HENDERSON, NV / ACCESSWIRE / March 7, 2019 / After the recovery in global oil and gas drilling in 2018, World Oil forecasts this year the pace of drilling growth around the world is set to step up.
The undisputed leader in drilling activity last year was the United States, with shale production surging and it will continue to lead growth in global drilling activity in 2019 as well.
Excluding the United States, the world's drilling activity is set to increase by 2.5% to 46,209 wells expected to be drilled in 2019, following more modest 1.6-percent growth in drilling in 2018, World Oil has estimated.
With drilling on the rise, we looked at a few stocks in the industry worth researching. Camber Energy (CEI) was one of the first companies we looked at. The company recently turned a nearly 30 million shareholders' deficit into $2.3 million of positive shareholders' equity, increasing liquidity and extinguishing debt.
Today we are highlighting: Camber Energy, Inc. (CEI), Transocean Ltd. (RIG), Antero Resources Corporation (AR), Concho Resources, Inc. (CXO), and Patterson-UTI Energy, Inc. (PTEN).
Camber Energy, Inc. (CEI) (Market Cap: $5.498M; Share Price: $0.4359) has worked very hard recently to improve their standing with the NYSE American and spent a lot of 2018 cleaning up the company 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. 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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Transocean Ltd. (RIG) (Market Cap: $5.106B; Share Price: $8.37) recently announced their 4Q numbers; despite revenue increasing compared with this time last year, the numbers were seen as lackluster. The most impressive number is the company's respectable EBITDA margin despite much lower contract rates and a 62% fleet utilization rate.
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Antero Resources Corporation (AR) (Market Cap: $2.654B; Share Price: $8.60) also released its 4Q numbers recently and faired a touch better than RIG. AR's output topped the 3 billion cubic feet equivalent per day (Bcfe/d) mark for the quarter, which was a record for the company. Overall, production surged 18% sequentially and 37% year over year. The company produced an average of 162,077 barrels per day for the quarter, which was up 51% compared with the prior-year period.
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Concho Resources, Inc. (CXO) (Market Cap: $21.130B; Share Price: $105.34) filed its latest 10-K with SEC for the fiscal year ended on December 31, 2018. Concho Resources Inc is an oil and natural gas company. It is engaged in the acquisition, development, exploitation and exploration of producing oil and natural gas properties. It operates in the Delaware Basin. Concho Resources Inc has a market cap of $22.52 billion.
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Patterson-UTI Energy, Inc. (PTEN) (Market Cap: $2.771B; Share Price: $12.97) recently reported fourth-quarter adjusted net loss per share of 4 cents, narrower than the Zacks Consensus Estimate of 14 cents. The better-than-expected results can be attributed to increase in day rates and rig margins, which in turn supported its contract drilling segment. The company's performance also improved from the year-ago loss of 10 cents per share.
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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