January Was a Record-Breaking Month for Oil Industry

March 1, 2019 -- InvestorsHub NewsWire -- Microcap Speculators -- The US natural gas and oil industry broke several records in January, according to the latest Monthly Statistical Report from the American Petroleum Institute. US total petroleum demand, as measured by total domestic petroleum deliveries, was 20.7 million b/d in January, which was down 0.2% from December but up 1.1% compared with January 2018. This was the strongest petroleum demand for January since 2005. January’s gasoline demand of 8.9 million b/d was the strongest on record since 1945. Gasoline prices fell in January even as the crude oil price rose. These numbers are promising for oil & gas securities, here’s a few to research.

One company that has reported some exciting numbers themselves, Camber Energy (AMEX: CEI), turned a nearly 30 million shareholders’ deficit into $2.3 million of positive shareholders’ equity, increasing liquidity and extinguishing debt.

Today we are highlighting: Camber Energy, Inc. (AMEX: CEI), W&T Offshore, Inc. (NYSE: WTI), Seadrill Limited (SDRL), Patterson-UTI Energy, Inc. (NASDAQ: PTEN), and Concho Resources, Inc. (NYSE: CXO).

We mentioned above that Camber Energy, Inc. (AMEX: CEI) (Market Cap: $5.264M, Share Price: $0.4174) spent a lot of 2018 cleaning up the company and improving its efficiency. Along with extinguishing shareholder debt, the company completed a one-for-twenty-five reverse stock split, among several other steps which is why CEI recently received a letter from the NYSE American about regaining compliance with several of the NYSE American’s continued-listing standards.

Oil & Gas investors seeking competent fiscal management and efficient operations should research CEI.

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W&T Offshore, Inc. (NYSE: WTI) (Market Cap: $724.991M, Share Price: $5.21) reported adjusted fourth-quarter 2018 earnings (excluding onetime items) of 22 cents per share improving from 17 cents a year ago. Revenues increased to $143.4 million in the quarter from $129.1 million a year ago. Higher oil and natural gas price realizations primarily supported the strong fourth-quarter results.

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Seadrill Limited (SDRL) (Market Cap: $863M, Share Price: $8.63) ore earnings for the fourth quarter exceeded the company's own guidance, boosted by lower costs and one-off items, while the market outlook for drilling rigs was improving, the Oslo and New York-listed firm said on Tuesday. The company reported $73 million in quarterly adjusted EBITDA, more than double the $35 million forecast it made in November. However, adjusted EBITDA is expected to ease to around $60 million in the first quarter, the company added.

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Patterson-UTI Energy, Inc. (NASDAQ: PTEN) (Market Cap: $2.833B, Share Price: $13.26) recently reported fourth-quarter adjusted net loss per share of 4 cents. The better-than-expected results can be attributed to increase in day rates and rig margins, which in turn supported its contract drilling segment. The company’s performance also improved from the year-ago loss of 10 cents per share.
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Concho Resources, Inc. (NYSE: CXO) (Market Cap: $22.065B, Share Price: $110.00) filed its latest 10-K with SEC for the fiscal year ended on December 31, 2018. Concho Resources Inc is an oil and natural gas company. It is engaged in the acquisition, development, exploitation and exploration of producing oil and natural gas properties. It operates in the Delaware Basin.

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. 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.

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