Benzinga | Nov 22, 2021 01:34PM EST

Why Camber Energy Shares Are Rising

Camber Energy, Inc. (NYSE:CEI) shares are trading higher after the company announced it received a letter from the NYSE American in response to the company's request for an extension of the date by which the company is to file outstanding financial reports.

Receipt of the letter does not have any immediate effect on the listing of the company's shares on the Exchange, except that until the company regains compliance with the Exchange's listing standards, a "BC" indicator will be affixed to the company's trading symbol.

Camber Energy, Inc., an independent oil and natural gas company, engages in the acquisition, development, and sale of crude oil, natural gas, and natural gas liquids in the Cline shale and upper Wolfberry shale in Glasscock County, Texas.

Camber Energy shares were trading about 20% higher at $1.46 per share on Monday at the time of publication. The stock has a 52-week high of $4.85 and a 52-week low of $0.33.