Climate Forces Oil Cos to Improve
Efficiency
May 3, 2019 -- InvestorsHub NewsWire -- Microcap Speculators --
Oil has climbed more than 40% this year, underpinned mainly by
production cuts from the OPEC-led group of exporters, and drop in
supply from Venezuela and Iran. The so-called OPEC+ deal (an
alliance of OPEC, Russia and other non-member countries) is
withholding output by around 1.2 million barrels per day until the
end of June. U.S. sanctions against Venezuela and Iran also
continue to tighten the commodity’s fundamentals.
Meanwhile, natural gas prices rebounded slightly from their
three-year lows despite a government report showing
higher-than-expected increase in supplies. The gain could be
attributed to weather-associated tailwinds that might lead to
robust heating demand. While the fundamentals of natural gas
consumption continue to be favorable, record high production in the
United States and expectations for explosive growth through 2020
means that supply will keep pace with demand.
One oil & gas exploration deal that has done a great job
improving its efficiency over the past 12 months and is set to
complete a major deal is Camber Energy (AMEX:
CEI). CEI has worked very hard recently to
improve their standing with the NYSE American, and spent a lot of
2018 cleaning up its balance sheet and improving its
efficiency. Their hard work is starting to receive
recognition as CEI received a letter from the NYSE American about
regaining several of their continued listing standards.
WHY NOW? The company is set to close on an acquisition
within the next couple weeks. It has already received
preliminary non-binding approval from the staff of the NYSE
American of the planned terms of its contemplated acquisition of
Lineal Star Holdings www.LinealStar.com in an all-stock
transaction. Lineal's primary operating subsidiary has been
in the pipeline integrity, construction and services industry for
64 years. It has Master Service Agreements in Pennsylvania, Ohio
and West Virginia, with planned growth in Texas, the Gulf South and
the Mid-Continent. Today, it announced that it has entered
into a revised letter of intent with Lineal Star Holdings.
Today we’re highlighting: Camber Energy, Inc. (AMEX:
CEI), Obsidian Energy Ltd. (OBE), Diamond Offshore Drilling,
Inc. (NYSE:
DO), BP Prudhoe Bay Royalty Trust (NYSE:
BPT), and Pacific Ethanol, Inc. (NASDAQ:
PEIX).
Camber Energy, Inc. (AMEX:
CEI) (Market Cap:
$6.23M;
Share Price: $0.3117)
turned a nearly $30 million shareholder deficit into $2.3 million
of positive shareholders’ equity, increasing liquidity,
extinguishing debt and fast tracking the company for regaining NYSE
American compliance. Investors are starting to show support
to management’s progress and as more investors learn the story, the
trend could continue. Oil & Gas investors seeking
competent fiscal management and efficient operations should
research CEI.
_________
Obsidian Energy Ltd. (OBE) (Market
Cap:
$141.265M;
Share Price
$0.2800) announced an
operational update on its Cardium drilling program on April
16. “We are examining every facet of the business to ensure
we are always making improvements, including a continual review of
our capital allocation, cost structure, and portfolio composition."
commented Michael Faust, Interim President and CEO.
Obsidian Energy Ltd. explores for, develops, and produces oil
and natural gas in western Canada. It holds interests in the
Alberta Viking, Cardium, Deep Basin, and Peace River areas. The
company was formerly known as Penn West Petroleum Ltd. and changed
its name to Obsidian Energy Ltd. in June 2017. Obsidian
Energy Ltd. was founded in 1979 and is headquartered in Calgary,
Canada.
________
Diamond Offshore Drilling, Inc. (NYSE:
DO) (Market Cap:
$1.239B;
Share Price:
$9.00) recently reported
results for the first quarter of 2019. “We had a solid start to the
year with fleet-wide operational efficiency of 97% and zero
recordable incidents for the first quarter," said Marc Edwards,
President and Chief Executive Officer. As of April 1, 2019, the
company's total contracted backlog was $1.8 billion, which excludes
over $450 million of backlog secured in April 2019 associated with
the Ocean BlackRhino, Ocean BlackHawk and Ocean GreatWhite
contracts discussed above and a $135 million margin commitment from
one of the Company's customers.
