Callan JMB Retains Northern Oil and Gas Founder Michael Reger as President of Callan Power; Northern Oil and Gas Now Valued at Approximately $2.9 Billion
Rhea-AI Summary
Callan JMB (NASDAQ:CJMB) will appoint Northern Oil and Gas founder Michael Reger as President of its new wholly owned subsidiary, Callan Power, effective upon closing of Callan JMB’s previously announced acquisition of assets from Reger Oil. Callan Power will focus on oil and gas development, energy resilience, grid reliability, and domestic manufacturing of transformers and other critical electrical equipment.
Reger, who helped lead Northern Oil and Gas through a $650 million recapitalization and about $850 million in acquisitions while growing production above 40,000 BOE/d, will receive no cash salary and be compensated in equity. Callan Power plans headquarters at the Atlas Complex in Marion, Alabama, with additional manufacturing in Brewton, and aims to support U.S. electrical-infrastructure needs across utilities, data centers, AI, and other energy-intensive sectors.
Positive
- Leadership with large-cap energy experience via Michael Reger’s role in NOG’s $650M recapitalization and ~$850M acquisitions
- Equity-based compensation for Callan Power’s president aligns management incentives with Callan JMB shareholders
- Strategic expansion into domestic transformer and critical electrical equipment manufacturing in Alabama
Negative
- None.
Market reaction after President appointment: CJMB -3.21%
Following this news, CJMB has declined 3.21%, reflecting a moderate negative market reaction. Argus tracked a trough of -4.3% from its starting point during tracking. Our momentum scanner has triggered 12 alerts so far, indicating notable trading interest and price volatility. The stock is currently trading at $2.41. Trading volume is exceptionally heavy at 6.6x the average, suggesting significant selling pressure.
Data tracked by StockTitan Argus (15 min delayed). Upgrade to Gold for real-time data.
Key Figures
Historical Context
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Aug 20 | Acquisition announcement | Positive | -5.4% | Acquisition and appointment announcement preceded a negative 5.42% 24-hour price reaction. |
| Aug 17 | Listing compliance | Positive | +11.8% | Nasdaq minimum-bid compliance announcement preceded an 11.81% 24-hour gain in CJMB shares. |
| Aug 11 | Manufacturing venture | Positive | -2.5% | Advanced electrical manufacturing joint venture announcement preceded a 2.54% 24-hour decline. |
| Aug 10 | Service completion | Positive | +25.5% | Chicago emergency-preparedness support completion preceded a 25.48% 24-hour gain. |
| Aug 06 | Subsidiary formation | Positive | +27.7% | Callan Power formation announcement preceded a 27.69% 24-hour gain. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Positive announcements aligned with gains in three of five comparable events, while two diverged; the latest acquisition announcement preceded a -5.42% reaction.
Key Terms
recapitalization financial
barrels of oil equivalent per day technical
power-system simulation technical
mobile substations technical
AI-generated analysis. How Rhea-AI works. Not financial advice.
Mr. Reger brings proven public-company, capital-markets, and energy-sector leadership to advance Callan Power’s domestic manufacturing and critical electrical-infrastructure strategy
SPRING BRANCH, Texas, Aug. 24, 2026 (GLOBE NEWSWIRE) -- Callan JMB Inc. (NASDAQ: CJMB) (“Callan JMB” or the “Company”), a diversified company focused on logistics, emergency preparedness and critical infrastructure, confirms that, effective upon the closing of its previously announced acquisition of assets from Reger Oil, Inc, Michael Reger will serve as President of Callan Power LLC, the Company’s new wholly owned subsidiary focused on development of oil and gas resources, energy resilience, grid reliability and the domestic manufacturing of transformers and other critical electrical equipment.
Reger founded Northern Oil and Gas, Inc. (“NOG”) in 2006 and helped build the company from inception into a publicly traded energy business before departing in 2019 and assuming the role of Chairman Emeritus thereafter. During Northern’s 2018–2019 recapitalization and turnaround, Reger played an instrumental role in completing a
In his new role, Reger will lead the development and execution of Callan Power’s business strategy, including its planned Alabama manufacturing operations, commercial relationships, strategic partnerships, and long-term growth initiatives, and will oversee the development of the Company’s oil and gas assets. His appointment brings extensive energy-sector, transaction, and public-company leadership to Callan Power as the subsidiary moves from formation toward commercial development.
Consistent with his longstanding approach to public-company leadership, Reger will receive no cash salary for his service as President of Callan Power and will be compensated through equity, directly aligning his interests with those of Callan JMB shareholders.
Callan Power plans to establish its corporate headquarters at the Atlas Complex in Marion, Alabama, with additional manufacturing operations planned for an Alabama State University-owned facility in Brewton. In addition to developing its oil and gas assets, the subsidiary intends to use advanced automation, vertically integrated production, in-house testing, and power-system simulation to support domestic production of transformers and other critical electrical infrastructure.
