U.S. crude oil prices sank 2.4 percent on Monday despite Russia agreeing to extend the current production cuts with its OPEC partners for longer than initially expected.
Although the expectation was 6 months, OPEC agreed to extend its current 1.2 million BPD production cuts for another nine months, bringing them back down to 2010-2014 production levels, to the end of March of 2020.
Although some companies are seeing steady declines, one company that experienced a 2.63 percent increase on Tuesday was Camber Energy, Inc. (CEI) (“Camber”).
Camber is engaged in the development of crude oil and natural gas in the panhandle region of Texas. Based in Houston, CEI’s management team is committed to building a platform for growth and the development of its proved oil reserves while continuing its focus on operating efficiencies and cost control.
Today we’re highlighting: Camber Energy, Inc. (NYSE American: CEI), Dominion Energy, Inc. (NYSE: D), Iberdrola S.A. OTCPINK: IBDRY), Idemitsu Kosan Co., Ltd. (OTCPINK: IDKOY), Surgutneftegas PJSC.(OTCPINK: SGTPY).
Camber Energy, Inc. (NYSE: CEI), (Market Cap: $3.146M; Share Price: $0.1574), Camber Energy is a growth-oriented,independent oil and gas company engaged in the development of crude oil, natural gas and natural gas liquids in the Texas Panhandle as well as other basins. On June 20, 2019 the company provided the final agreements related to its Preferred C Shareholder to the NYSE American in Connection with its planned acquisition of Lineal Star Holdings.
Dominion Energy, Inc. (NYSE: D), (Market Cap: $62.239B; Share Price: $77.57), Dominion Energy announced on July 1st, 2019 they are formally beginning construction on the Coastal Virginia Offshore Wind (CVOW) project, which will bring an important new source of renewable energy to Virginia customers. The company is breaking ground to install a half-mile conduit, which will hold the final stretch of cables connecting the turbines 27 miles off the coast of Virginia Beach to a company substation near Camp Pendleton.
Iberdrola S.A. (OTCPINK: IBDRY), (Market Cap: $59.156B; Share Price: $40.06), Iberdrola SA is working to build what it says will be Europe’s largest solar farm at a cost of 300 million euros ($337 million). The Spanish utility has started the process with the country’s Ecological Transition ministry to build a 590-megawatt farm in the Western region of Extremadura. Spain’s renewable energy market has been booming over the last couple years, through a combination of large auctions and a green-energy friendly Socialist government. The country is Europe’s hottest renewables market and is set to deliver 7 gigawatts of solar and wind this year.
Idemitsu Kosan Co., Ltd. (OTCPINK: IDKOY), (Market Cap: $217K; Share Price: $15.11), Idemitsu Kosan Co.,Ltd. manufactures and sells fuel oils and lubricant oils in Japan and internationally. It operates through Petroleum Products, Petrochemical Products, Resources, and Others segments. The company offers lubricants, including marine and maintenance oils, metal working and industrial oils, grease products, traction drive fluids, polyvinyl ethers, and polyalkylene glycol oils; and petrochemicals, such as basic and performance chemicals, and engineering plastics. It also investigates, explores, develops, and sells oil and gas, coal, uranium, and geothermal resources; and provides agricultural biotechnology products, as well as animal feeds. In addition, the company generates renewable energy from wind, solar, biofuels, and hydrogen; and produces and sells electronic materials consisting of OLED materials.
Surgutneftegas PJSC.(OTCPINK: SGTPY), (Market Cap: $24.436B; Share Price: $6.84), Surgutneftegaz OAO is engaged in exploration and extraction of hydrocarbons: search for, exploration and exploitation of oil and gas fields; production and marketing of oil products: crude oil processing, wholesale and retail sale of oil products and associated services.
Camber is in the process of acquiring Lineal Star Holdings for its midstream and downstream pipeline integrity services and plans to pursue additional acquisitions in connection with this transaction, which will make them a favorable investment option as the unstable market continues to fluctuate.
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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