The United States oil and gas rig count dropped by 4 this week, according to Baker Hughes right before the U.S. Independence Day holiday.
The combined oil and gas rig count is 963 for the week, with oil at a 75-rig decrease year on year and gas rigs down 13 from last year.
Year-to-date, the collective oil rig count has fallen by 70, while gas rigs have dropped by 13 since the beginning of the year.
Despite the rig decline this year, U.S. production is almost 1.2 million barrels per day higher—which roughly offsets the deficit of OPEC’s production cut agreement.
Provided U.S. production numbers in relation to the OPEC cuts, there is one company in particular that we’d like to pay special attention to: Camber Energy, Inc. (CEI) (“Camber”).
Holding nearly 15,000 net drilling acres within the United States alone, Camber is an independent, growth-oriented oil and gas company based in Houston, Texas, engaged in the development of crude oil, natural gas, and natural gas liquids.
Today we’re highlighting: Camber Energy, Inc. (NYSE American: CEI), Duke Energy Corporation (NYSE: DUK),Tenaga Nasional Berhad (OTCPINK: TNABY), PetroChina Company Limited (NYSE: PTR), Cenovus Energy Inc. (NYSE: CVE).
Camber Energy, Inc. (NYSE: CEI), (Market Cap: $5.411M; Share Price: $0.1176), 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.
The company announced on July 2nd, 2019 that their Board of Directors has approved a 1 for 25 reverse split of the Company’s issued and outstanding shares of common stock. The 1 for 25 reverse stock split will be effective pre-market open on Monday, July 8, 2019, in connection with the filing of a Certificate of Amendment to Camber’s Certificate of Incorporation and Camber’s common stock will begin trading on a split adjusted basis when the market opens on Monday, July 8, 2019.
Duke Energy Corporation (NYSE: DUK), (Market Cap: $65.291B; Share Price: $89.68), Duke Energy Corp. announced on July 3rd the companies solar portfolio capacity recently exceeded 1 gigawatt (GW), courtesy of its solar expansion in North Carolina and California. Currently, the utility provider boasts a solar portfolio that includes almost 70 sites in 10 states, with a total capacity of 1.1 GW. At peak output, Duke Energy’s solar facilities can now lighten up 2 million homes.
Notably, the company’s 150-megawatt (MW) California-based North Rosamond solar project, which came online last month, helped it to surpass the 1 GW benchmark.
Alongside expanding its existing solar footprint in North Carolina, California and South Carolina, Duke Energy’s primary focus is to strengthen its solar portfolio in the Sunshine State.
Tenaga Nasional Berhad (OTCPINK: TNABY), (Market Cap: $18.324B; Share Price: $13.44), Tenaga Nasional Berhad (TNB) is the largest electricity utility in Malaysia and a leading utility company in Asia. Listed on the Main Board of Bursa Malaysia with almost RM87 billion in assets, the Companys more than 33,500 employees serve an estimated 8.3 million customers in Peninsular Malaysia, Sabah and Labuan.
PetroChina Company Limited (NYSE: PTR), (Market Cap: $172.572B; Share Price: $54.50), PetroChina Company Limited, together with its subsidiaries, engages in a range of petroleum related products, services, and activities in Mainland China and internationally. It operates through Exploration and Production, Refining and Chemicals, Marketing, and Natural Gas and Pipeline segments. The Exploration and Production segment engages in the exploration, development, production, and marketing of crude oil and natural gas. The Refining and Chemicals segment refines crude oil and petroleum products; and produces and markets primary petrochemical products, derivative petrochemical products, and other chemical products. The Marketing segment is involved in the marketing of refined products and trading business. The Natural Gas and Pipeline segment engages in the transmission of natural gas, crude oil, and refined products; and sale of natural gas.
Cenovus Energy Inc. (NYSE: CVE), (Market Cap: $11.139B; Share Price: $8.95), Cenovus Energy Inc., together with its subsidiaries, develops, produces, and markets crude oil, natural gas liquids, and natural gas in Canada and the United States. The company’s Oil Sands segment develops and produces bitumen in northeast Alberta. This segment’s bitumen assets include Foster Creek, Christina Lake, and Narrows Lake, as well as other projects in the early stages of development, such as Telephone Lake. This segment also holds the Athabasca natural gas assets. Its Deep Basin segment holds assets primarily located in Elmworth-Wapiti, Kaybob-Edson, and Clearwater operating areas of British Columbia and Alberta, and include interests in natural gas processing facilities. The company’s Refining and Marketing segment transports, sells, and refines crude oil into petroleum and chemical products.
Camber is also in the process of acquiring Lineal Star Holdings for its midstream and downstream pipeline integrity services, making them a favorable investment option in terms of production quality, volume, and sustainability.
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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