Callan JMB Designates Andy Weigman to Join Callan Power's Oil and Gas Development Efforts; Weigman Brings Experience on More Than $1 Billion in Sourced Acquisition Opportunities and Extensive Williston Basin Operational Expertise
Rhea-AI Summary
Callan JMB (Nasdaq: CJMB) announced that its subsidiary Callan Power will designate Andy Weigman as Senior Vice President of Land and Acquisitions upon closing the previously announced asset acquisition from Reger Oil. Weigman will oversee Callan Power’s oil and gas land, operations, and acquisition functions.
Weigman brings 14 years of Williston Basin experience, including nine years at Northern Oil and Gas, where he worked with Callan Power President Mike Reger and helped build NOG into a large publicly traded non-operated E&P company. According to Callan JMB, he has sourced more than $1 billion in potential acquisition opportunities across over 900 wells.
The company reiterated its plan to build a disciplined, scalable non-operated working interest platform in the Williston Basin of North Dakota and Montana, participating in wells operated by others in exchange for a proportionate share of capital, production, and cash flow while avoiding field operations.
Positive
- Experienced SVP hire with 14 years in the Williston Basin and nine at Northern Oil and Gas
- More than $1 billion in sourced potential acquisition opportunities across over 900 wells attributed to Andy Weigman
- Strategic focus on building a scalable non-operated Williston Basin acquisition platform rather than a one-off transaction
Negative
- None.
Market reaction after Land acquisitions leadership change: CJMB -4.19%
Following this news, CJMB has declined 4.19%, reflecting a moderate negative market reaction. Our momentum scanner has triggered 6 alerts so far, indicating moderate trading interest and price volatility. The stock is currently trading at $2.17.
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Key Figures
Historical Context
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Aug 24 | Management appointment | Positive | -8.8% | Northern Oil and Gas founder Michael Reger retained as Callan Power president |
| Aug 20 | Asset acquisition | Positive | -5.4% | Callan Power agreed to acquire Williston Basin assets from Reger Oil |
| Aug 17 | Nasdaq compliance | Positive | +11.8% | Company regained compliance with Nasdaq's minimum bid price requirement |
| Aug 11 | Manufacturing joint venture | Positive | -2.5% | Company announced a $60 million advanced electrical manufacturing venture |
| Aug 10 | Services completion | Positive | +25.5% | Company completed emergency preparedness support during Chicago's Lollapalooza weekend |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
The five selected historical events were mostly positive announcements, with 3 divergences and 2 alignments in 24-hour price reactions.
Key Terms
non-operated working interest technical
non-operator technical
exploration and production technical
AI-generated analysis. How Rhea-AI works. Not financial advice.
Weigman brings 14 years of Williston Basin experience, including nine years at Northern Oil and Gas, and has sourced potential acquisition opportunities across more than 900 wells
The appointment will reunite Weigman with Callan Power President Mike Reger, with whom he worked for nearly a decade at Northern Oil and Gas
SPRING BRANCH, Texas, Aug. 25, 2026 (GLOBE NEWSWIRE) -- Callan JMB, Inc. (Nasdaq: CJMB) (“Callan JMB” or the “Company”), a diversified company focused on logistics, emergency preparedness, and critical infrastructure, today announced that Callan Power will designate Andy Weigman as Senior Vice President of Land and Acquisitions upon closing of the previously announced asset acquisition from Reger Oil, Inc. Mr. Weigman will be responsible for Callan Power’s s oil and gas land, operations, and acquisition functions.
Mr. Weigman spent nine years at Northern Oil and Gas, Inc. (“NOG”), starting in 2012 as an early team member. He worked alongside Mike Reger, who founded NOG in 2006 and led the company through 2019. Together, they helped build NOG into the largest publicly traded non-operated exploration and production company in the United States. At Callan JMB, Mr. Weigman will help build the Company’s non-operated oil and gas well portfolio, using skills and connections that he and Mr. Reger developed together at NOG.
The retention of Mr. Weigman follows the Company’s previously announced agreement to acquire a diversified non-operated working interest position in the Williston Basin of North Dakota and Montana. It reflects the Company’s intent to build a durable, repeatable non-operated acquisition platform rather than a single transaction.
