Big Oil Bidding Wars Benefit Growth Cos – This week of May

April 30 23:00 2019

Chevron Corp. shocked Wall Street in April by announcing a $33 billion buyout of oil and gas production company Anadarko Petroleum. Less than two weeks later, Occidental Petroleum Corp. announced a competing $57 billion buyout bid for Anadarko. When big oil comes calling, the numbers can escalate quickly, which is why it’s always a good idea to research and potentially invest in, smaller oil & gas companies. 

One oil & gas exploration company to keep an eye on is Camber Energy (CEI). The company is set to close on an acquisition within the next couple weeks. It has already received preliminary non-binding approval from the staff of the NYSE American of the planned terms of its contemplated acquisition of a midstream pipeline integrity services, specialty construction and field services company in an all-stock transaction. CEI has worked very hard recently to improve their standing with the NYSE American, and spent a lot of 2018 cleaning up the company’s balance sheet 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. Start your research now.

Today we’re highlighting: Camber Energy, Inc. (CEI), Obsidian Energy Ltd. (OBE), Diamond Offshore Drilling, Inc. (DO), BP Prudhoe Bay Royalty Trust (BPT), and Pacific Ethanol, Inc. (PEIX).

Camber Energy, Inc. (CEI) (Market Cap: $6.759M; Share Price: $0.3382) turned a nearly $30 million shareholder deficit into $2.3 million of positive shareholders’ equity, increasing liquidity, extinguishing debt and fast tracking the company for regaining NYSE American compliance. 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. The company also announced the execution of a revised non-binding Letter of Intent in connection with the company’s previously announced planned acquisition of a midstream pipeline integrity services, specialty construction and field services company in an all-stock transaction.

Louis G. Schott, the Interim CEO of Camber noted, ”We have revised the Letter of Intent based on discussions with the NYSE American. This positions both parties towards a planned closing in the next four weeks. Our team recently made a successful diligence to meet with the acquisition company’s management.”

Obsidian Energy Ltd. (OBE) (Market Cap: $153.75M; Share Price $0.3073) announced in mid-April an operational update on their Cardium drilling program. “We are examining every facet of the business to ensure we are always making improvements, including a continual review of our capital allocation, cost structure, and portfolio composition,” commented Michael Faust, Interim President and CEO.

Obsidian Energy Ltd. explores for, develops, and produces oil and natural gas in western Canada. It holds interests in the Alberta Viking, Cardium, Deep Basin, and Peace River areas. The company was formerly known as Penn West Petroleum Ltd. and changed its name to Obsidian Energy Ltd. in June 2017. Obsidian Energy Ltd. was founded in 1979 and is headquartered in Calgary, Canada.

Diamond Offshore Drilling, Inc. (DO) (Market Cap: $1.37B; Share Price: $9.95) recently announced that it will issue a press release and host a conference call and webcast related to its first quarter 2019 operating results on Monday, April 29, 2019. The conference call and webcast will begin at 8:00 a.m. CDT and will include a discussion by management regarding the Company’s results of operation.

Diamond Offshore Drilling, Inc. provides contract drilling services to the energy industry worldwide. The company operates a fleet of 17 offshore drilling rigs, including 4 drill ships and 13 semisubmersible rigs. It serves independent oil and gas companies, and government-owned oil companies. The company was founded in 1953 and is headquartered in Houston, Texas. Diamond Offshore Drilling, Inc. operates as a subsidiary of Loews Corporation and the latter has 53% ownership in DO. It was added to the S&P SmallCap 600 GICS Oil & Gas Drilling Sub-Industry index in March 2019.

BP Prudhoe Bay Royalty Trust (BPT) (Market Cap: $432.28M; Share Price: $20.20) announced in 1st week of April the dividend information for the First Quarter of 2019. A cash dividend payment of $0.345 per share had been scheduled to be paid on April 22, 2019. This represents a 65.6% decrease from the prior dividend payment.

BP Prudhoe Bay Royalty Trust operates as a grantor trust in the United States. The company holds overriding royalty interest comprising a non-operational interest in minerals in the Prudhoe Bay oil field located on the North Slope of Alaska. The Prudhoe Bay field extends approximately 12 miles by 27 miles and contains approximately 150,000 gross productive acres.

Pacific Ethanol, Inc. (PEIX) (Market Cap: $53.736M; Share Price: $1.0991) announced last month that Pacific Ethanol Pekin, LLC and Kinergy Marketing LLC, each a direct or indirect wholly-owned subsidiary of Pacific Ethanol, Inc., entered into amendments to their credit agreements and related agreements with their respective lenders which returns Pekin to full compliance with its credit facility and provides additional liquidity under the Kinergy credit agreement to help facilitate the Company’s strategic initiatives.

Pacific Ethanol, Inc. produces and markets low-carbon renewable fuels and alcohol products in the United States. The company operates in two segments, Production and Marketing. It produces and markets ethanol and co-products, such as wet and dry distillers’ grains, wet and dry corn gluten feed, condensed distillers soluble, corn gluten meal, corn germ, corn oil, distillers’ yeast, and CO2, as well as markets ethanol produced by third parties.

It is a leading producer and marketer of low-carbon renewable fuels and high-quality alcohol products in the United States. Pacific Ethanol owns and operates nine production facilities, four in the Western states of California, Oregon and Idaho, and five in the Midwestern states of Illinois and Nebraska. The plants have a combined production capacity of 605 million gallons per year, produce over one million tons per year of ethanol co-products – on a dry matter basis. Pacific Ethanol’s subsidiary, Kinergy Marketing LLC, markets all ethanol and alcohol products for Pacific Ethanol’s plants as well as for third parties, approaching one billion gallons of ethanol marketed annually based on historical volumes.

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. Regal Consulting and CEI have agreed to amend the current agreement and extend it until October 2019, the amendment calls for $50,000 in cash, and 50,000 restricted 144 shares of CEI. 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 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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