January Was a Record-Breaking Month for Oil Industry
March 01 2019 - 10:00AM
InvestorsHub NewsWire
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.
_______
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.
_______
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.
_______
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.
_______
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.
http://www.regalconsultingllc.com/full
legal disclaimer/
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