Oil prices maintained on Wednesday, right before a major U.S. holiday, after a steep decline in the previous session when apprehensions of a slowing global market outweigh the decision by OPEC and its allies to elongate crude production cuts until March of 2020.
U.S. crude inventories dropped by 1.1 million barrels in the past week, a significantly smaller decline than what most analysts had initially expected.
In a recent statement by Andrew Lipow, president of Lipow Oil Associates, Lipow indicated that “The market is disappointed by a very small crude oil inventory draw … the only sign of strength in the market is the continued modest decline of gasoline inventories.”
As the OPEC draw extension shakes things up, Camber Energy, Inc. (CEI) (“Camber”) is a crude oil company preparing for a prosperous future.
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.
As they eagerly await closing of a planned acquisition with Lineal Star Holdings (“Lineal”), www.LinealStar.com, a midstream pipeline integrity services, specialty construction, and field services company, they are currently in the process of initiating a reverse stock split with its main objective to increase the market price per share of Camber’s common stock in order to ensure the continued compliance of the Company’s common stock with the NYSE continued listing standards relating to minimum prices per share.
Today we’re highlighting: Camber Energy, Inc. (NYSE American: CEI), EOG Resources, Inc. (NYSE: EOG), BP p.l.c. (NYSE: BP), Bharat Petroleum Corporation Limited (NSE: BPCL.NS), Electricité de France S.A. (OTCPINK: ECIFY).
Camber Energy, Inc. (NYSE: CEI), (Market Cap: $5.579M; Share Price: $0.1183), 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 1for25 reverse split of the Company’s issued and outstanding shares of common stock. The 1for25 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.
EOG Resources, Inc. (NYSE: EOG), (Market Cap: $47.598B; Share Price: $87.20) EOG Resources, Inc., together with its subsidiaries, explores for, develops, produces, and markets crude oil and natural gas. The company’s principal producing areas are located in New Mexico, North Dakota, Texas, Utah, and Wyoming in the United States; and the Republic of Trinidad and Tobago, the People’s Republic of China, and Canada. As of December 31, 2018, it had total estimated net proved reserves of 2,928 million barrels of oil equivalent, including 1,532 million barrels (MMBbl) crude oil and condensate reserves; 614 MMBbl of natural gas liquids reserves; and 4,687 billion cubic feet of natural gas reserves.
BP p.l.c. (NYSE: BP), (Market Cap: $140.874B; Share Price: $41.36), BP p.l.c. engages in energy business worldwide. The company operates through three segments: Upstream, Downstream, and Rosneft. The Upstream segment is involved in the oil and natural gas exploration, field development, and production; midstream transportation, storage, and processing; and marketing and trading of liquefied natural gas (LNG), biogas, power and natural gas liquids (NGLs). This segment also engages in the ownership and management of crude oil and natural gas pipelines; processing facilities and export terminals; and LNG processing facilities and transportation, as well as in NGLs processing business. The Downstream segment refines, manufactures, markets, transports, supplies, and trades in crude oil, petroleum, and petrochemical products and related services to wholesale and retail customers. It offers gasoline, diesel, and aviation fuel; lubricants, and related products and services to the automotive, industrial, marine, and energy markets under the Castrol, BP, and Aral brands; and petrochemical products, such as purified terephthalic acid, paraxylene, acetic acid, olefins and derivatives, and specialty petrochemical products.
Bharat Petroleum Corporation Limited (NSE: BPCL.NS), (Market Cap: $832.304B; Share Price: $381.20), Bharat Petroleum Corporation Limited refines crude oil and markets petroleum products in India. The company operates through two segments, Downstream Petroleum; and Exploration and Production of Hydrocarbons. It operates fuel stations that sell petrol, diesel, automotive liquefied petroleum gas (LPG), and compressed natural gas. The company has a network of 13,439 fuel stations with 8,403 fully automated fuel stations. The company also provides Bharat Gas Fuels to approximately 42 million homes; industrial LPG; MAK Lubricants, such as automotive engine oils, gear oils, transmission oils, specialty oils and grease; and jet fuel and aero lubricants to airline customers and aircraft operators, as well as operates oil refineries in Mumbai and Kochi. In addition, it offers industrial fuels products, such as industrial gases, naphtha, diesel, kerosene, white oil, black oil, furnace oil, bitumen, sulphur, and solvents and special products, as well as industrial lubricants.
Electricité de France S.A. (OTCPINK: ECIFY), (Market Cap: $22.981B; Share Price: $2.51), Electricité de France S.A., an integrated energy company, engages in the generation, transmission, distribution, supply, and trading of power and energy services in France, the United Kingdom, Italy, and internationally. The company generates electricity through nuclear, fossil fuel, hydro, solar, wind, biomass, biogas, tidal, geothermal, and cogeneration plants. The company also manages low and medium-voltage public electricity distribution networks; operates, maintains, and develops high-voltage and very-high-voltage electricity transmission networks; and services and produces equipment and fuel for nuclear reactors. In addition, it is involved in commodity trading activities; and the provision of energy services, including district heating services, thermal energy services, etc.
As global production cuts and signs of an economic slowdown continues to bother investors, it’s up to the forward-thinking companies, like Camber, to plan ahead and provide the most prosperous future possible for its shareholders.
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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