Blog Coverage Camber Energy Views Expansion in Permian Basin; Expands Foothold by 13,000 Net Acres

Upcoming AWS Coverage on RSP Permian Post-Earnings Results

LONDON, UK / ACCESSWIRE / February 27, 2017 / Active Wall St. blog coverage looks at the headline from Houston, Texas based Camber Energy, Inc. (NYSE: CEI) as the oil and gas exploration Company announced on February 24, 2017 that its newly formed subsidiary, Camber Permian LLC (CPII) has entered into a definitive Purchase and Sale Agreement with private sellers to acquire oil and gas establishments on lease, covering approximately 15,500 gross acres (13,000 net acres) in the Permian Basin for $11.03 million, under the ‘Arrowhead Project’. Register with us now for your free membership and blog access at:

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One of Camber Energy’s competitors within the Oil & Gas Drilling & Exploration space, RSP Permian, Inc. (NYSE: RSPP), announced on February 01, 2017, that it will release its Q4 and full-year 2016 financial and operating results after the NYSE closes on Monday, February 27, 2017. AWS will be initiating a research report on RSP Permian in the coming days.

Today, AWS is promoting its blog coverage on CEI; touching on RSPP. Get all of our free blog coverage and more by clicking on the link below:

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Arrowhead Project: Geographical Considerations

The Arrowhead Project will cover a contiguous block of acreage across the Yoakum and Cochran County line of the Permian Basin inclusive of a completed horizontal San Andres well and a salt-water deposit well, where both are not operational currently. CPII plans to put the San Andres well into production, once the salt-water deposit well kicks into operation. The agreement is accretive to the Company’s growth prospects in the rapidly-emerging horizontal San Andreas play of the Permian Basin. Geographically, the Arrowhead Project differs from previous leases of San Andre’s acreage positions by the Company and is set to expand and diversify the firm’s prospects.

Financial Matters

Concurrent with the execution of the transaction, CPII entered into an exploration agreement with certain undisclosed joint-venture partners. This agreement is set to deliver CPII access to proprietary technical and geological database concerning the Arrowhead Project. The acquisition of the Arrowhead Project will initially be funded by Jaffe Energy, Inc. CPII is structured to be jointly owned by Camber Energy and JEI, where each entity would hold equal stakes. CPII expects to drill and complete the initial wells at the Arrowhead Project during 2017, subject to release of development financing. As a consideration, the joint venture partners have an option to own up to a 10% of working interest, where 5% of which is covered under the lease acquisition. CPII will hold the remaining 90% to 95% working interest in the leasehold, while controlling the operations of the subject properties.

The Permian Basin Contract

On January 03, 2017, Camber Energy, previously known as Lucas Energy, Inc., announced that it has entered into a Lease Acquisition and Participation agreement with a privately-held, Houston, Texas-based oil and gas Company to acquire a leasehold position in the Permian basin in Texas. Under the agreement, Camber Energy initially acquired leasehold comprising of 16,322 gross acres (or 3,630 net mineral acres). Post the execution of the transaction, Camber owned a 90% of working interest in the properties. The Company executed a payout of $1.43 million for the initial leasehold while acquiring operational control over the properties.

This agreement targeted the San Andres formation, found at relatively shallow depths, averaging at about 4,800 feet with a production capacity of about 6 billion barrels of oil to date, where 2 billion barrels were produced from the Central Basin area. The agreement was closed recently, on February 07, 2017.

Growth Prospects

With the execution of this agreement, targeted to close on or before March 30, 2017, the Company is targeting multi-year growth opportunity and an inventory of more than 75 potential drilling locations. At the closing of the transaction, Camber Energy will have a position of about 16,000 net acres in the Permian Basin area. This acquisition is reportedly a step to expand the Company’s foothold in the Permian basin and is set to deliver greater value to shareholders while outperforming market expectations.

Stock Performance

At the close of trading session on Friday, February 24, 2017, Camber Energy’s stock price surged 16.90% to end the day at $0.83. A total volume of 1.75 million shares were exchanged during the session, which was above the 3-month average volume of 729.21 thousand shares. The stock currently has a market cap of $16.90 million.

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