Why Camber Energy Shares Are Rising

Camber Energy Inc CEI shares are trading higher after the company announced it received a loan to redeem its series C preferred stock.

James Doris, President and Chief Executive Officer of Camber, commented, "I believe the financing terms are the most favorable terms the company has been able to negotiate in its history. The proposed transaction demonstrates the lender's confidence in our team and overall growth strategy, and if we are successful at the upcoming special meeting the company will be in a great position to pursue new acquisitions and other important initiatives our team has identified."

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Camber Energy is active in the oil and gas market. The company is engaged in the acquisition and development of crude oil and natural gas from various known productive geological formations. The company operates exclusively in the onshore United States oil and natural gas industry. Its sales are made on a month-to-month basis, and title transfer occurs when the oil is loaded onto the purchaser's truck.

Camber Energy has a 52-week high of $4.85 and a 52-week low of $0.33.