE, ROA, and ROTC stood at negative 274.3%, 50.4%, and 13.8%, respectively. Once Camber has cleared comments from the SEC on the Form S-4, the parties plan to promptly move forward with setting the record dates for their special meetings to seek stockholder approvals for the merger and other items set forth in the joint proxy statement/prospectus included in the Form S-4. The company's growth plan includes the development and enhancement of existing production, in addition to the drilling of new wells on its acreage. Camber and Viking reached another merger agreement in February 2021. 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. brijesh-patel CEI prediction, (Source: Shutterstock). Camber Energy has recently made significant strides in improving production from its existing fields where its barrel of oil equivalent per day rates have risen from 850 barrels of oil equivalent per day (Boe/d) in September 2016, its first month of operating the Oklahoma property, to a December 2016 rate of 1,054 Boe/d. Camber will remain the sole publicly traded company following the combination, according to the agreement between the two Houston-based firms. 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. Multiple local clean energy companies have landed rounds of $500 million or more recently. 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% A new report by the World Economic Forum found that nearly 2% of current roles could disappear by 2027. We intend that all forward-looking statements be subject to the safe-harbor provisions. The company's primary value drivers are its reserves which must be developed to unlock their full potential. USD today. CEI stock future price, 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. Camber Energy Inc analyst report, WebHOUSTON, TX / ACCESSWIRE / May 24, 2021 / Camber Energy, Inc. (NYSE American:CEI) ("Camber" or the "Company"), an independent oil and gas company, Revenues were$9.55million as compared to $8.73 million in Q-2 2019. Following several years of negotiations, Camber Energy and its majority-owned subsidiary Viking Energy Group amended an agreement to merge. 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. We are leveraging our expertise and relationships to build a diversified organization with profitable business segments to increase stakeholder value. 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. At the moment, Camber Energy owns a 70% interest in the company and the latter was the buyer of that carbon-capture system license. Sign Up Now For Our 100% FREE Small Cap Reports. 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. Approximately 9% of this acreage is productive from the Cline and Wolfberry formations acquired pursuant to the Segundo transaction. 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. Also, its trailing-12-month. 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. 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. Check-in with Cambers President & CEO, James Doris, as he provides insight into the companys operations, structure and growth strategy. Insider Financial focuses solely on short-term high probability trade opportunities. Insider Financial is not an investment advisor and does not provide investment advice. The pages created by the user or by XWiki extensions on behalf of the user. Leaders are starting to outline when they will show results. Camber upped its stake in Viking in 2021, purchasing an additional 27.5 million Viking shares for $11 million. As a result of the default, demand and acceleration, CATI recorded the default interest demand of $2.1 million in the three month period ended December 31, 2017. 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. (Camber) is a growth-oriented, diversified energy company. Current Assets were$9.21million, as compared to $7.84 million in Q-1 2019. Information on assets, buyers and sellers, deal values, and more. Get our PREMIUM Forecast Now, from ONLY $7.49! future. 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. How will Camber Energy Inc stock price increase? Also refer for more: Coal India share price target. Remember, this was a stock that was trading over $8 at this time last year. 2023-05-01 - Heres a roundup of the latest E&P headlines, including a new subsea tieback beginning production in the Norwegian Sea, new contract awards and an updated agreement regarding oil spill preparedness offshore Alaska. * Our share forecasts and predictions are made by, Cryptocurrency News, Crypto, Stock, Forex Predictions, Forecasts & Charts Contact InformationInvestors and Media:Tel. Camber Energy is actively conducting workovers and subject to raising the balance of the funds due in connection with the October 2017 Purchase Agreement, which is subject to certain closing conditions described herein, the Company intends to drill wells, acquire producing/non producing properties at value prices and participate in joint Among the lessons below: the brilliance of a "treasure hunt merchandising philosophy.". Camber Energy Takes A Giant Step Forward To Becoming A Much Larger Company By Finalizing Acquisition Of Viking Energy ($CEI) Published: April 27, 2023 at 5:42 a.m. How Does Camber Energy (CEI) Stack Up Against its Peers? Once online, the project will have an estimated capacity of around 43 million gallons of renewable diesel annually. Disclosure: We have no position in NYSEMKT:CEI, OTCMKTS:VKIN, or any of the securities mentioned. Production rates should increase as well from new production which is expected to ramp up in early 2018, subsequent to the completion of drilling activities the company plan to complete in early 2018, funding permitting. 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 To date, Camber and Viking have each satisfied nearly all of their respective conditions to closing the merger, provided that such merger remains subject to certain remaining conditions to closing, including, the effectiveness of the Form S-4, approval of the stockholders of each of Camber of Viking of the merger and certain of the other proposals set forth in the Joint Proxy, and approval of the NYSE American for the continued listing of Cambers common stock following the merger, which the parties anticipate requiring the combined company to re-meet the initial listing standards of the NYSE American.

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