Camber Energy has reported its January 2019 update
HOUSTON -- Camber Energy, Inc., based in Houston, Texas, an independent oil and gas company engaged in the development of crude oil, natural gas and natural gas liquids, has provided a monthly update on its workover activities.
In the Panhandle in Hutchinson County, Texas, the Company's production has taken longer to reach its full potential due to unforeseen weather, compressor and electrical work delays as well as delays in the installation of an oil separator. As a result, the company estimates that gross January 2019 production, based on flow tests, will total approximately 2,205 Mcfg and 223 bbl of oil, for projected gross monthly revenues of approximately $26,000 this month. This is an estimated improvement of approximately 60% from the month of December 2018.
The Interim CEO of Camber, Louis G. Schott, noted, "While the company has been disappointed in the delays, we are still very excited about the future of the Panhandle project.''
Mr. Schott added, "Additionally, the company is continuing to evaluate other acquisition and merger opportunities."
