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 was formerly known as Lucas Energy. Short-term and long-term CEI (Camber Energy Inc) For over five years, we have provided a free service to a countless number of traders featuring only the best in the microcap arena. 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. In the past decade, Texas renewable energy and storage capacity surged by about 44,000 megawatts, according to the states grid operator. Pursuant to the Release, the Company completed a transaction in which CATI provided Rogers, pursuant to an Assignment of Overriding Royalty Interest (the Royalty Assignment), with an overriding royalty (equal to 0.01 of 8/8ths of all oil and gas) on CATIs remaining leasehold and Rogers released CATI from all remaining indebtedness owed. How will Camber Energy Inc stock price increase? 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. Are You Too Trusting? 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. 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. 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. Will CEI price drop? 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. brijesh-patel appeared first on StockNews.com. At the moment, Camber Energy owns a 70% interest in the company and the latter was the buyer of that carbon-capture system license. 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. 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. With 5% of the float short, we also expect a nice short squeeze to help make $1 and above an easy target. Question Box: Approximately 97% of the barrel of oil equivalent (Boe) was proved producing. Will CEI price go up? 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. Is Camber Energy Inc price going up? In addition, CEI reported a $9.750 net interest loss. Many penny stock investors are asking whats the story withCamber Energyafter the stock jumped 53% on Tuesday. Following several years of negotiations, Camber Energy and its majority-owned subsidiary Viking Energy Group amended an agreement to merge. No Spam. 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. Get our PREMIUM Forecast Now, from ONLY $7.49! Always do your own research and make your own investment decisions. The company operate and invest in areas that are known to be productive, with a reasonably established production history, in order to decrease geological and exploratory risk. 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). Camber has plans to file a preliminary registration statement for the proposed deal with the U.S. Securities and Exchange Commission as the next step in the merger process. The POWR Ratings are calculated by considering 118 different factors, with each factor weighted to an optimal degree. A Psychologist Reveals 3 Signs You Should Walk Away From Someone Fast. It engages in the acquisition, development, and sale of crude oil and natural gas from various known Measures such as return on equity, liquidity and stock multiples have led it to conclude that the market, in general, views small-cap and mid-cap exploration and production companies as having greater potential than microcaps. Contact InformationInvestors and Media:Tel. Through its majority-owned subsidiary, Viking Energy Group, Inc. (Viking), or Currently trading at less than $1, shares of diversified energy and power solutions company Camber Energy have been rallying thanks to recent social m By Always do your own research and make your own investment decisions. 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. Independent oil and natural gas company Camber Energy, Inc. (CEI), which is headquartered in Houston, Tex., is focused on the acquisition, development, and sale CEI forecast tomorrow, 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. The companies did not provide an estimated closing date. After working to consummate a deal for several years, Camber Energy and Viking Energy Group have finally reached a new agreement to fully combine. 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. Leaders are starting to outline when they will show results. Our aim is to acquire a majority interest in assets or entities with current revenue streams and realistic upside potential. 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. Current Assets were$9.21million, as compared to $7.84 million in Q-1 2019. Aside from its deal with Viking, Camber has pursued other M&A in recent months. If the closing of the merger occurs (the Closing), the Viking equity holders prior to the merger will own approximately 80% of Cambers fully-diluted common stock immediately after the merger, and the Camber equity holders prior to the merger shall own approximately 20% of Cambers fully-diluted common stock immediately after the merger. 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. wonder full post. Imon is an investment analyst and journalist with an enthusiasm for financial research and writing. Camber believes that it has certain advantages in initiating a development program in the San Andres. 