Building Callan Power’s Non-Operated Platform
The non-operated working interest model allows a company to participate in wells drilled and operated by others — acquiring small interests across a large number of wells. The Company will contribute its proportionate share of capital in each well and will receive its proportionate share of production and cash flow. As a non-operator, the Company will forgo the management and expense of field operations. Only expenses directly related to the wells can be billed to the Company. Executed at scale, the model produces diversification across operators, geology, and timing that a concentrated operated position cannot.
“I have worked with Andy for close to a decade, and there is no one better to help build this business,” said Mike Reger, President, Callan Power. “The non-operated model is not complicated, but it is very important to source, acquire, and manage acquisitions with the highest returns. Andy knows how to source, evaluate, and close new acquisitions. He knows the Williston Basin, its deal makers, and non-op asset management, as well as anyone in the business. Bringing him in to lead this effort is the clearest signal we can send about how seriously we intend to build here.”
“I have spent my career in the Williston Basin and believe strongly in the opportunity to build a scaled, disciplined non-operated platform in one of North America’s most established energy-producing regions,” said Andy Weigman. “Callan Power has the strategy, leadership, and commitment needed to execute that vision. I am excited to work alongside Mike Reger again and apply my experience sourcing, evaluating, and managing acquisitions to build a high-quality portfolio positioned for sustainable growth and long-term shareholder value.”
"Andy's retention is another important milestone in the development of Callan Power," said Wayne Williams, Chief Executive Officer of Callan JMB. "His proven ability to source and evaluate more than
About Andy Weigman
Andy Weigman brings more than 14 years of Williston Basin land, operations, and acquisition experience. He spent nine years at NOG, most recently as an Asset Manager, where he managed assets, sourced acquisitions, and led acquisition due diligence. After NOG, he co-founded two non-operated oil and gas investment funds, where he served as Chief Operating Officer and sourced over
About Callan Power
Callan Power is Callan JMB’s wholly owned energy subsidiary, focused on energy development, resilience, and critical electrical infrastructure. Its oil and gas strategy centers on building a disciplined portfolio of non-operated interests in the Williston Basin through a repeatable acquisition model designed to provide diversified exposure across operators, wells and development timing. Callan Power is also pursuing the domestic manufacturing of transformers and other critical electrical equipment to support grid reliability and strengthen U.S. energy infrastructure. By combining experienced leadership, rigorous land and acquisition capabilities, and a scalable operating structure, Callan Power is advancing Callan JMB’s broader expansion across the energy sector.
About Callan JMB, Inc.
Callan JMB Inc. (NASDAQ: CJMB) is a diversified logistics, preparedness, and critical-infrastructure company supporting healthcare organizations, government agencies, and commercial partners. The Company provides fulfillment, warehousing, cold-chain logistics, monitoring, regulatory compliance, and emergency-preparedness services designed to protect critical products, strengthen supply chains, and support continuity of operations. Through its portfolio of businesses, strategic partnerships, and acquisitions, Callan JMB is building a broader platform spanning healthcare and pharmaceutical logistics, domestic manufacturing, critical-infrastructure services, and energy development. For more information, visit callanjmb.com.
Investor Contact
Valter Pinto, Managing Director
KCSA Strategic Communications
CallanJMB@kcsa.com
212.896.1254
Media Relations
Arian Hopkins
ahopkins@callanjmb.com
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, without limitation, statements regarding the Company’s strategy, plans and objectives; the establishment, scope and expected performance of Callan Power and the Company’s non-operated Bakken division; the anticipated contributions of Weigman; the Company’s ability to source, evaluate and complete future acquisitions; and the expected closing of the Company’s previously announced Williston Basin acquisition. These statements are based on management’s current expectations and assumptions and are subject to known and unknown risks and uncertainties that could cause actual results to differ materially.
Such risks include, without limitation: the Company’s limited operating history in the oil and gas industry and the risks of entering a new line of business; the Company’s ability to attract and retain qualified personnel; the failure to complete the previously announced acquisition or to identify and complete additional acquisitions on acceptable terms; volatility in commodity prices; the Company’s status as a non-operator, under which it does not control the timing, cost or manner of drilling, completion or operations; the Company’s ability to obtain financing and bonding on acceptable terms or at all; and the other risk factors described in the Company’s filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K and subsequent periodic reports. Any forward-looking statement speaks only as of the date on which it is made, and the Company undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law.
