Oil and gas stocks are booming temporarily as the hype caused by investors through pouring funds and watching them thoroughly. However, today’s update on the merger of Camber Energy (CEI) with Viking Energy is providing doubts about the possibility of closing the deal. Suddenly, Sanchez Midstream Partners (SNMP) rockets more than 100% on over 125 million shares. The flat moving stock a day ago had been giving no hope to the traders. Now it seems to grow higher than $1.
Sanchez is actually doing a great job by serving as a midstream of gas and oil supply. Therefore, merging with Camber Energy (CEI) could be a wise move if Viking Energy is not a viable option. Possible joint efforts could lift both Camber and Sanchez stocks along with revenue.
Right now SNMP is surging 110% but CEI is losing 27%. Tomorrow, the scenario could be different but the oil and gas industry will never fade even if all the energy firms shift to renewable sources.
Finance and Entertainment Reporter
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