Camber Energy, Inc. (Camber) is a growth-oriented diversified energy company.
Through the company’s majority-owned subsidiaries, the company provides custom energy and power solutions to commercial and industrial clients in North America. The company has a majority interest in: (i) an entity with intellectual property rights to a fully developed, patented, proprietary Medical and Bio-Hazard Waste Treatment system using Ozone Technology; and (ii) entities with the intellectual property rights to...
Camber Energy, Inc. (Camber) is a growth-oriented diversified energy company.
Through the company’s majority-owned subsidiaries, the company provides custom energy and power solutions to commercial and industrial clients in North America. The company has a majority interest in: (i) an entity with intellectual property rights to a fully developed, patented, proprietary Medical and Bio-Hazard Waste Treatment system using Ozone Technology; and (ii) entities with the intellectual property rights to fully developed, patented and patent pending, proprietary Electric Transmission and Distribution Open Conductor Detection Systems. Also, the company holds a license to a patented clean energy and carbon-capture system with exclusivity in Canada and for multiple locations in the United States. Various of the company’s other subsidiaries own interests in oil properties in the United States. The company is also exploring other renewable energy-related opportunities and/or technologies, which are generating revenue, or have a reasonable prospect of generating revenue within a reasonable period of time.
Segments
The company has two reportable segments: Oil and Gas Production and Power Generation.
The Power Generation segment provides custom energy and power solutions to commercial and industrial clients in North America.
The Oil and Gas segment is involved in exploration and production with properties in central and southern United States.
Custom Energy and Power Solutions
Simson-Maxwell Acquisition
On August 6, 2021, Viking acquired approximately 60.5% of the issued and outstanding shares of Simson-Maxwell Ltd. (‘Simson-Maxwell’), a Canadian federal corporation. Simson-Maxwell manufactures and supplies power generation products, services and custom energy solutions. Simson-Maxwell provides commercial and industrial clients with efficient, flexible, environmentally responsible and clean-tech energy systems involving a wide variety of products, including CHP (combined heat and power), tier 4 final diesel and natural gas industrial engines, solar, wind and storage. Simson-Maxwell also designs and assembles a complete line of electrical control equipment, including switch gear, synchronization and paralleling gear, distribution, Bi-Fuel and complete power generation production controls. Simson-Maxwell’s seven branches assist with servicing a large number of existing maintenance arrangements and meeting the energy and power-solution demands of the company’s other customers.
Clean Energy and Carbon-Capture System
In August 2021, Viking entered into a license agreement with ESG Clean Energy, LLC (‘ESG’), to utilize ESG’s patent rights and know-how related to stationary electric power generation and heat and carbon dioxide capture (the ‘ESG Clean Energy System’). The intellectual property licensed by Viking includes certain patents and/or patent applications, including: (i) U.S. Patent No.: 10,774,733, File date: October 24, 2018, Issue date: September 15, 2020, Titled: ‘Bottoming Cycle Power System’; (ii) U.S. Patent No.: 17/661,382, Issue date: August 8, 2023, Titled: ‘Systems and Methods Associated With Bottoming Cycle Power Systems for Generating Power, Capturing Carbon Dioxide and Producing Products’; (iii) U.S. Patent No.: 11624307, Issue date: April 22, 2023, Titled: ‘Systems and Methods Associated With Bottoming Cycle Power Systems for Generating Power and Capturing Carbon Dioxide’ (iv) European (validated in the United Kingdom, France and Germany) Patent No.: EP3728891, Issue date: April 12, 2023, Titled: ‘Bottoming Cycle Power System’; (v) U.S. Patent Application No.: 17/224,200, File date: April 7, 2021, Titled: ‘Bottoming Cycle Power System’ (which was subsequently approved by the U.S. Patent & Trademark Office in March, 2022 (No. 11,286,832); (vi) U.S. Patent Application No.: 17/358,197, File date: June 25, 2021, Titled: ‘Bottoming Cycle Power System’; (vii) U.S. Patent Application No.: 17/448,943, File date: September 27, 2021, Titled: ‘Systems and Methods Associated With Bottoming Cycle Power Systems for Generating Power and Capturing Carbon Dioxide’; and (viii) U.S. Patent Application No.: 17/448,938, File date: September 27, 2021, Titled: ‘Systems and Methods Associated With Bottoming Cycle Power Systems for Generating Power, Capturing Carbon Dioxide and Producing Products.
