Camber will remain the sole publicly traded company following the combination, according to the agreement between the two Houston-based firms. Year-to-date, CEI has declined -10.11%, versus a 21.98% rise in the benchmark S&P 500 index during the same period. 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. Approximately 72% of Boe was proved producing. 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. Insider Financial is not an investment advisor and does not provide investment advice. Camber operations are all crude oil and natural gas exploration and production related. Vantage was granted a second lien on the Jackrabbit property in connection with the financing. CEI - Camber Energy Inc Stock quote - CNNMoney.com Markets If the New Acquisition closes successfully, Vikings subsidiary, Elysium Energy, LLC, will acquire, directly or indirectly through its own wholly-owned subsidiaries, working interests and overriding royalty interests in oil and gas properties in Texas(approximately 71 wells in 11 counties) andLouisiana(approximately 52 wells in 6 parishes), along with associated wells and equipment. CEI - Camber Energy Inc Stock quote - CNNMoney.com - CNN Camber will remain the sole publicly traded company following the combination, according to the agreement between the two Houston-based firms. Camber Energy Inc finance tips, CEI's trailing-12-month revenue came in at $264,160 . Your adding value on me and also support me to wrote more post on my blog. Is Camber Energy Inc price going up? Based in Houston, Texas, Camber Energy (NYSE American: CEI) is a growth-oriented, independent oil and gas company engaged in the development of 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. change will be 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. 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. Beyond the grades I've highlighted, one can check out additional CEI ratings for Sentiment, Growth, and Momentum here. Note: Because of the historical price data of CEI (with very high volatility), the technical analysis and stock price prediction may be unrealistic! The Glasscock County, Texas properties produce oil and gas primarily from the Wolfberry, Cline and Fusselman formations and are all non-operated. Once online, the project will have an estimated capacity of around 43 million gallons of renewable diesel annually. Viking targets undervalued assets with realistic appreciation potential. Imon is an investment analyst and journalist with an enthusiasm for financial research and writing. In addition, the company will evaluate the property to determine whether it conforms to its experience and technical expertise. The proceeds from the foreclosure sales of approximately $3.5 million were applied against the outstanding indebtedness. 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. The company owns oil and gas leases in Texas, Louisiana, Mississippi and Kansas. Approximately 9% of this acreage is productive from the Cline and Wolfberry formations acquired pursuant to the Segundo transaction. Camber Energy Inc stock forecast, Of the company's floating shares,14.3% have been sold short. Contact InformationInvestors and Media:Tel. CEI stock price prediction, In August, Viking reduced its overall debt by approximately $7,808,661. The net proceeds from the sale to the Company totaled $25,914. Once that happens, shareholders can vote and the merger will be completed. The cure period on the Rogers Loan expired on September 11, 2017, and as of such date, all principal, interest and unpaid costs thereunder were immediately due and payable (which totaled approximately $9.4 million as of the date of acceleration which amount included $2.1 million of default interest). 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. Energy news, analysis, interviews, and exclusive coverage you need to keep your industry edge. 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. The Company maintains a 90% ownership position in the remaining 1,100 acres in the area. 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 seek to create a growth company capable of delivering on the long-expected conversion of reserves to production, continued long-term acreage development, and sustainable shareholder value. 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. Approximately 97% of the barrel of oil equivalent (Boe) was proved producing. 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. 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. Before the run-up in oil prices Viking was a classic dead I always refer your site before writing. By pursuing adjacent or nearby properties, the company plan to expand its acreage footprint and capitalize on cost efficiencies. Moreover, extinguishing the $18.9 million of debt improves the equity position of both companies. 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. When will CEI price fall? $39 Million in Transactions Closed Since Dec. 23/20. Includes modified extension pages (usually configuration pages). While commodity prices have rebounded from their lows and service costs have declined, the drilling of new wells continues to require constant economic viability evaluation. 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. 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. As of the end of 2022, Camber owned approximately 60.9% of Vikings outstanding common shares, according to regulatory filings. 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. In the past decade, Texas renewable energy and storage capacity surged by about 44,000 megawatts, according to the states grid operator. Camber Energy (CEI) Stock Forecast, Price & News 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. 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. We are not receiving compensation for it. Viking also holds an exclusive license in Canada to a patented carbon-capture system. After all, Camber Energy operates in the geopolitically volatile oil and natural gas industry as a homegrown player. came in at a negative $5.15 million, while its free cash flow stood at a negative $2.09 million. Is Camber Energy a Buy Under $1? | Entrepreneur 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. Our aim is to acquire a majority interest in assets or entities with current revenue streams and realistic upside potential. 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. It engages in the acquisition, development, and sale of crude oil and natural gas from various known 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. Camber Energy Inc projections, By comparison, fossil Camber Energy, (CEI) theunionjournal.com 2021 Stock market outlook: 'Markets are forward looking,' says Payne Capital president - The Union Yahoo Finance's Akiko Fujita and Zack Guzman speak with Ryan Payne, Payne Capital Management President, about today's market action and outlook. The ratio between the gross and net production varies due to varied working interests and net revenue interests in each well. Camber Energy Inc market prognosis, 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. 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 energy Following several years of negotiations, Camber Energy and its majority-owned subsidiary Viking Energy Group have finally inked an agreement to merge. 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. 1.350 USD to The purchase price totaled CAD3.99 million (approx. The goal is to re-meet the initial listing standards of the NYSE American. 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. Help us improve our free forecast service with share! 