Camber Energy (CEI) Stock Heads Up On Project Update

Camber Energy CEI Stock News

Camber Energy Inc (NYSEAMERICAN: CEI) is seeing slight gains in the market this morning. The stock is trading in the green after announcing that its subsidiary is nearing completion a key project. Here’s what’s happening:

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CEI Announces Project Completion

In a press release issued this morning, Camber Energy said that its subsidiary, Lineal Industries, is close to completing a natural gas line. The line will transport treated waste methane from a solid waste landfill into a consumer gas dystribution system.

In a statement, Tim Connolly CEO at the CEI subsididary, Linial Star Holding, LLC, had the following to offer:

We are proud of our role in safely and efficiently completing this unique project, directing waste gas to green gas and other productive consumer uses. When our industry needs a specialty construction team with the depth of experience to plan unusual work and reliably execute that plan, they think of Lineal. After all, we have a 64-year history of safely meeting our client’s unique objectives and completing challenging projects on budget and on time.

Why This News Is Exciting

As with any construction project, those that provide the work don’t generally see payment in full until the completion of the project. Once Lineal Star completes the project, it will generate meaningful revenue for the comapny. However, that’s not the only reason that this news is exciting.

CEI recently acquired Lineal Star Holdings, a company that has been in the pipeline services industry for more than 3 decades! However, any time an acquisition is announced, investors want to see quick turnaround in terms of that acquisition generating revenue. That’s exactly what we’re seeing here.

With today’s announcement, CEI is proving that the acquisition of Lineal Star Holdings was a smart move that will likely pay dividends in the long run!

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