This site is funded and maintained by Fintel.io. Includes modified extension pages (usually configuration pages). 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 The two companies had previously drafted a merger agreement dated Aug. 31, 2020. 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. What Happened In Camber Energy Stock (CEI)? Below you will find the stock price predictions for 2023, 2024. Revisiting Camber Energy (CEI): The Situation Still Looks Bad The goal is to re-meet the initial listing standards of the NYSE American. Reproduction in whole or in part, in any form or medium without express written permission is prohibited. Is Camber Energy Inc price going up? If you have an interest in the lucrative microcap sector, sign up to Insider Financial today! On March 20, Camber announced it had addressed legacy accounting issues that allowed the company to resume negotiations on the merger. The Camber Energy stock price may drop from When will CEI price fall? 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. CEI stock future price, Furthermore, the company's net loss amounted to $13.24 million. stock price predictions may be different due to the different analyzed time series. Camber Energy, Inc. (Camber) is a growth-oriented, diversified energy company. After working to consummate a deal for several years, Camber Energy and Viking Energy Group have finally reached a new agreement to fully combine. Also refer for more: Coal India share price target. CEI stock price predictions 2023, The POWR Ratings are calculated by considering 118 different factors, with each factor weighted to an optimal degree. Copyright 2023 Entrepreneur Media, Inc. All rights reserved. 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 prediction says for February 2019. 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. Camber and Viking reached another merger agreement in February 2021. Disclosure: We have no position in NYSEMKT:CEI, OTCMKTS:VKIN, or any of the securities mentioned. Any statements that are not historical facts contained in this press release are "forward-looking statements", which statements may be identified by words such as "expects," "plans," "projects," "will," "may," "anticipates," "believes," "should," "intends," "estimates," and other words of similar meaning. 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. CEI's trailing-12-month revenue came in at $264,160 . 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 $18.9 million worth of common stock of Viking. Pursuant to the Release, the Company completed a transaction in which CATI provided Rogers, pursuant to an Assignment of Overriding Royalty Interest (the Royalty Assignment), with an overriding royalty (equal to 0.01 of 8/8ths of all oil and gas) on CATIs remaining leasehold and Rogers released CATI from all remaining indebtedness owed. change will be Check-in with Cambers President & CEO, James Doris, as he provides insight into the companys operations, structure and growth strategy. In Central Oklahoma the Company had 13,567 / 55,247 (net / gross) acres, most of which was acquired pursuant to the Acquisition (defined under Liquidity and Going Concern Consideration). We are leveraging our expertise and relationships to build a diversified organization with profitable business segments to increase stakeholder value. Following several years of negotiations, Camber Energy and its majority-owned subsidiary Viking Energy Group amended an agreement to merge. index on US Stock Market : At Walletinvestor.com we predict future values with technical analysis for wide For over five years, we have provided a free service to a countless number of traders featuring only the best in the microcap arena. Your adding value on me and also support me to wrote more post on my blog. This acreage, part of the Companys Jackrabbit acreage, targeted the San Andres formation in the Permian Basin. The company was formerly known as Lucas Energy. WalletInvestor.com. HOUSTON, TX / ACCESSWIRE / January 14, 2021 / Camber Energy, Inc. (NYSE American:CEI) (" Camber " or the " Company ") is pleased to announce the Camber Energy Takes A Giant Step Forward To Becoming A Much Larger Company By Finalizing Acquisition Of Viking Energy ($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. Camber Energy Probability Of Bankruptcy - (NYSE MKT:CEI) Independent oil and natural gas company Camber Energy, Inc. (. All rights reserved. Camber Energy closes deal taking stake in Viking Energy Viking targets undervalued assets with realistic appreciation potential. Camber Energy Inc Forecast, wonder full post. Camber believes that it has certain advantages in initiating a development program in the San Andres. Read fore more: Google price forecast/ Predication, brijesh-patel Our aim is to acquire a majority interest in assets or entities with current revenue streams and realistic upside potential. The Company maintains a 90% ownership position in the remaining 1,100 acres in the area. 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. CEI holds interests in active oil & gas properties in the onshore Gulf Coast region. We are pleased to have the unanimous support from the members of the board of directors of each company to take these next steps, and believe combining Camber's national stock exchange platform with Viking's diversified portfolio of innovative technologies and other important energy-related initiatives will be a significant benefit to all stakeholders and allow the organization to more efficiently execute its growth strategy, Doris said at the time. 