U.S. Markets close in 3 hrs 32 mins

Oil & Gas Exploration Stocks on the Rise

HENDERSON, NV / ACCESSWIRE / March 26, 2019 / Oil & Gas stocks are seeing investor interest rise over the past few months. Below are several that are leading the space. One that just released news is Camber Energy (CEI). It just announced the execution of a non-binding Letter of Intent in connection with a proposed acquisition by the company of a midstream pipeline integrity services, specialty construction and field services company in an all-stock transaction. The company also turned a nearly $30 million shareholders' deficit into $7.6 million of positive shareholders' equity, increasing liquidity, extinguishing debt and fast tracking the company for regaining NYSE American compliance.

Today we are highlighting: Camber Energy, Inc. (CEI), Diamond Offshore Drilling (DO), Cenovus Energy, Inc. (CVE), Transocean Ltd. (RIG), and Antero Resources Corporation (AR).

Camber Energy, Inc. (CEI) (Market Cap: $5.168M; Share Price: $0.4097) 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.

________

Diamond Offshore Drilling (DO) (Market Cap: $1.416B; Share Price: $10.30), a leader in offshore drilling and contract drilling services that solves complex deep-water challenges globally, said it's nearly doubling rental rates for deep-water drill ships as oil explorers return to sea. The increase involves long-term rig leases beginning in 2020 and beyond, Chief Executive Officer Marc Edwards said on Wednesday in an interview on Bloomberg TV. The proliferation of onshore shale drilling in the past decade shattered the deep-water drilling industry and prompted some rig operators to scrap vessels that cost hundreds of millions to build.

________

Cenovus Energy Inc. (CVE) (Market Cap: $10.461B; Share Price: $8.52) 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. It is also maintaining capital discipline and had reduced significant amount of debt in 2018 from its capital structure.

________

Transocean Ltd. (RIG) (Market Cap: $5.389B; Share Price: $8.83) announced that Petrobras had signed contracts for the Ocean Rig Corcovado and Ocean Rig Mykonos, two rigs acquired in its purchase of Ocean RIG in December, with a 629-day contract and 550-day contract, respectively.

________

Antero Resources Corporation (AR) (Market Cap: $2.59B; Share Price: $8.39) also released its Q4 numbers recently and faired a touch better than RIG. AR's output topped the 3 billion cubic feet equivalent per day (Bcfe/d) mark for the quarter, which was a record for the company. Overall, production surged 18% sequentially and 37% year over year. The company produced an average of 162,077 barrels per day for the quarter, which was up 51% compared with the prior-year period. For the full year 2018, net daily gas equivalent production averaged 2,709 MMcfe/d (28% liquids), a 20% increase over the prior year.

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. 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.

Contact Information:

Company Name: ACR Communication LLC.

Contact Person: Media Manager

Email: info@microcapspeculators.com

Phone: 1-702-720-6310

Country: United States

SOURCE: ACR Communication LLC.



View source version on accesswire.com:
https://www.accesswire.com/540135/Oil-Gas-Exploration-Stocks-on-the-Rise