HENDERSON, NV / ACCESSWIRE / April 11, 2019 / Some of the biggest moves in the energy space are caused by major deals both before and after execution.
One oil & gas play looking to close a major acquisition in about 4-5 weeks that we are highlighting, 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), Concho Resources Inc. (NYSE: CXO), Noble Energy, Inc. (NBL), NextEra Energy (NYSE: NEE), and Marathon Petroleum Corporation (NYSE: MPC).
Camber Energy, Inc. (CEI) (Market Cap: $5.112M; Share Price: $0.4053) 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 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 to five weeks. Our team made a successful diligence trip this week to meet with the acquisition company's management."
Concho Resources Inc. (CXO) (Market Cap: $21.465B; Share Price: $107.74) announced last week that Oryx Southern Delaware Holdings, LLC, the owner of the Oryx I oil gathering and transportation system, has entered into an agreement to sell 100% of the equity interests in its subsidiaries to Stonepeak Infrastructure Partners for $2.07 billion. Concho owns a 23.75% equity interest in Oryx and will receive approximately $300 million at closing after repayment of Oryx's outstanding borrowings. In February 2018, Concho received a $157 million distribution related to a recapitalization of Oryx. The sale proceeds from Oryx combined with the earlier distribution total approximately $457 million, representing a 10-times multiple on invested capital of approximately $45 million since December 2015.
Concho Resources Inc., an independent oil and natural gas company, engages in the acquisition, development, and exploration of oil and natural gas properties in the United States. The company's principal operating areas are located in the Permian Basin of southeast New Mexico and west Texas. As of December 31, 2018, its estimated proved reserves totaled 1.2 billion barrels of oil equivalent. The company was founded in 2006 and is headquartered in Midland, Texas. It is one of the largest unconventional shale producers in the Permian Basin, with operations focused on acquiring, exploring, developing, and producing oil and natural gas resources. Concho is at the forefront of applying advanced technology and large-scale development to safely and efficiently maximize resource recovery while delivering attractive, long-term economic returns.
Noble Energy, Inc. (NBL) (Market Cap: $12.086B; Share Price: $25.23) recently announced that it has approved the development of the Alen natural gas project situated offshore Equatorial Guinea. Gross capital expenditure for the development of this project is estimated to be $330 million, of which the company's share is nearly $165 million. Natural gas from the Alen field will be processed through the existing Alba Plant LLC liquefied petroleum gas processing plant and EG LNG's liquefied natural gas production facility located at Punta Europa, Bioko Island.
The Alen development is the first step towards creating an offshore natural gas hub in E.G., which will open the potential for future monetization of additional discovered resources through existing infrastructure. Noble Energy has discovered three trillion cubic feet of gross natural gas resources in the Douala Basin, which positions it well for LNG sales exposure over the coming decade.
Noble Energy, Inc., an independent energy company, engages in the acquisition, exploration, development, and production of crude oil, natural gas, and natural gas liquids worldwide. The company owns, operates, develops, and acquires domestic midstream infrastructure assets in the DJ and Delaware Basins. Its principal assets are located in the US onshore unconventional basins and various global offshore conventional basins in the Eastern Mediterranean and off the west coast of Africa.
NextEra Energy, Inc. (NEE) (Market Cap: $90.329B; Share Price: $188.62) announced on April 9 that it plans to report first-quarter 2019 financial results before the opening of the New York Stock Exchange on Tuesday, April 23, 2019, in a news release to be posted on the company's website. The company will issue an advisory news release over PR Newswire the morning of April 23, with a link to the financial results news release, also on the company's website.
NextEra Energy, Inc., through its subsidiaries, generates, transmits, distributes, and sells electric power to retail and wholesale customers in North America. The company generates electricity through wind, solar, nuclear, and natural gas-fired facilities. It also develops, constructs, and operates long-term contracted assets with a focus on renewable generation facilities, natural gas pipelines, and battery storage projects, and owns, develops, constructs, manages and operates electric generation facilities in wholesale energy markets.
NextEra Energy, Inc. is a leading clean energy company headquartered in Juno Beach, Florida. NextEra Energy owns two electric companies in Florida: Florida Power & Light Company, which serves more than 5 million customer accounts in Florida and is the largest rate-regulated electric utility in the United States as measured by retail electricity produced and sold, and Gulf Power Company, which serves more than 460,000 customers in eight counties throughout northwest Florida. NextEra Energy also owns a competitive energy business, NextEra Energy Resources, LLC, which, together with its affiliated entities, is the world's largest generator of renewable energy from the wind and sun and a world leader in battery storage.
For the second consecutive year, Marathon Petroleum Corporation (MPC) (Market Share: $42.781B; Share Price: $63.60) has earned the U.S. Environmental Protection Agency, ENERGY STAR Partner of the Year award, which recognizes not just top-tier energy efficiency across its business, but also excellent environmental compliance. The company operates the nation's largest refining system with more than 3 million barrels per day of crude oil capacity across 16 refineries. Its refineries have earned more ENERGY STAR awards than all other U.S. refiners combined. Marathon Petroleum is the only petroleum refining company to earn the award in 2018 and 2019.
Marathon Petroleum Corporation, together with its subsidiaries, engages in refining, marketing, retailing, and transporting petroleum products primarily in the United States. It operates through three segments: Refining & Marketing, Retail, and Midstream. The Refining & Marketing segment refines crude oil and other feed stocks at its 16 refineries in the West Coast, Gulf Coast, and Mid-Continent regions of the United States; and purchases refined products and ethanol for resale.
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 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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