Diamond Offshore Drilling, Inc. provides contract drilling
services to the energy industry worldwide. The company
operates a fleet of 17 offshore drilling rigs, including 4 drill
ships and 13 semisubmersible rigs. It serves independent oil
and gas companies, and government-owned oil companies. The
company was founded in 1953 and is headquartered in Houston, Texas.
Diamond Offshore Drilling, Inc. operates as a subsidiary of Loews
Corporation.
________
BP Prudhoe Bay Royalty Trust (NYSE:
BPT) (Market Cap: $409.81M; Share Price:
$19.15) announced in April the dividend information
for the First Quarter of 2019 as follows:
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Ex-Dividend Date:
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April 15, 2019
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Record Date:
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April 16, 2019
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Payable Date:
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April 22, 2019
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Dividend Rate:
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$0.3449262 per Unit*
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*Actual average daily production for the quarter was 77,371
BBLS.
Any questions, please feel free to contact The Bank of New York
Mellon Trust Company, N.A. at 713-483-6020.
BP Prudhoe Bay Royalty Trust operates as a grantor trust in the
United States. The company holds overriding royalty interest
comprising a non-operational interest in minerals in the Prudhoe
Bay oil field located on the North Slope of Alaska. The
Prudhoe Bay field extends approximately 12 miles by 27 miles and
contains approximately 150,000 gross productive acres.
________
Pacific Ethanol, Inc. (NASDAQ:
PEIX) (Market Cap: $50.847M; Share Price:
$1.04) announced in March that Pacific Ethanol Pekin,
LLC and Kinergy Marketing LLC, each a direct or indirect
wholly-owned subsidiary of Pacific Ethanol, Inc., entered into
amendments to their credit agreements and related agreements with
their respective lenders which returns Pekin to full compliance
with its credit facility and provides additional liquidity under
the Kinergy credit agreement to help facilitate the company’s
strategic initiatives.
Pacific Ethanol, Inc. produces and markets low-carbon renewable
fuels and alcohol products in the United States. The company
operates in two segments, Production and Marketing. It
produces and markets ethanol and co-products, such as wet and dry
distillers’ grains, wet and dry corn gluten feed, condensed
distillers soluble, corn gluten meal, corn germ, corn oil,
distillers- yeast, and CO2, as well as markets ethanol produced by
third parties.
________
Signed by
Priyanka Goel, CFA
Legal Disclaimer:
This article was written by Regal Consulting, LLC (“Regal
Consulting”). Regal Consulting has agreed to a six-month term
consulting agreement with CEI dated 11/15/18. The agreement
calls for $28,000 in cash, and 200,000 restricted 144 shares of CEI
per month. Regal Consulting and CEI have agreed to
amend the current agreement and extend it until October 2019, the
amendment calls for $50,000 in cash, and 50,000 restricted 144
shares of CEI. All payments were made directly by Camber
Energy, Inc. to Regal Consulting, LLC. to provide investor
relations services, of which this article is a part of. Regal
Consulting also paid one thousand dollars cash to
microcapspeculators.com to distribute this article. Regal
Consulting may have a position in the securities mentioned in this
article at the time of publication, and may increase or decrease
its position without notice. This article is based on public
information and the opinions of Regal Consulting. CEI was
given an opportunity to edit this article. This article
contains forward-looking statements that are subject to certain
risks and uncertainties that could cause actual results to differ
materially from any results predicted herein. Regal
Consulting is not registered with any financial or securities
regulatory authority, and does not provide or claim to provide
investment advice.
http://www.regalconsultingllc.com/full
legal disclaimer/
Full Legal Disclaimer Click Here.
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SOURCE: Microcap Speculators
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