Camber Energy Reports Revenues Post VKIN Merger; Revenues Reported By Camber For The 9-Month Period Ended 9/30/2023 Were ~$24.4M, As Compared To Revenues Of ~$466K YoY
Portfolio Pulse from Benzinga Newsdesk
Camber Energy, Inc. (CEI) reported significant revenue growth for the 9-month period ended September 30, 2023, post its merger with Viking Energy Group, Inc. Revenues increased to approximately $24.4 million from $466 thousand in the same period last year. The company's stockholders' equity also improved, turning from a $33 million deficit to a $29.2 million positive position. Camber's CEO, James Doris, expressed optimism about the company's future growth and profitability in the energy sector.
November 14, 2023 | 1:58 pm
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Camber Energy's revenues soared to $24.4M for the 9-month period ended 9/30/2023 following the merger with Viking Energy, with stockholders' equity also improving significantly.
The substantial increase in revenue and the positive shift in stockholders' equity are strong indicators of Camber Energy's improved financial health post-merger. This is likely to be viewed positively by investors and could lead to a short-term increase in stock price.
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