HENDERSON, NV / ACCESSWIRE / March 22, 2019 / Worldwide oil demand has been steadily climbing for years and it recently topped 100 million barrels per day (BPD) for the first time in history, according to data from the International Energy Agency (IEA). That should continue with the IEA expecting oil demand to march higher for at least the next five years. That's good news for oil producers, which can continue expanding their output so that the industry can keep up with demand growth.
The IEA recently released its latest five-year oil market outlook. One of the key takeaways of that report was that oil demand growth should continue rising. Global consumption has been growing at a brisk pace in recent years, having increased by 1.3 million BPD last year to an average of 99.2 million BPD. Meanwhile, the IEA sees oil demand growth accelerating this year by 1.4 million BPD, pushing the daily average to 100.6 million BPD.
With that in mind, we're highlighting a few energy stocks that will benefit. One that just made some big news which you should start researching is Camber Energy (CEI). The company has been trading near 52-week lows. However, this company deserves due diligence. The company turned a nearly $30 million shareholders' deficit into $2.3 million of positive shareholders' equity, increasing liquidity and extinguishing debt. Another catalyst that could bring investors to the table is the company announcing the execution of a non-binding Letter of Intent in connection with the company's planned acquisition of a midstream pipeline integrity services, specialty construction and field services company in an all-stock transaction.
According to CEI's Interim CEO, "If completed, this transaction will enable the company to leverage its available cash reserves and build shareholder value through a change in business focus to pipeline service and construction."
Camber Energy, Inc. (CEI) (Market Cap: $5.555M; Share Price: $0.4404) has worked very hard recently to improve their standing with the NYSE American and spent a lot of 2018 cleaning up the company 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. 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.
Magellan Midstream Partners, L.P. (MMP) (Market Cap: $14.179B; Share Price: $62.08) owns the longest refined petroleum products pipeline system in the country with access to nearly 50% of the nation's refining capacity and can store more than 100 million barrels of petroleum products such as gasoline, diesel fuel and crude oil. It recently presented at the Raymond James Annual Institutional Investor Conference in Orlando, FL as well as held investor meetings at Barclays Midstream Corporate Access Day on Wed., March 6 and the Barclays Investment Grade Energy & Pipeline Corporate Day on Thurs., March 7, both in NYC.
Enbridge Inc. (ENB) (Market Cap: $74.412B; Share Price: $36.78) announced that it recently received the permitting timeline for its agencies' remaining environmental permits for the Line 3 Replacement Project from the State of Minnesota. The permitting timeline indicates that the certifications on all remaining State permits required for the construction of Line 3 will be provided by this November. Enbridge anticipates that the remaining Federal permits will be finalized approximately 30 to 60 days thereafter.
Cenovus Energy Inc. (CVE) (Market Cap: $11.283B; Share Price: $9.19) announced it would cut its capital spending for 2019 by 4 % amid a broader turnaround plan, but raised its oil sands production forecast. The company said it plans to invest between C$1.2 billion ($901.1 million) and C$1.4 billion in 2019 with the majority of the budget going to its Foster Creek and Christina Lake oil sands operations.
Ensco plc. (ESV) (Market Cap: $1.932B; Share Price: $4.42) reported adjusted fourth-quarter 2018 loss of 39 cents a share. Total revenues amounted to $399 million, down from $454.2 million in the year-ago quarter. The company's results were impacted by lower utilization for the floater fleet, decreasing realized day rates and higher depreciation costs. These factors were partially offset by the addition of four rigs to the active fleet. It is worth keeping in mind, too, that this is the last quarterly report before Ensco merges with Rowan Companies (RDC), a move that will certainly improve Rowan's fleet and forward cash generation prospects, but will also likely lead to more asset write-downs as the Rowan drilling rigs cannibalize the Ensco ones.
Priyanka Goel, CFA
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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