Welcome to our dedicated page for Equus Total Return news (Ticker: EQS), a resource for investors and traders seeking the latest updates and insights on Equus Total Return stock.
Equus Total Return, Inc. (NYSE: EQS) is a business development company that trades as a closed-end fund and regularly issues news releases about its net asset value and portfolio developments. The Equus news flow provides detail on how changes in the fair value of its investments affect its net assets and net asset value per share.
Recent Equus announcements have focused on quarterly net asset value updates, highlighting movements in the fair value of key holdings such as Morgan E&P, LLC and General Enterprise Ventures, Inc. These releases explain how factors like changes in oil price curves, production levels, acreage acquisitions, and the trading price of portfolio company shares influence the valuation of Equus’s investments. The company also reports on financing activities, including convertible promissory notes and common stock purchase warrants, and how related accounting treatments, such as reclassifying warrants as liabilities, affect net assets.
In addition to valuation updates, Equus news items describe operational and strategic developments at its subsidiaries and portfolio companies. Examples include Morgan E&P securing a term loan facility to fund drilling and work-over operations in the Bakken Shale of North Dakota’s Williston Basin, and engaging an energy consultant to lead its asset strategy in the Bakken and Three Forks formations. Equus has also reported the sale of Equus Energy, LLC to North American Energy Opportunities Corp., detailing the mix of cash and preferred stock consideration.
Corporate and regulatory updates are another recurring theme in Equus news. The company has announced board appointments, committee assignments, and receipt of a notice of non-compliance with a New York Stock Exchange share price rule, along with its intention to regain compliance. For investors and observers, the EQS news page offers a consolidated view of these valuation, portfolio, financing, governance, and listing-related developments.
Equus Total Return (NYSE: EQS) reported net assets of $26.5 million as of September 30, 2025, and NAV per share of $1.90, down from $2.51 at June 30, 2025.
Key drivers: a $5.4 million fair-value decline in holdings purchased from General Enterprise Ventures (conversion of a $1.5M note into 664,041 GEVI shares and an outstanding GEVI warrant), and a $1.7 million liability recorded after reclassifying investor warrants. The Company’s equity investment in Morgan E&P remained unchanged at $12.35 million.
Equus Total Return (NYSE:EQS) reported Q2 2025 net assets of $34.1 million, with net asset value per share slightly decreasing to $2.51 from $2.52 in Q1 2025. The company's portfolio experienced significant changes in two main holdings:
The company's investment in General Enterprise Ventures (GEVI) saw substantial appreciation, with the collective value of its convertible note and warrant reaching $10.6 million as GEVI's share price increased from $1.20 to $1.95.
However, Morgan E&P's fair value decreased by $1.65 million to $12.35 million due to declining oil price forecasts. Post-quarter, Morgan secured a $3 million loan facility for drilling operations and hired strategic consultant Michael Reger to optimize Bakken/Three Forks assets.
Equus Total Return (NYSE:EQS) announced that its subsidiary, Morgan E&P, has secured a $3 million term loan facility to fund drilling and work-over operations in North Dakota's Williston Basin. The capital will be used to accelerate development of two existing non-producing wells in the Bakken Shale formation.
The program aims to increase production volumes and enhance cash flow starting in the second half of 2025. The company plans to focus on new well completions and optimization of existing producing assets in both operated and non-operated acreage.
Equus Total Return (NYSE:EQS) announced that its subsidiary Morgan E&P has secured a strategic consulting agreement with Michael Reger and Reger Oil, LLC. Reger, who will receive Equus shares as compensation, will spearhead Morgan's asset strategy in the Bakken and Three Forks formations across North Dakota and Montana.
Reger brings significant expertise as the founder and former CEO of Northern Oil and Gas, where he led a $650 million recapitalization and orchestrated $850 million in acquisitions. His appointment aims to optimize value and develop long-term potential in the Williston Basin, leveraging his third-generation experience as a Williston Basin Landman.
Equus Total Return (NYSE: EQS) has received a notice of non-compliance from the NYSE on May 15, 2025, due to its average closing stock price falling below $1.00 over a consecutive 30-day trading period. The company has a six-month cure period to regain compliance by achieving a closing price and 30-day average closing price of at least $1.00. To address this issue, Equus plans to consider various alternatives, including a potential reverse stock split, which will be proposed at the upcoming annual stockholder meeting on June 26, 2025. The notice does not immediately affect the company's NYSE listing or trading status, and Equus will continue its normal business operations and SEC reporting requirements.
Equus Total Return (NYSE: EQS) reported a decline in net assets to $29.5 million as of December 31, 2024, with net asset value per share decreasing to $2.17 from $2.96 in the previous quarter.
The company experienced significant portfolio value changes in Q4 2024:
- Morgan E&P's fair value decreased by $6.0 million to $13.0 million due to declining oil price curves and reclassification of proved reserves
- Equus Energy's fair value dropped by $4.0 million to $4.0 million
Subsequent events in early 2025 included:
- Issuance of a $2.0 million convertible note at 10% interest with 2 million warrants
- $1.5 million investment in GEVI convertible note
- Sale of Equus Energy to NAEOC for $1.25 million cash plus $2.75 million in redeemable preferred shares
Equus Total Return (NYSE: EQS) has announced two key board appointments. Fraser Atkinson has been appointed as the Fund's independent Chairman of the Board while continuing his roles as Chair of the Audit Committee and member of both Compensation and Governance and Nominating Committees.
John J. May, a Chartered Accountant with over 50 years of experience in the UK, has been appointed as an independent director. May is currently Managing Partner of City & Westminster Corporate Finance LLP and brings extensive experience as a director of public and private companies, particularly in mining, energy, and oil and gas sectors. He will serve on the Fund's Audit, Compensation, and Governance and Nominating Committees.
Equus Total Return (NYSE: EQS) reported net assets of $40.2 million as of September 30, 2024, with net asset value per share decreasing to $2.96 from $3.66 in the previous quarter. The decline was primarily due to decreased fair values of two major holdings: Morgan E&P decreased by $7.0 million to $19.0 million, affected by a 17.6% drop in oil prices and declining production from two wells. Equus Energy decreased by $2.0 million to $8.0 million, also due to lower oil prices. These valuations were supported by a third-party valuation firm.
Equus Total Return, Inc. (NYSE: EQS) has reported its net assets as of June 30, 2024, at $49.8 million. The company's net asset value per share increased to $3.66 from $3.38 as of March 31, 2024. This growth was primarily driven by the performance of its wholly-owned subsidiary, Morgan E&P, . Morgan acquired an additional 810 net acres in the Bakken/Three Forks formation, expanding its total acreage to approximately 6,707 net acres. This acquisition led to an increase in Morgan's proved reserves and future drilling sites. Consequently, the fair value of Morgan's equity was recorded at $26.0 million, representing a $4.75 million increase from the previous quarter.
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