If you’ve been following Camber Energy Inc. recently, there’s a good chance you’ve noticed things haven’t been going smoothly. The Texas-based energy player, once traded on NYSE American, took a big reputational hit when it got delisted in August 2024. While it’s not totally shutting down, the company now faces a serious mix of financial headaches, lost investor confidence, and legal drama. A lot of investors and regular folks are left wondering if Camber Energy is going out of business—or if it’s just wobbling through a rough patch.
Let’s break down what’s actually going on at Camber Energy, how bad the numbers really are, and if this is a company on its last legs, or just scraping through uncertain times.
Where the Trouble Started: Stock Market Delisting
Camber Energy’s first shock came when it was kicked off the NYSE American stock exchange in August 2024. The main reason was simple: the stock price had dropped too low to meet listing requirements, staying under the minimum level for too long. Stock exchanges like NYSE American have clear rules, and falling below the line is a red flag for financial health.
Getting delisted means you can’t buy or sell Camber shares on regular, big-time exchanges. Now, if you want to trade Camber, you have to use the OTC (over-the-counter) markets. Think of OTC as a bit like the minor leagues for stocks—a place where troubled or small companies land when they can’t keep up with the demands of bigger exchanges.
For ordinary investors, OTC trading means less transparency and more risk. Prices can be jumpy, and information about the company isn’t as easy to come by. Usually, a company lands here because it’s facing big-time trouble. That’s exactly the case with Camber.
How Bad Are the Losses?
Financially, Camber Energy is bleeding money—and not by a little. For the nine months ending September 30, 2024, Camber reported a net loss of $64.9 million. That’s a huge jump from around $10.8 million the year before. Losses like this get noticed fast by analysts, investors, and sometimes even regulators.
If you’re wondering why things got so much worse, a big part has to do with something called “goodwill impairment.” Goodwill is an accounting term for how much extra you pay when you buy another company—basically, how much more over the actual assets. After merging with Viking Energy Group, Camber realized the purchase wasn’t worth as much as they’d hoped, and they had to write off a big chunk of that value.
But the higher losses didn’t just come from that. It’s also down to rising costs, more debt, and other liabilities. The bottom line is: Camber isn’t making nearly enough money to cover what it’s spending.
The Debt Pile Just Keeps Growing
Every company borrows money now and then, but when the debts keep piling up, it’s a sign of trouble. Camber Energy is showing exactly that. As of the last report, the company had a stockholders’ deficit of over $32 million. That basically means the company owes more than its assets are worth—never a good look.
On top of this, Camber lists nearly $40 million in long-term debt. For a company of its size and earnings, this is a dangerous number. You can compare this to someone who owes more in loans than the value of everything they own—the house, car, savings, you name it.
High debt also makes it tough for a company to borrow more in the future. Lenders get nervous, and they might ask for higher interest rates or even refuse more credit. If the company’s income doesn’t improve, paying down these debts becomes harder every year.
A Costly Merger and Goodwill Write-Off
The merger with Viking Energy Group in 2023 was supposed to help Camber Energy build a bigger, stronger energy business. But in the end, the expected benefits didn’t pan out. In accounting terms, Camber had to write off all the “goodwill”—about $49 million—linked to the merger after reassessing how much value the company actually got.
Writing off goodwill isn’t the same as spending cash, but it’s still a black mark on the books. It means the deal didn’t create the hoped-for extra earnings or company value, and now Camber has to admit that loss to investors and regulators.
Many companies hope mergers will create new revenue or save costs, but sometimes they do the opposite. In this case, it’s been more pain than gain for Camber. It also rattles investor confidence when a business admits that an expensive merger hasn’t worked out.
Trying to Steer Back: Restructuring and Operations
Even with these setbacks, Camber isn’t packing up or shutting the doors. The management keeps running daily operations and has started making deals to restructure debt. Recently, Camber struck an agreement with an investor to convert at least $1.2 million of its old, unpaid debt into a new convertible note.
The convertible note lets the lender swap the debt for equity (shares of company stock) later on, which is a way for distressed companies to manage what they owe. It buys time, but it’s usually a sign that cash is tight—and if the stock price falls further, lenders get more shares, which dilutes existing shareholders.
Camber has also been looking to cut costs and try to make its day-to-day business profitable. But getting from here to profitability, with debts this size, is a tall order.
Legal Distractions: What Happened with Lawsuits?
There’s one legal drama Camber Energy has managed to put behind it. Earlier, a group of investors filed a class action lawsuit claiming Camber’s leaders breached their duties during the Viking merger. These kinds of lawsuits can drag on, often costing money and time even if there’s no wrongdoing.
But in March 2025, the lawsuit was dismissed “with prejudice”—legal speak for “this isn’t coming back.” No appeal was filed. That’s at least one less problem facing the company, which is good news for management’s focus, though it doesn’t fix any financial issues.
Still, lawsuits—even dismissed ones—often shake investor faith. When legal trouble overlaps with financial loss and delisting, the road to recovery gets even longer.
What’s Next? Can Camber Energy Survive This?
Right now, Camber Energy is still operating and hasn’t filed for bankruptcy. There’s no formal sign it’s going out of business, and there aren’t any legal filings that point to a shutdown or dissolution. But saying the company is “not out of business” isn’t the same as saying things are looking good.
Camber is under huge financial pressure from continued losses, big debts, and a shrinking share price. Shareholders need to be realistic: if losses keep up and debts grow, the company might need to issue more shares (diluting the value for existing holders), sell off assets, or in a worst-case scenario, file for bankruptcy down the line.
Energy is a tough industry, and plenty of similar companies have fallen into bankruptcy or dissolved after losing access to easy credit and investor trust. For now, Camber is hanging on, but the safety nets are getting thin.
On the bright side, the recent debt restructuring, the end of some legal headaches, and ongoing operations all point to a company that’s still fighting. Sometimes, companies in similar spots pull off a turnaround. Sometimes, they get new funding or manage to cut costs enough to buy time. Other times, things spiral and the business winds down. There’s no perfect predictor here.
If you’re an investor, a supplier, or just someone who follows smaller U.S. energy companies, it’s smart to stay tuned for quarterly updates and any big changes to Camber’s debt or ownership. You can keep an eye on outlets like serabusiness.com for up-to-date news and balanced analysis as things change.
No one at Camber is talking about closing shop right now, but the mountain the company needs to climb is obvious. If they can pay down debt, cut losses, and find new sources of income, they might find a way to survive. If not, tougher choices are probably ahead.
For now, Camber Energy is not formally out of business, but it’s in a fragile spot that’s worth watching. Whether you’re looking at it as an investor or just a curious observer, you can probably expect more bumps—and possibly, more big decisions—over the coming year.