An Established Platform for Growth
Camber Energy (formerly Lucas Energy) is a recently restructured, publicly-traded energy company, with a balanced asset base in Texas and Oklahoma, that is actively engaged in the exploitation, development, and production of crude oil, natural gas and natural gas liquids. We are committed to building shareholder value through the accelerated growth of our oil and gas operations and the expansion of our asset portfolio. Our exceptional management team has successfully streamlined our day-to-day operations and managed cash flows while capitalizing on strategic opportunities.
Productive Assets in Texas and Oklahoma
Our South Texas properties include 100% working interest in over 7,300 acres, primarily producing crude oil from the Austin Chalk formation; and approximately 1,300 acres of this position produces from the Eagle Ford Shale, one of the most prolific resource plays in the U.S , where the Company has non-operated working interests. We acquired over 13,000 net acres in the liquids-rich Hunton formation in Central Oklahoma, and 553 net acres in the Permian Basin of Texas pursuant to the Company's transaction with Segundo Resources, et al., which closed in August of 2016. In January 2017, we established an initial leasehold position by acquiring 3,630 net acres in pursuit of the San Andres play on the Central Basin Platform region of the Permian Basin. This expands the Company's exposure and its asset base in the Permian.
Establishing Initial Permian Basin Leasehold Position
With the recent Permian Basin transaction, the Company acquired 3,630 net mineral acres targeting the San Andres formation in the Central Basin Platform (CBP) region of the Permian. The CBP is found between the Midland Basin and Delaware Basin, and until recently, it historically has been developed from traditional, vertical wells. But, over the past decade, the application of hydraulic fracturing and horizontal drilling and completion techniques have proven, once again, that the Permian will continue to yield world class results. The San Andres is one of the more recent geologic objectives where horizontal drilling and development techniques have proven effective, unlocking yet another exciting horizontal play. To-date, this has primarily been pursued by small, private exploration and production companies, although certain public companies have entered the play and reported successful well results at high early production rates.
Our Goal is Expansion
Our primary objective is to seek additional working interests, expand our asset base and consolidate our leasehold interests when ready to drill. By "right-sizing" our operations and using a combination of debt/equity in conjunction with optimal cash flow, we seek to achieve our full potential. Through a disciplined approach, we believe that we can expand both the size and scope of operations to create long-term stability and continued growth.
Leading Through Prosperity and Adversity
Our track record of successful accomplishments, perseverance and execution have transformed the company into a well-positioned independent oil and gas producer focused on profitability and sustainable growth. At Camber Energy, our proven leadership has the experience and know-how to capitalize on current market conditions and grow both organically and through acquisitions.