Camber Energy, Inc. (NYSE American:CEI) completed the acquisition of 75% working interest in 500 net leasehold acres in Hutchinson County, Texas.
March 13, 2018
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Camber Energy, Inc. (NYSE American:CEI) entered into a letter of intent to acquire 500 net leasehold acres in Hutchinson County, Texas for $0.25 million on March 5, 2018. In the event the transaction closes, Camber Energy will acquire approximately 500 net leasehold acres in Hutchinson County, Texas, including 49 non-producing well bores. The acquisition also includes 5 saltwater disposal wells and the required infrastructure and equipment necessary to support future hydrocarbon production. The closing of the transaction is subject to customary closing conditions.
Camber Energy, Inc. (NYSE American:CEI) completed the acquisition of 75% working interest in 500 net leasehold acres in Hutchinson County, Texas on March 14, 2018. The seller will retain 25% working interest. At closing, $0.085 million was paid in cash, $0.085 million will be paid thirty days after closing and the remaining $0.08 million will be paid sixty days after closing.
Camber Energy, Inc. is a diversified energy company. Through its wholly owned subsidiary, Viking Energy Group, Inc., the Company provides custom energy and power solutions to commercial and industrial clients in North America, holds a license in Canada to a patented carbon-capture system, and has a majority interest in an entity with intellectual property rights to a fully developed, patented, ready-for-market proprietary Medical & Bio-Hazard Waste Treatment system using Ozone Technology; and entities with the intellectual property rights to fully developed, patent pending, ready-for-market proprietary Electric Transmission and Distribution Open Conductor Detection Systems. It is also exploring other renewable energy-related opportunities and/or technologies. It owns leasehold interests in properties produced from the Cline and Wolfberry formations in Texas. It also provides combined heat and power (CHP), tier 4 final diesel and natural gas industrial engines, solar, wind and storage.
CAMBER ENERGY, INC. 
