HENDERSON, NV / ACCESSWIRE / April 5, 2019 / Following the oil crash toward the end of 2018 that caught everyone off guard, crude ended up posting the biggest first-quarter gain in a decade. With oil popping up to $60.55 a barrel, the March quarter witnessed the fastest rate of oil price increase since 2009.
Prices rose 30% during the quarter, underpinned mainly by OPEC+ supply cuts, and U.S. sanctions against Venezuela and Iran. Despite concerns about global economic slowdown, demand for crude oil is likely to remain stable in the near term.
With that in mind, we decided to focus on oil & gas stocks that you should start researching to take advantage of this rising market.
The first oil & gas play on our list, Camber Energy (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), Extraction Oil & Gas, Inc. (NASDAQ: XOG), Magnolia Oil & Gas Corporation (MGY), Aqua America, Inc. (NYSE: WTR), and Pembina Pipeline (NYSE: PBA).
Camber Energy, Inc. (CEI) (Market Cap: $4.388M; Share Price: $0.3479) 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 should research CEI. The company also announced the execution of a non-binding Letter of Intent in connection with the company's planned acquisition of a midstream pipeline integrity services, specialty construction and field services company in an all-stock transaction.
Extraction Oil & Gas, Inc. (XOG) (Market Cap: $838.899B; Share Price: $4.89) announced that their board of directors has approved an extension and increase in its ongoing stock repurchase program. The program was originally announced on November 18, 2018, under which Extraction was initially authorized to repurchase up to $100.0 million of its outstanding common stock from time to time in the open market, through negotiated transactions or otherwise. The program is expected to be funded through internally generated cash flow and ongoing asset sales. The extended stock repurchase program will expire December 31, 2019. To date under the program, Extraction has repurchased approximately 13 million shares of its common stock for $63 million. Under the extended program, Extraction is authorized to repurchase an incremental $100 million in common stock from the date of the extension, bringing the total amount authorized to be repurchased to approximately $163 million.
Extraction Oil & Gas, Inc., an independent oil and gas company, focuses on the acquisition, development, and production of oil, natural gas, and natural gas liquid reserves in the Rocky Mountain region, primarily in the Wattenberg Field of the Denver-Julesburg (DJ) Basin of Colorado. The company also engages in the construction and support of midstream assets to gather, process, and produce crude oil and gas.
Magnolia Oil & Gas Corporation (MGY) (Market Cap: $3.191B; Share Price: $12.78) announced its financial and operational results for the fourth quarter of 2018 in February. Highlights include: fourth quarter net income attributable to Class A Common Stock of $32.9 million, or $0.21 per diluted share or $0.22 on an adjusted basis, total net income (including the non-controlling interest) of $57.8 million. MGY's Fourth quarter 2018 production in the Giddings Field increased 22 percent sequentially to 20.6 Mboe/d over the Q3 Successor Period, largely due to the completion of new wells. Adjusted EBITDAX of $193.0 million during the fourth quarter of 2018 with drilling and completions capital expenditures of $110.8 million during the same period (approximately 57% of Adjusted EBITDAX). Total company production averaged 61.9 thousand barrels of oil equivalent per day ("Mboe/d") for the fourth quarter of 2018, or a 5 percent sequential increase compared to the period from July 31, 2018 through September 30, 2018 ("the Q3 Successor Period").
Magnolia Oil & Gas Corporation engages in the business of acquisition, development, exploration, and production of oil, natural gas, and natural gas liquids reserves in the United States.
Aqua America, Inc. (WTR) (Market Cap: $6.48B; Share Price: $36.33), the second-largest publicly traded water and wastewater utility based in the U.S., announced that it will receive nearly $750 million investment from Canada Pension Plan Investment Board ("CPPIB"). The investment is expected to close concurrently with, and contingent upon, the Peoples acquisition. This funding will help Aqua America to complete its pending acquisition of privately-owned natural gas utility, Peoples Natural Gas. The acquisition, on completion, will create a unique utility that will provide water and natural gas services. Through the $750-million investment, CPPIB will acquire nearly 21.7 million newly issued shares of Aqua America's common stock.
Aqua America, Inc., through its subsidiaries, operates regulated utilities that provide water or wastewater services in the United States. It offers water services through operating and maintenance contracts with municipal authorities and other parties.
Pembina Pipeline Corporation (PBA) (Market Cap: $18.988B; Share Price: $37.23) announced that it has closed its previously announced offering of $800 million of senior unsecured medium-term notes (the "Offering"). The Offering was conducted in two tranches consisting of $400 million in senior unsecured medium-term notes, series 12 (the "Series 12 Notes") having a fixed coupon of 3.62% per annum, paid semi-annually, and maturing on April 3, 2029, and $400 million in senior unsecured medium-term notes, series 13 (the "Series 13 Notes") having a fixed coupon of 4.54% per annum, paid semi-annually, and maturing on April 3, 2049. The net proceeds will be used to repay short-term indebtedness of the company under its credit facilities, as well as to fund Pembina's capital program and for general corporate purposes.
Pembina Pipeline Corporation provides transportation and midstream services for the energy industry in North America. It operates through three divisions: Pipelines, Facilities, and Marketing & New Ventures.
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.
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