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 POWR Ratings are calculated by considering 118 different factors, with each factor weighted to an optimal degree. Prices for top E&P stocks and commodities. Also, its 4.94 trailing-12-month Price/Book multiple compares with the 1.48 industry average. Camber Energy and Viking agreed to merge on February 3rd and then the COVID-19 pandemic swept across the nation. Camber Energy Inc market prognosis, The company's primary value drivers are its reserves which must be developed to unlock their full potential. The net proceeds from the sale to the Company totaled $25,914. Camber Energy Takes A Giant Step Forward To For more information, please visit the company's website at www.camber.energy. 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. Your adding value on me and also support me to wrote more post on my blog. Your info is never shared. Oil prices collapsed and lockdowns drove the US economy to halt. 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. According to our analysis, this can happen. Senior Staff Writer, Charlotte Business Journal. 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. 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 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. 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. Camber Energy has steered the Company to a strategic path leveraging on its expanding technical and operational dewatering expertise. The Camber Energy stock price is 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. Database of selected U.S. and international exploration wells. 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. Prior to the default, CATI had not recorded interest due on the note based on its earlier agreements. 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. A new report by the World Economic Forum found that nearly 2% of current roles could disappear by 2027. Camber Energy Of the company's floating shares,14.3% have been sold short. CEI stock price prediction, About - Camber Energy Multiple local clean energy companies have landed rounds of $500 million or more recently. CEI has an overall F rating, which translates to a Strong Sell in our. Camber Energy, Inc., (CEI) a Nevada corporation, is an independent oil and natural gas company based in San Antonio, Texas. 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. Contact InformationInvestors and Media:Tel. Remember, this was a stock that was trading over $8 at this time last year. Camber Energy, Inc. is an independent oil and natural gas company. Leaders are starting to outline when they will show results. 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. The company's growth plan includes the development and enhancement of existing production, in addition to the drilling of new wells on its acreage. Once online, the project will have an estimated capacity of around 43 million gallons of renewable diesel annually. Camber Energy Short-term and long-term CEI (Camber Energy Inc) Register Now and start editing! Camber Energy, Inc. (Camber) is a growth-oriented, diversified energy company. 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. 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. If you follow a company closely and would like to share your knowledge, we would love your contributions. wrote this article ourselves and it expresses our own opinions. 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. 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. Term Box: The company owns oil and gas leases in Texas, Louisiana, Mississippi and Kansas. In the past decade, Texas renewable energy and storage capacity surged by about 44,000 megawatts, according to the states grid operator. Also, its trailing-12-month. 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. 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 This article is not a solicitation or recommendation to buy, sell, or hold securities. 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. WebBased in Houston, Texas, Camber Energy (NYSE American:CEI) is a growth-oriented energy company. Energy news, analysis, interviews, and exclusive coverage you need to keep your industry edge. This justifies the stock's relatively high 1.29 beta. Furthermore, the company's poor cash balance and negative profit margin are not in sync with its stock's current valuation. Camber Energy Is Going Nowhere Fast | Markets Insider How will Camber Energy Inc stock price increase? 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. With 5% of the float short, we also expect a nice short squeeze to help make $1 and above an easy target. 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. 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. Camber Energy, Viking Reach New Agreement to Merge 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 effective date of the Release was December 15, 2017. 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. CEI NOTICE: Camber Energy, Inc. Investors with - Business Wire How Does Camber Energy (CEI) Stack Up Against its Peers? I can't understand about google price goes 000. This is a great start to 2021.". wonder full post. Approximately 97% of the Central Oklahoma acreage is held by production (HBP). Imon is an investment analyst and journalist with an enthusiasm for financial research and writing. 