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. 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. Independent oil and natural gas company Camber Energy, Inc. (CEI), which is headquartered in Houston, Tex., is focused on the acquisition, development, and sale 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. 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. 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. Louis G. Schott, Interim CEO of Camber, stated: Camber is extremely excited about the planned Merger. 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. Camber Energy has steered the Company to a strategic path leveraging on its expanding technical and operational dewatering expertise. 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. Asian paint share price target, brijesh-patel can be a 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. Aside from its deal with Viking, Camber has pursued other M&A in recent months. Additionally, the Company and NFP jointly terminated their venture. (Source: Shutterstock). CEI holds interests in active oil & gas properties in the onshore Gulf Coast region. Here are the highlights: Viking shareholders are on board with the merger. 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. The company's primary value drivers are its reserves which must be developed to unlock their full potential. Current Assets were$9.21million, as compared to $7.84 million in Q-1 2019. Through its majority-owned subsidiary, Viking Energy Group, Inc., Camber owns interests in oil and natural gas assets in the Gulf Coast and Mid-Continent regions. It has been more than three weeks since the NYSE American Exchange sent Camber Energy (NYSEAMERICAN: CEI) a letter saying that it wasnt compliant with the energy WebCamber Energy, Inc. is an independent oil and natural gas company. Camber Energy Takes A Giant Step Forward To Becoming A Much Larger Company By Finalizing Acquisition Of Viking Energy ($CEI) Published: April 27, 2023 at 5:42 a.m. With the stock perking up, we expect the $1 price to be exceeded as momentum players pile into Camber Energy. , 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. Furthermore, the company's net loss amounted to $13.24 million. WebHOUSTON, TX / ACCESSWIRE / May 24, 2021 / Camber Energy, Inc. (NYSE American:CEI) ("Camber" or the "Company"), an independent oil and gas company, 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. The prediction says for February 2019. appeared first on StockNews.com. Although this acquisition could strengthen CEI's platform and position it for further expansion across North America, it could also increase its expenses in the near term. 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. 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. Camber Energy Your info is never shared. All rights reserved. Camber Energy plummets 63% after short-seller report takes the CEI stock future price, -89.8046%. Approximately 97% of the Central Oklahoma acreage is held by production (HBP). For more information, please visit the company's website at www.camber.energy. 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). Leaders are starting to outline when they will show results. 0.138 USD . 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. Camber Energy Discloses Receipt of Notice From NYSE The companies did not provide an estimated closing date. 2023-04-30 - A bevy of projects in the Middle East promises a boom in future revenues for SLB, Baker Hughes and Halliburton. 1.350 Check-in with Cambers President & CEO, James Doris, as he provides insight into the companys operations, structure and growth strategy. By John Downey. Is CEI stock price going to drop? However, the collapse in energy prices and the COVID-19 pandemic have wreaked havoc on its business plans, including the planned merger with Viking. 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. CEI's trailing-12-month revenue came in at $264,160 . If you have an interest in the lucrative microcap sector, sign up to Insider Financial today! 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. How Does Camber Energy (CEI) Stack Up Against its Peers? Of the 92 stocks in the C-rated Energy Oil & Gas industry, CEI is ranked last. With 5% of the float short, we also expect a nice short squeeze to help make $1 and above an easy target. The company's third initiative for growth is the acquisition of production and acreage near its existing operations. Camber Energy Inc Forecast, wonder full post. This article is meant for informational and educational purposes only and does not provide investment advice. 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. 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. 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. CEI NOTICE: Camber Energy, Inc. Investors with - Business Wire We wrote this article ourselves and it expresses our own opinions. 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. Joel Holland, CEO of Harvest Hosts, grew the company's membership from 6,000 to more than 250,000 since 2018. CEI forecast tomorrow, Such forward-looking statements are based on current expectations, involve known and unknown risks, a reliance on third parties for information, transactions that may be cancelled, and other factors that may cause our actual results, performance or achievements, or developments in our industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Below you will find the stock price predictions for 2023, 2024. This article is meant for informational and educational purposes only and does not provide investment advice. wrote this article ourselves and it expresses our own opinions. The POWR Ratings are calculated by considering 118 different factors, with each factor weighted to an optimal degree. Remote Work Skeptics Are Forgetting Their Most Valuable Asset: Their Customers. Additional details regarding the Year End Transactions were included in Camber's and Viking's Current Reports on Form 8-K filed with the Securities and Exchange Commission ("SEC") on January 13, 2021, and are available under "investors" - "SEC filings" at www.camber.energy and www.vikingenergygroup.com. CEI has an F grade for Quality. Camber Energy to Acquire Private Companies Oil Wells for $69 Million. However, its trailing-12-month gross loss stood at $19,000, while its operating loss came in at $4.2 million. 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. We intend that all forward-looking statements be subject to the safe-harbor provisions. Energy Going 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. 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. Oil prices collapsed and lockdowns drove the US economy to halt. What Happened In Camber Energy Stock (CEI)? Yes. Camber Energy 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. Always do your own research and make your own investment decisions. index on US Stock Market : At Walletinvestor.com we predict future values with technical analysis for wide Following several years of negotiations, Camber Energy and its majority-owned subsidiary Viking Energy Group amended an agreement to merge. Income from operations was $1.00 million as compared to $2.31 million in Q-2, 2019. 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, Bidens energy secretary makes 'important admission' over US 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. A new report by the World Economic Forum found that nearly 2% of current roles could disappear by 2027. Revisiting Camber Energy (CEI): The Situation Still Looks Bad