Night Rider Took off the Road Ride .Target $2.45 (Post Market)
Energy stocks were climbing pre-bell Friday as the Energy Select Sector SPDR (XLE) was recently advancing by 0.5%. The United States Oil Fund (USO) was up 0.3% and the United States Natural Gas Fund (UNG) was nearly 2% lower.
Front-month benchmarks West Texas Intermediate crude oil was up $0.93 at $79.23 per barrel at the New York Mercantile Exchange, while Brent crude gained $0.36 to $82.84 per barrel. Natural gas futures were $0.030 lower at $5.647 per 1 million British Thermal Units.
Camber Energy (CEI) was rallying past 30% in recent trading. On Tuesday, the company responded to a short seller report from Kerrisdale Capital after its shares slumped 52% during afternoon trading of the same day. Kerrisdale claimed that Camber Energy is a "defunct oil producer" and that its only asset is its 73% stake in Viking Energy, which allegedly has negative book value. Kerrisdale said Camber Energy is "in danger of having its stock delisted next month" noting that Camber is delinquent on its financials. In response, Camber Chief Executive James Doris said "our business relationships are legitimate and that we are firmly committed to improving the organization's capitalization and executing on our growth strategy."
Northern Oil and Gas (NOG) was still up more than 1% recently, a day after the company announced a deal to acquire non-operated interests in more than 400 producing wellbores in North Dakota for $154 million in cash.
Front-month benchmarks West Texas Intermediate crude oil was up $0.93 at $79.23 per barrel at the New York Mercantile Exchange, while Brent crude gained $0.36 to $82.84 per barrel. Natural gas futures were $0.030 lower at $5.647 per 1 million British Thermal Units.
Camber Energy (CEI) was rallying past 30% in recent trading. On Tuesday, the company responded to a short seller report from Kerrisdale Capital after its shares slumped 52% during afternoon trading of the same day. Kerrisdale claimed that Camber Energy is a "defunct oil producer" and that its only asset is its 73% stake in Viking Energy, which allegedly has negative book value. Kerrisdale said Camber Energy is "in danger of having its stock delisted next month" noting that Camber is delinquent on its financials. In response, Camber Chief Executive James Doris said "our business relationships are legitimate and that we are firmly committed to improving the organization's capitalization and executing on our growth strategy."
Northern Oil and Gas (NOG) was still up more than 1% recently, a day after the company announced a deal to acquire non-operated interests in more than 400 producing wellbores in North Dakota for $154 million in cash.