The ESG Clean Energy System is designed to, among other things, generate clean electricity from internal combustion engines and utilize waste heat to capture approximately 100% of the carbon dioxide (CO2) emitted from the engine without loss of efficiency, and in a manner to facilitate the production of certain commodities. Patent No. 11,286,832, for example, covers the invention of an ‘exhaust-gas-to-exhaust-gas heat exchanger’ that efficiently cools – and then reheats – exhaust from a primary power generator so greater energy output can be achieved by a secondary power source with safe ventilation. Another key aspect of this patent is the development of a carbon dioxide capture system that utilizes the waste heat of the carbon dioxide pump to heat and regenerate the adsorber that enables carbon dioxide to be safely contained and packaged.
The company intends to sell, lease and/or sub-license the ESG Clean Energy System to third parties using, among other things, Simson-Maxwell’s existing distribution channels. The company may also utilize the ESG Clean Energy System for its own account, whether in connection with its petroleum operations, Simson-Maxwell’s power generation operations, or otherwise.
Medical Waste Disposal System Using Ozone Technology
In January 2022, Viking acquired a 51% interest in Viking Ozone Technology, LLC (‘Viking Ozone’), which owns the intellectual property rights to a patented (i.e., US Utility Patent No. 11,565,289), proprietary medical and biohazard waste treatment system using ozone technology. Simson-Maxwell has been designated the exclusive worldwide manufacturer and vendor of this system. The technology is designed to be a sustainable alternative to incineration, chemical, autoclave and heat treatment of bio-hazardous waste, and for the treated waste to be classified as renewable fuel for waste-to-energy (‘WTE’) facilities in many locations around the world.
Open Conductor Detection Technologies
In February 2022, Viking acquired a 51% interest in two entities, Viking Sentinel Technology, LLC (‘Viking Sentinel’) and Viking Protection Systems, LLC (‘Viking Protection’), that own the intellectual property rights to patented (i.e. U.S. utility patent 11,769,998 titled ‘ Electric Transmission Line Ground Fault Prevention Systems Using Dual, High Sensitivity Monitoring Devices’) and patent pending (i.e., US Applications 16/974,086, and 17/693,504), proprietary electric transmission and distribution open conductor detection systems. The systems are designed to detect a break in a transmission line, distribution line, or coupling failure, and to immediately terminate the power to the line before it reaches the ground. The technology is intended to increase public safety and reduce the risk of causing an incendiary event, and to be an integral component within grid hardening and stability initiatives by electric utilities to improve the resiliency and reliability of existing infrastructure.
Oil and Gas Properties
Existing Assets
As of December 31, 2023, the company owns leasehold interests (working interests) in properties producing from the Cline and Wolfberry formations in Texas.
Divestitures in 2023
On November 5, 2023, Mid-Con Petroleum, LLC and Mid-Con Drilling, LLC, wholly owned subsidiaries of Viking, sold 100% of their interest in oil and gas assets in Kansas, consisting of 168 producing wells, 90 injector wells and 34 non-producing wells. On December 1, 2023, a subsidiary of Petrodome Energy, LLC (‘Petrodome’), a wholly owned subsidiary of Viking, sold its non-operated working interest in a producing oil well in Texas.
Properties
Through Simson-Maxwell, the company has 7 locations in Western Canada, consisting of (i) Port Coquitlam, British Columbia; (ii) Edmonton, Alberta; (iii) Calgary, Alberta; (iv) Nanaimo, British Columbia; (v) Prince George, British Columbia; (vi) Fort St. John, British Columbia; and (vii) Terrace, British Columbia.
Oil and Natural Gas Properties
As of December 31, 2023, all of the company’s proved oil and natural gas reserves were located in the United States, in the state of Texas.
Regulation
The company’s domestic activities are subject to a variety of environmental laws and regulations, including but not limited to, the Oil Pollution Act of 1990 (‘OPA’), the Clean Water Act (‘CWA’), the Comprehensive Environmental Response, Compensation and Liability Act (‘CERCLA’), the Resource Conservation and Recovery Act (‘RCRA’), the Clean Air Act (‘CAA’), and the Safe Drinking Water Act (‘SDWA’), as well as state regulations promulgated under comparable state statutes.
The company follows applicable legal requirements for groundwater protection in its operations that are subject to supervision by state and federal regulators (including the Bureau of Land Management (‘BLM’) on federal acreage).
History
The company was formerly known as SinoCubate, Inc. and changed its name to Viking Investments Group, Inc. in 2012. Further, the company changed its name to Viking Energy Group, Inc. in 2017 and then to Camber Energy, Inc. in 2023.
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