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. (META) Stock Forecast, Berkshire Hathaway Inc. - Class A (BRK.A) Stock Forecast, > Page 2: detailed data / stock price table <, Alphabet Inc Class A Stock Forecast, "GOOGL" Share Price Prediction Charts, Asian Paints Stock Forecast, "500820" Share Price Prediction Charts, Coal India Stock Forecast, "533278" Share Price Prediction Charts, Kotak Mahindra Bank Stock Forecast, "500247" Share Price Prediction Charts, Camber Energy Inc Stock Price Forecast for 2023, Camber Energy Inc Stock Price Forecast for 2024, Camber Energy Inc Stock Price Forecast for 2025, Camber Energy Inc Stock Price Forecast for 2026, Camber Energy Inc Stock Price Forecast for 2027, Camber Energy Inc Stock Price Forecast for 2028. Viking also holds an exclusive license in Canada to a patented carbon-capture system. We wrote this article ourselves and it expresses our own opinions. Camber Energy Inc stock forecast, Also refer for more: Coal India share price target. Based in Houston, Texas, Camber Energy (NYSE American: CEI) is a growth-oriented, independent oil and gas company engaged in the development of It engages in the acquisition, development, and sale of crude oil and natural gas from 2023 Hart Energy. Below you will find the stock price predictions for 2023, 2024. Multiple local clean energy companies have landed rounds of $500 million or more recently. 1.350 USD to 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. Database of selected U.S. and international exploration wells. 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. Energy news, analysis, interviews, and exclusive coverage you need to keep your industry edge. 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. 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. Multiple local clean energy companies have landed rounds of $500 million or more recently. 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. Vikings 2019 results, as well as its recent hedging activities, have already proved more favorable than expected. This site is funded and maintained by Fintel.io. change will be Should 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. CEI shares fell $0.83 (-100.00%) in premarket trading Tuesday. The company's primary value drivers are its reserves which must be developed to unlock their full potential. 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. According to our analysis, this can happen. 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 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. Sep 7, 2021, This story originally appeared on StockNews. 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. CEI stock future price, This acreage, part of the Companys Jackrabbit acreage, targeted the San Andres formation in the Permian Basin. CEI's trailing-12-month revenue came in at $264,160 . Will Camber Energy Inc stock price fall? Copyright 2023 Entrepreneur Media, Inc. All rights reserved. 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. 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. After all, Camber Energy operates in the geopolitically volatile oil and natural gas industry as a homegrown player. 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% 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. future. Instead, what leaders need to focus on is how hybrid work arrangements will serve customer needs. 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. Camber Energy to Acquire Private Companies Oil Wells for $69 Million. Information on assets, buyers and sellers, deal values, and more. 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). Prices for top E&P stocks and commodities. 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 $20,000 Per Month With. CEI stock price predictions 2023, The Company intends to enter into an agreement with a joint venture partner within the (AMI) with the plan to initiate a drilling program on this acreage, targeting the San Andres formation, during the first half of 2018, subject to the transaction closing by year end. Best Camber Energy Inc forecast, Also, it has an F grade for Stability. , 4 Penny Stocks on the Move: BRLL BRN CEI RLFTF, Camber Energy Inc (NYSEAMERICAN:CEI) Hoping For Better Days Ahead, PharmaCyte Biotech Climbing Back Up The Charts. USD today. The Camber Energy stock price is Note: Because of the historical price data of CEI (with very high volatility), the technical analysis and stock price prediction may be unrealistic! Here are the highlights: Viking shareholders are on board with the merger. Help us improve our free forecast service with share! A searchable database of oil and gas debt and equity offerings. Camber Energy Takes A Giant Step Forward To Becoming A Much Larger Company By Finalizing Acquisition Of Viking Energy ($CEI) Published: April 27, 2023 at 5:42 a.m. Camber 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. 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. -89.8046%. 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 have no business relationship with any company whose stock is mentioned in this article. Not within a year. In terms of Value grade, the company has an F, which is reflective of its premium valuation. The post Is Camber Energy a Buy Under $1? Constance Dierickx, Ph.D., says it's tempting to rely on others when you're under stress but it can be a big mistake. 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 larger companies tend to have access to more favorable debt financing, receive greater analyst coverage, trade with greater liquidity and consequently, often have higher share prices. 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 In West Texas, the Company had 209 /2,253 (net / gross) acres. The company owns oil and gas leases in Texas, Louisiana, Mississippi and Kansas. However, the collapse in energy prices and the COVID-19 pandemic have wreaked havoc on its business plans, including the planned merger with Viking. I always refer your site before writing. We are not receiving compensation for it. WebCamber Energy, Inc. is an independent oil and natural gas company. Camber Energy Inc finance tips, 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. 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. Many penny stock investors are asking whats the story withCamber Energyafter the stock jumped 53% on Tuesday. With the stock perking up, we expect the $1 price to be exceeded as momentum players pile into Camber Energy. 