Last $0.40 USD
Change Today +0.0225 / 5.92%
Volume 530.8K
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As of 8:04 PM 12/26/14 All times are local (Market data is delayed by at least 15 minutes).

camac energy inc (CAK) Snapshot

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03/18/14 - $0.91
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12/10/14 - $0.28
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camac energy inc (CAK) Details

CAMAC Energy operates as an independent oil and gas exploration and production company focused on energy resources in Africa. Its asset portfolio consists of 9 licenses covering an area of 43,000 square kilometers, including existing production and other exploration projects offshore Nigeria; and exploration licenses offshore Ghana, Kenya, and Gambia, as well as onshore Kenya. The company was formerly known as Pacific Asia Petroleum, Inc. and changed its name to CAMAC Energy, Inc. in April 2010. The company was founded in 2005 and is headquartered in Houston, Texas. CAMAC Energy, Inc. is a subsidiary of CAMAC Energy Holdings Limited.

47 Employees
Last Reported Date: 03/14/14
Founded in 2005

camac energy inc (CAK) Top Compensated Officers

Founder, Executive Chairman, Chief Executive ...
Total Annual Compensation: --
Chief Financial Officer and Senior Vice Presi...
Total Annual Compensation: $387.1K
Senior Vice President of Exploration & Produc...
Total Annual Compensation: $486.8K
Senior Vice President, General Counsel and Se...
Total Annual Compensation: $462.8K
Chief Administrative Officer and Senior Vice ...
Total Annual Compensation: $291.7K
Compensation as of Fiscal Year 2013.

camac energy inc (CAK) Key Developments

CAMAC Energy Inc. Signs Contract with a Subsidiary of Transocean Ltd

CAMAC Energy Inc. announced that it has signed a contract with a subsidiary of Transocean Ltd. for the provision of the semi-submersible drilling unit Sedco Express for drilling and completion activities offshore Nigeria. The contract allows for the drilling or completion of up to three wells, and CAMAC intends to use the rig to accelerate timing of the tie-in of production from the Oyo-7 and Oyo-8 development wells. With the ability to drill a third well, and an option to extend the contract, the Company is also considering using the rig to accelerate its 2015 exploration drilling program. The Sedco Express is an ultra deepwater, semi-submersible drilling rig built in 2000, and is already within close proximity of the Oyo Field in OML 120. The Company's other rig, the drillship Energy Searcher, will continue the plugging and abandonment operations on the Oyo-5 and Oyo-6 wells.

CAMAC Energy, Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014; Announces Production Results for the Third Quarter Ended September 30, 2014

CAMAC Energy, Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company has posted oil and gas revenue of $19,010,000 against $21,723,000 a year ago. Operating loss was $41,546,000 against $10,401,000 a year ago. Loss before income tax was $42,223,000 against $10,417,000 a year ago. Net loss was $42,223,000 or $0.03 basic and diluted per share against $10,417,000 or $0.03 basic and diluted per share a year ago. For the nine months, the company has posted oil and gas revenue of $53,844,000 against $63,736,000 a year ago. Operating loss was $67,500,000 against $32,809,000 a year ago. Loss before income tax was $69,011,000 against $32,835,000 a year ago. Net loss was $69,011,000 or $0.07 basic and diluted per share against $32,835,000 or $0.09 basic and diluted per share a year ago. Net cash used in operating activities was $33,099,000 against $12,958,000 a year ago. Capital expenditures were $59,481,000 against $590,000 a year ago. For the third quarter of 2014, average net daily production of approximately 800 barrels of oil, net of royalties. Revenue on a per barrel basis was $100.85. For 2015, the company expected CapEx around $50 million in cash and $50 million hedging on the debt.

CAMAC Energy, Inc. to Report Q3, 2014 Results on Nov 10, 2014

CAMAC Energy, Inc. announced that they will report Q3, 2014 results on Nov 10, 2014


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