“Michael has a demonstrated ability to identify opportunities, build businesses and navigate complex energy and capital markets,” said Wayne Williams, President and CEO of Callan JMB. “He built Northern Oil and Gas from its earliest stages into a publicly traded energy company and brings the combination of operating experience, transaction expertise and industry relationships we believe Callan Power needs as we move from strategy to execution. We are building Callan Power to address a significant need for domestic energy production and electrical infrastructure, and Michael gives us an experienced energy executive to lead that effort and pursue the commercial opportunities ahead.”
“America’s growing demand for reliable power is creating an urgent need for additional electrical infrastructure and stronger domestic supply chains,” said Michael Reger, President of Callan Power. “Callan Power has the opportunity to address that need by combining advanced American manufacturing with Callan JMB’s established capabilities in logistics, infrastructure, preparedness, and critical supply-chain management. I look forward to working with Wayne and the Callan JMB team to build the relationships, operating capabilities, and commercial strategy required to position Callan Power for long-term growth.”
Callan Power is being developed to support upstream oil and gas production and help address equipment shortages, extended procurement timelines, and dependence on foreign supply chains for critical electrical components. Its planned products and capabilities are expected to include power and distribution transformers, pad-mounted and dry-type transformers, specialized transformers for renewable-energy applications, mobile substations, battery energy-storage systems, advanced power cables, and power-system engineering, testing, and simulation.
Demand for electrical infrastructure continues to expand across electric utilities, data centers, artificial intelligence infrastructure, advanced manufacturing, grid-modernization projects, and other energy-intensive sectors. In addition to oil and gas exploration and development, under Reger’s leadership, Callan Power will also focus on developing its manufacturing operations, establishing commercial and strategic relationships, evaluating growth opportunities, and building a disciplined path toward production and revenue generation.
Callan Power also builds on more than 15 years of power-management experience gained through Coldchain Technology Services LLC, another wholly owned subsidiary of Callan JMB. Since 2009, Coldchain has managed fixed, hardened, and mobile power-generation assets supporting healthcare organizations, government agencies, and other critical operations during emergencies and planned continuity events.
By combining that operational foundation with Reger’s energy-sector leadership, Callan JMB intends to build the upstream oil and gas exploration and consolidation business, expand its capabilities into domestic manufacturing of essential electrical equipment, and pursue opportunities tied to rising electricity demand, grid modernization, and the need for more resilient American supply chains.
About Michael Reger
Michael Reger is the CEO of Reger Oil and the founder and Chairman Emeritus of Northern Oil and Gas, Inc. (“NOG”). During his leadership of Northern, he helped establish and expand the public, non-operated upstream business model and guided the company through significant capital formation, acquisitions, and production growth. Reger is a multigenerational energy-industry executive with extensive experience in asset development, corporate strategy, transactions, and public-company leadership. He holds a Bachelor of Arts in Finance and an MBA in Management from the University of St. Thomas.
About Callan Power LLC
Callan Power LLC is a wholly owned subsidiary of Callan JMB Inc. focused on energy resilience, grid reliability, and the domestic manufacturing of transformers and other critical electrical equipment. Building on Callan JMB’s experience managing fixed and mobile power assets, Callan Power intends to support electric power companies, critical infrastructure operators, and other organizations that require reliable access to essential power-system equipment and capabilities. (www.callanjmb.com/callan-power)
About Callan JMB Inc.
Callan JMB Inc. (NASDAQ: CJMB) is an integrated logistics and infrastructure services company supporting the healthcare industry, emergency management agencies, and other organizations responsible for maintaining essential operations. The Company provides fulfillment, specialty packaging, warehousing, cold-chain logistics, monitoring, regulatory compliance, inventory management, and emergency preparedness and response services. Through its expanding operations, Callan JMB applies its experience in critical supply chains, infrastructure, and continuity planning to areas of strategic national importance. (www.callanjmb.com)
Investor Contact
Valter Pinto, Managing Director
KCSA Strategic Communications
CallanJMB@kcsa.com
212.896.1254
Media Contact
Arian Hopkins
ahopkins@callanjmb.com
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of applicable federal securities laws. Forward-looking statements include, but are not limited to, statements regarding Callan Power’s leadership and business strategy; planned headquarters and manufacturing operations; anticipated products, services and manufacturing capabilities; commercial relationships and strategic partnerships; domestic production and supply-chain objectives; expected customers and market opportunities; development and production timelines; and Callan JMB’s strategic and growth objectives.
Forward-looking statements may be identified by words such as “anticipate,” “believe,” “expect,” “intend,” “may,” “plan,” “project,” “should,” “will” and similar expressions. These statements are based on current expectations and are subject to risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed or implied. There can be no assurance that planned manufacturing operations will be established as contemplated, that anticipated products or capabilities will be successfully developed, that commercial relationships will be established, or that expected operational and financial benefits will be realized.
Additional information concerning risks and uncertainties affecting Callan JMB is contained in the Company’s filings with the U.S. Securities and Exchange Commission, available at www.sec.gov. The Company undertakes no obligation to update any forward-looking statement except as required by law.
1 Michael Reger founded Northern Oil and Gas and led its transformation from a private company to a publicly traded corporation; Northern Oil and Gas is now valued at ~