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. Imon Ghosh system. The two companies had previously drafted a merger agreement dated Aug. 31, 2020. WebCamber Energy, Inc. (Camber) is a growth-oriented, diversified energy company. On March 20, Camber announced it had addressed legacy accounting issues that allowed the company to resume negotiations on the merger. 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). to 1.350 USD at 2023-05-02, but your current investment may be devalued in the If you have an interest in the lucrative microcap sector, sign up to Insider Financial today! Is Your Leadership Style More Steve Jobs or Elon Musk? $3.2 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. * Our share forecasts and predictions are made by, Cryptocurrency News, Crypto, Stock, Forex Predictions, Forecasts & Charts This balanced approach can expedite growth while reducing dependence on any particular division. 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. A new report by the World Economic Forum found that nearly 2% of current roles could disappear by 2027. As a simplified explanation, dewatering occurs in formations with high water saturations, greater than 50%. Insider Financial is not an investment advisor and does not provide investment advice. can be a 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. Independent oil and natural gas company Camber Energy, Inc. (. 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"). The Camber Energy stock price may drop from Doris will serve as president and CEO of the combined company following the merger, per the new agreement. This article is meant for informational and educational purposes only and does not provide investment advice. Once online, the project will have an estimated capacity of around 43 million gallons of renewable diesel annually. Vantage was granted a second lien on the Jackrabbit property in connection with the financing. We'll be in your inbox every morning Monday-Saturday with all the days top business news, inspiring stories, best advice and exclusive reporting from Entrepreneur. The net proceeds from the sale to the Company totaled $25,914. Camber will remain the sole publicly traded company following the combination, according to the agreement between the two Houston-based firms. The POWR Ratings are calculated by considering 118 different factors, with each factor weighted to an optimal degree. 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. Register Now and start editing! 1.350 Remember, this was a stock that was trading over $8 at this time last year. Independent oil and natural gas company Camber Energy, Inc. (CEI), 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. When will CEI stock price go down? Term Box: The Mid-Continent assets produce from a liquids-rich, gas reservoir known as the Hunton formation. 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, These properties include interests in four different fields, of which one is operated by Camber and the other three are non-operated. The purchase price totaled CAD3.99 million (approx. Viking targets undervalued assets with realistic appreciation potential. In September 2017, Rogers foreclosed on the assets of CATI which secured the note. Check-in with Cambers President & CEO, James Doris, as he provides insight into the companys operations, structure and growth strategy. We are not receiving compensation for it. By comparison, fossil Leaders are starting to outline when they will show results. - Try Now Risk-Free - Money-back guarantee! Camber Energy Inc analyst report, For more information, please visit the company's website at www.camber.energy. In addition, the company will evaluate the property to determine whether it conforms to its experience and technical expertise. Historical 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. 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. 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. 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. 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. 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. came in at a negative $5.15 million, while its free cash flow stood at a negative $2.09 million. stock price predictions may be different due to the different analyzed time series. 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). Currently trading at less than $1, shares of diversified energy and power solutions company Camber Energy have been rallying thanks to recent social media chatter surrounding the stock. All rights reserved. She began her career at Kantar IMRB, a leading market research and consumer consulting organization. CEI holds interests in active oil & gas properties in the onshore Gulf Coast region. Read fore more: Google price forecast/ Predication, brijesh-patel 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. On September 10th, Viking posted strong Q2 results. 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. Camber purchased interests in oil and gas assets from private operators for $69 million late last year. How Does Camber Energy (CEI) Stack Up Against its Peers? WebHOUSTON, TX / ACCESSWIRE / May 24, 2021 / Camber Energy, Inc. (NYSE American:CEI) ("Camber" or the "Company"), an independent oil and gas company, Among the lessons below: the brilliance of a "treasure hunt merchandising philosophy.". Learn about theses six powerful time management strategies you can implement in a hybrid or remote workplace. Your adding value on me and also support me to wrote more post on my blog. Of the 92 stocks in the C-rated Energy Oil & Gas industry, CEI is ranked last.