HENDERSON, NV / ACCESSWIRE / March 15, 2019 / Mark another positive week for Oil & Gas stocks. West Texas Intermediate (WTI) crude futures edged up 0.5% to close at $56.07 per barrel while natural gas prices rose 0.2% to $2.865 per million Btu (MMBtu).
The U.S. crude benchmark received support from the sharp drop in product inventories (gasoline and distillate) on higher demand. Oil was also pushed up by the so-called OPEC+ deal that is cutting production by around 1.2 million barrels per day until the end of June. U.S. sanctions against Venezuela and Iran continue to tighten the oil further, but these positives were partially offset by the massive weekly build in crude stockpiles on surging domestic oil production.
Looking at investment opportunities in the sector, Camber Energy (CEI) deserves due diligence. The company has had a successful year so far. The company also 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. (CEI), Whiting Petroleum Corporation (WLL), Halcon Resources Corporation (HK), Noble Corporation plc (NE), and Jagged Peak Energy, Inc. (JAG).
Camber Energy, Inc. (CEI) (Market Cap: $4.838M; Share Price: $0.3836) has worked very hard recently to improve their standing with the NYSE American and spent a lot of 2018 cleaning up the company. Their hard work is starting to receive recognition as CEI recently 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.
Whiting Petroleum Corporation (WLL) (Market Cap: $2.300B; Share Price: $25.21) will replace Ingevity in the S&P SmallCap 600 effective prior to the open of trading on Monday, March 18. WLL is an independent oil and gas company that develops, produces, acquires and explores for crude oil, natural gas and natural gas liquids.
Halcon Resources Corporation (HK) (Market Cap: $208.870M; Share Price: $1.30) reported fourth-quarter net income of $146.7 million after reporting a loss in the same period a year earlier. The Houston-based company said it had profit of 93 cents per share. Losses adjusted for non-recurring gains were 9 cents per share for the quarter. The independent energy company posted revenue of $60.3 million in the period, falling short of Street forecasts. For the year, the company reported profit of $46 million, or 29 cents per share.
Noble Corporation plc (NE) (Market Cap: $721.242M; Share Price: $2.90) reported on February 20, 2019, a net quarterly loss of $33.1 million or a loss of $0.36 per share (adjusted for one-time gains and costs) for the quarter ended December 31, 2018. The company posted revenues of $309.89 million for the quarter ended December 2018. For the year, the company reported that its loss widened to $885.1 million, or $3.59 per share. Revenue was reported as $1.08 billion.
Jagged Peak Energy, Inc. (JAG) (Market Cap: $2.169B; Share Price: $10.17) reported that production volumes for the fourth quarter of 2018 grew 6% sequentially from the third quarter and averaged 38.4 MBoe per day (29.1 MBbls/d oil). Full-year 2018 production averaged 34.2 MBoe per day, a 102% increase from 2017. Year-end 2018 proved reserves increased by 44% to 118.9 MMBoe (60% proved developed), representing reserve replacement of 393%.
Signed by -
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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