CEI expected stock price. Energy news, analysis, interviews, and exclusive coverage you need to keep your industry edge. What Happened In Camber Energy Stock (CEI)? Approximately $6,102,679 of the reduction was achieved, through a series of separate transactions, via the conversion of all or a portion of amounts owing by the Company to certain stakeholders into common stock in the capital of Viking. At the moment, Camber Energy owns a 70% interest in the company and the latter was the buyer of that carbon-capture system license. On November 9, 2017, the Company (through its subsidiary, Camber Permian LLC) and NFP Energy LLC (NFP), its joint venture partner, sold oil and gas properties totaling approximately 2,452 acres in Gaines County, Texas, to Fortuna Resources Permian, LLC (Fortuna), for $1,000 per acre or an aggregate of $2,206,718 payable to the Company (with $245,213 payable to NFP), pursuant to the terms of a letter agreement (the Sale Agreement) and an Assignment, Bill of Sale and Conveyance to Fortuna, both dated November 9, 2017 and effective November 1, 2017. system. Moreover, extinguishing the $18.9 million of debt improves the equity position of both companies. In the past decade, Texas renewable energy and storage capacity surged by about 44,000 megawatts, according to the states grid operator. For more information, please visit the company's website at www.camber.energy. The company's growth plan includes the development and enhancement of existing production, in addition to the drilling of new wells on its acreage. Ricky_Stock_Bobby Camber Energy Inc market prognosis, Copyright 2023 Entrepreneur Media, Inc. All rights reserved. CEI NOTICE: Camber Energy, Inc. Investors with - Business Wire By comparison, fossil Camber Energy is engaged in the acquisition, development and sale of crude oil, natural gas and natural gas liquids from various known productive geological formations, including from the Hunton formation in Lincoln, Logan and Payne Counties, in central Oklahoma; the Cline shale and upper Wolfberry shale in Glasscock County, Texas; and recently in connection with its entry into the Horizontal San Andres play on the Central Basin Platform of the Permian Basin in West Texas announced on January 3, 2017. 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. 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. 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. Camber Energy Takes A Giant Step Forward To Also, its trailing-12-month. It also includes material acquisitions of leasehold or production in new areas. We should be hearing from the SEC any day now that the Form S-4 cleared. 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. Leaders are starting to outline when they will show results. Also, its 4.94 trailing-12-month Price/Book multiple compares with the 1.48 industry average. Note: Because of the historical price data of CEI (with very high volatility), the technical analysis and stock price prediction may be unrealistic! This balanced approach can expedite growth while reducing dependence on any particular division. Camber Energy, Inc. Extinguishes $18.9M of Total Debt - Yahoo In this article, we take a look at Camber Energy and the risk/reward opportunity. 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. Senior Staff Writer, Charlotte Business Journal. 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. 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. 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. 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. The POWR Ratings are calculated by considering 118 different factors, with each factor weighted to an optimal degree. By pursuing adjacent or nearby properties, the company plan to expand its acreage footprint and capitalize on cost efficiencies. 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. Information on assets, buyers and sellers, deal values, and more. Historical 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. 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. 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. For more information, please visit the company's website at www.camber.energy. to 1.350 USD at 2023-05-02, but your current investment may be devalued in the All rights reserved. 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. can be a Prior to the default, CATI had not recorded interest due on the note based on its earlier agreements. Is CEI stock price going to drop? 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. Income from operations was $1.00 million as compared to $2.31 million in Q-2, 2019. This article is meant for informational and educational purposes only and does not provide investment advice. Camber Energy Discloses Receipt of Notice From NYSE 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. 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).
Linda Henry Obituary Bishopville Sc, Articles I