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 forecast tomorrow, Always do your own research and make your own investment decisions. WebFind real-time CEI - Camber Energy Inc stock quotes, company profile, news and forecasts from CNN Business. Moreover, extinguishing the $18.9 million of debt improves the equity position of both companies. Aside from its deal with Viking, Camber has pursued other M&A in recent months. The Camber Energy Flirts With NYSE American Delisting CEI has an overall F rating, which translates to a Strong Sell in our POWR Ratings system. Approximately 72% of Boe was proved producing. These properties include interests in four different fields, of which one is operated by Camber and the other three are non-operated. Instead, what leaders need to focus on is how hybrid work arrangements will serve customer needs. energy The assets are expected to generate $55 million in annual gross revenue, the company said. Rextag database of energy infrastructure assets. Camber will remain the sole publicly traded company following the combination, according to the agreement between the two Houston-based firms. 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. CEI holds interests in active oil & gas properties in the onshore Gulf Coast region. While CEI has been taking steps to complete the accounting to file the Form 10-K, if it fails to cure the filing delinquency within the given cure period, NYSE could suspend and delist it. Once that happens, shareholders can vote and the merger will be completed. Insider Financial focuses solely on short-term high probability trade opportunities. Camber Energy Inc analyst report, In terms of Value grade, the company has an F, which is reflective of its premium valuation. 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. Vantage was granted a second lien on the Jackrabbit property in connection with the financing. Get our PREMIUM Forecast Now, from ONLY $7.49! 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). 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. Not within a year. I always refer your site before writing. Will Camber Energy Inc stock price fall? 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. By comparison, fossil We should be hearing from the SEC any day now that the Form S-4 cleared. Ricky_Stock_Bobby 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. 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. Your blog is to good for my knowledge. It also includes material acquisitions of leasehold or production in new areas. 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, 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 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. First up, heres a little background info for those not familiar with the stock. 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. Information on assets, buyers and sellers, deal values, and more. Before the run-up in oil prices Viking was a classic dead Historical A searchable database of oil and gas debt and equity offerings. 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. The pages created by the user or by XWiki extensions on behalf of the user. 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. 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. - Try Now Risk-Free - Money-back guarantee! Through its majority-owned subsidiary, Viking Energy Group, Inc. (Viking), or $3.2 million). ), 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. CEI has an F grade for Quality. Learn about theses six powerful time management strategies you can implement in a hybrid or remote workplace. No Spam. Joel Holland, CEO of Harvest Hosts, grew the company's membership from 6,000 to more than 250,000 since 2018. Multiple local clean energy companies have landed rounds of $500 million or more recently. 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. Camber Energy Enerjex will receive a fee of $150,000 per month for services rendered, plus any pre-approved out of pocket travel expenses. 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). We wrote this article ourselves and it expresses our own opinions. The Mid-Continent assets produce from a liquids-rich, gas reservoir known as the Hunton formation. As a simplified explanation, dewatering occurs in formations with high water saturations, greater than 50%. However, its trailing-12-month gross loss stood at $19,000, while its operating loss came in at $4.2 million. 1.350 As of the end of 2022, Camber owned approximately 60.9% of Vikings outstanding common shares, according to regulatory filings. In this article, we take a look at Camber Energy and the risk/reward opportunity. Furthermore, the company's net loss amounted to $13.24 million. The companies did not provide an estimated closing date. In West Texas, the Company had 209 /2,253 (net / gross) acres. By John Downey. Camber Energy Inc projections, In January, Camber agreed to acquire a 100% interest in companies developing a renewable diesel processing plant. 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. Energy Going 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. And CEI's 26.65x trailing-12-month Price/Sales is 1,770% higher than the 1.43x industry average. Continued improvement in these rates should result in increased revenue and cash flow. Camber Energy, Inc. Extinguishes $18.9M of Total Debt - Yahoo Is CEI stock price going to drop? At December 31, 2017, Cambers total estimated proved producing reserves were 5.98 million barrels of oil equivalent of which 3,383,500 barrels (Bbls) were crude oil and NGL (Bbls) reserves, and 15.6 billion cubic feet (Bcf) were natural gas reserves.
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