HENDERSON, NV / ACCESSWIRE / April 9, 2019 / It was a week where the U.S. crude benchmark reached its highest point in five months, owing largely to production cuts from the OPEC-led group of exporters and drop-in supply from Venezuela and Iran. The 'OPEC+ deal' (an alliance of OPEC, Russia and other non-member countries) is withholding output by around 1.2 million barrels per day until the end of June. U.S. sanctions against Venezuela and Iran also continue to tighten the commodity's fundamentals. Also, hefty draws in product inventories such as gasoline and distillate boosted bullish sentiment in the energy market. Data showing drillers in the United States removing oil rigs - an indicator of lower future output in North America - also contributed to the gains. With sentiment in the sector looking strong, we are highlighting a few energy stocks to research today.
The first company we're highlighting, Camber Energy (CEI), recently announced the execution of a letter intent relating to the proposed acquisition of a midstream pipeline integrity services, specialty construction and field services company, in an all-stock transaction. After showing recently that the company has improved their efficiency, this is another positive development to monitor.
Today we're highlighting: Camber Energy, Inc. (CEI), TransCanada Corporation (NYSE: TRP), Forum Energy Technologies, Inc. (FET), Energy Transfer LP (NYSE: ET), and TechnipFMC (NYSE: FTI).
Camber Energy, Inc. (CEI) (Market Cap: $4.591M; Share Price: $0.3640) recently 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.
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TransCanada Corporation (TRP) (Market Cap: $42.791B; Share Price: $46.28) recently announced that it has notified the registered shareholder of the applicable dividend rates for Cumulative Redeemable First Preferred Shares, Series 7 (Series 7 Shares) and the Cumulative Redeemable First Preferred Shares, Series 8 (Series 8 Shares). As previously announced in a different news release, holders of the Series 7 Shares have the right on April 30, 2019 to convert, on a one-for-one basis, any or all of their Series 7 Shares into Series 8 Shares and receive a floating rate quarterly dividend, or retain any or all of their Series 7 Shares and receive a new fixed rate quarterly dividend.
TransCanada Corporation operates as an energy infrastructure company in North America. It operates through Canadian Natural Gas Pipelines, U.S. Natural Gas Pipelines, Mexico Natural Gas Pipelines, Liquids Pipelines, and Energy segments. The company transports natural gas to local distribution companies, power generation plants, industrial facilities, interconnecting pipelines, and other businesses.
With more than 65 years' experience, TransCanada is a leader in the responsible development and reliable operation of North American energy infrastructure including natural gas and liquids pipelines, power generation and gas storage facilities. TransCanada operates one of the largest natural gas transmission networks that extends more than 92,600 kilometers (57,500 miles), connecting major gas supply basins to markets across North America. TransCanada is a leading provider of gas storage and related services with 653 billion cubic feet of storage capacity. A large independent power producer, TransCanada currently owns or has interests in more than 6,600 megawatts of power generation in Canada and the United States. TransCanada is also the developer and operator of one of North America's leading liquids pipeline systems that extends approximately 4,900 kilometers (3,000 miles), connecting growing continental oil supplies to key markets and refineries.
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Forum Energy Technologies, Inc. (FET) (Market Cap: $638.53M; Share Price: $5.82) announced recently that it will host its first quarter 2019 earnings conference call on Friday, April 26, 2019. Forum will issue a press release regarding its first quarter 2019 earnings prior to the conference call.
To participate in the earnings conference call, please call 855-757-8876 within North America, or 631-485-4851 outside of North America. The access code is 8747933.
Forum Energy Technologies, Inc. designs, manufactures, and distributes products to the oil and natural gas industry in the United States and internationally. The company operates through three segments: Drilling & Subsea, Completions, and Production & Infrastructure. The Drilling & Subsea segment designs and manufactures products, and provides related services to the drilling, energy subsea construction and service markets, and other markets, such as alternative energy, defense, and communications.
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Energy Transfer LP (ET) (Market Share: $41.203B; Share Price: $15.73) recently announced that it is expanding its presence in China to meet growing demand for ethane and liquid natural gas products by opening an office in Beijing, the first office for Energy Transfer outside the United States. This strategic move allows Energy Transfer to better leverage the increasing business opportunities in the exportation of much-needed energy products to the China and other Asian markets, and to facilitate growth across Energy Transfer's diverse platform of assets.
Energy Transfer owns and operates one of the largest and most diversified portfolios of energy assets in the United States, with a strategic footprint in all of the major U.S. production basins. It provides diversified energy-related services in the United States. The company owns and operates approximately 9,400 miles of natural gas transportation pipelines and three natural gas storage facilities in Texas and approximately 12,200 miles of interstate natural gas pipelines. It sells natural gas to electric utilities, independent power plants, local distribution companies, industrial end-users, and other marketing companies.
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TechnipFMC (FTI) (Market Share: $11.35B; Share Price: $25.28) recently has been awarded a substantial integrated Engineering, Procurement, Construction and Installation contract from Neptune Energy for the Duva and Gjøa P1 projects, located in the Norwegian sector of the North Sea at a water depth of 375 meters. The contract covers the delivery and installation of subsea equipment including umbilicals, rigid flowlines and subsea production system. In March, the company was also awarded a large integrated Engineering, Procurement, Construction, Transportation and Installation (iEPCI™) contract by Eni for the Merakes project, located offshore Balikpapan Indonesia, at a water depth of approximately 1,500 meters.
TechnipFMC plc engages in the oil and gas projects, technologies, and systems and services businesses. It operates through three segments: Subsea, Onshore/Offshore, and Surface Technologies. The Subsea segment manufactures and designs products and systems, performs engineering, procurement, and project management, and provides services used by oil and gas companies involved in deep-water exploration and production of crude oil and natural gas.
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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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