Camber Energy Inc CEI shares are trading higher by 13.33% to $2.72 Tuesday morning after the company announced it signed an agreement to acquire oil companies with roughly $55 million in annual gross revenues.
Camber Energy says the oil companies being acquired own interests in certain oil and gas properties and related equipment and other tangible personal property, including working interests in approximately 169 proved producing oil wells producing approx. 2,000 barrels of oil per day (net), 174 proved non-producing wells and 12 proved undeveloped well locations.
See Also: Tesla Extends Operations At Reduced Capacity In Shanghai Giga Plant
According to data from Benzinga Pro, CEI has a 52-week high of $99.00 and a 52-week low of $2.34.
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.