Equus Subsidiary, Morgan E&P, Engages Michael Reger to Lead Operations in the Williston Basin
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) ha annunciato che la sua controllata Morgan E&P ha ottenuto un accordo di consulenza strategica con Michael Reger e Reger Oil, LLC. Reger, che riceverà azioni Equus come compenso, guiderà la strategia patrimoniale di Morgan nelle formazioni Bakken e Three Forks in North Dakota e Montana.
Reger porta con sé una notevole esperienza come fondatore ed ex CEO di Northern Oil and Gas, dove ha gestito una ricapitalizzazione da 650 milioni di dollari e orchestrato acquisizioni per 850 milioni di dollari. La sua nomina mira a ottimizzare il valore e sviluppare il potenziale a lungo termine nel Bacino di Williston, sfruttando la sua esperienza di terza generazione come esperto terriero del Bacino di Williston.
Equus Total Return (NYSE:EQS) anunció que su subsidiaria Morgan E&P ha asegurado un acuerdo de consultoría estratégica con Michael Reger y Reger Oil, LLC. Reger, quien recibirá acciones de Equus como compensación, liderará la estrategia de activos de Morgan en las formaciones Bakken y Three Forks en Dakota del Norte y Montana.
Reger aporta una amplia experiencia como fundador y ex CEO de Northern Oil and Gas, donde lideró una recapitalización de 650 millones de dólares y orquestó adquisiciones por 850 millones de dólares. Su nombramiento tiene como objetivo optimizar el valor y desarrollar el potencial a largo plazo en la Cuenca de Williston, aprovechando su experiencia de tercera generación como especialista en tierras de la Cuenca de Williston.
Equus Total Return (NYSE:EQS)는 자회사 Morgan E&P가 Michael Reger 및 Reger Oil, LLC와 전략적 컨설팅 계약을 체결했다고 발표했습니다. Reger는 보상으로 Equus 주식을 받으며 노스다코타와 몬태나에 걸친 Bakken 및 Three Forks 지층에서 Morgan의 자산 전략을 이끌 예정입니다.
Reger는 Northern Oil and Gas의 창립자이자 전 CEO로서 6억 5천만 달러 규모의 자본 재조정을 주도하고 8억 5천만 달러 규모의 인수를 기획하는 등 풍부한 경험을 보유하고 있습니다. 그의 임명은 Williston 분지에서 장기적인 잠재력 개발과 가치 최적화를 목표로 하며, Williston 분지 지주로서 3세대의 경험을 활용할 것입니다.
Equus Total Return (NYSE:EQS) a annoncé que sa filiale Morgan E&P a conclu un accord de conseil stratégique avec Michael Reger et Reger Oil, LLC. Reger, qui recevra des actions Equus en rémunération, dirigera la stratégie d'actifs de Morgan dans les formations Bakken et Three Forks à travers le Dakota du Nord et le Montana.
Reger apporte une expertise significative en tant que fondateur et ancien PDG de Northern Oil and Gas, où il a piloté une recapitalisation de 650 millions de dollars et orchestré des acquisitions pour 850 millions de dollars. Sa nomination vise à optimiser la valeur et développer le potentiel à long terme dans le bassin de Williston, en tirant parti de son expérience de troisième génération en tant que spécialiste foncier du bassin de Williston.
Equus Total Return (NYSE:EQS) gab bekannt, dass seine Tochtergesellschaft Morgan E&P einen strategischen Beratungsvertrag mit Michael Reger und Reger Oil, LLC abgeschlossen hat. Reger, der als Vergütung Aktien von Equus erhalten wird, wird die Vermögensstrategie von Morgan in den Bakken- und Three Forks-Formationen in North Dakota und Montana leiten.
Reger bringt umfangreiche Erfahrung als Gründer und ehemaliger CEO von Northern Oil and Gas mit, wo er eine Kapitalerhöhung von 650 Millionen US-Dollar leitete und Akquisitionen im Wert von 850 Millionen US-Dollar orchestrierte. Seine Ernennung zielt darauf ab, den Wert zu optimieren und das langfristige Potenzial im Williston-Becken zu entwickeln, wobei er auf seine Erfahrung als Landman der dritten Generation im Williston-Becken zurückgreift.
- Strategic acquisition of expertise through Michael Reger, a proven industry veteran
- Equity-based compensation structure aligns consultant's interests with shareholders
- Expansion into prolific Bakken and Three Forks formations with significant potential
- Access to Reger's extensive network and proven track record in major transactions
- Potential share dilution from equity-based compensation structure
Insights
Equus brings in experienced Williston Basin veteran Michael Reger to lead subsidiary's energy operations, signaling strategic expansion with aligned incentives.
Equus Total Return's subsidiary Morgan E&P has made a strategic move by engaging Michael Reger, a proven Williston Basin expert, to spearhead their operations in the resource-rich Bakken and Three Forks formations. The arrangement includes a notable equity-based compensation structure, with Reger opting for Equus shares rather than cash - a strong indication of his confidence in the company's future prospects.
Reger's credentials are particularly relevant for this role. As the founder and former CEO of Northern Oil and Gas, he demonstrated exceptional operational knowledge of the Williston Basin. His leadership was instrumental in Northern's
The timing of this appointment is significant amid current energy market dynamics. The Bakken formation remains one of North America's most productive oil plays, though it requires specialized expertise to navigate effectively. Reger's third-generation Williston Basin background provides Morgan with precisely that expertise, potentially enabling them to identify undervalued assets or optimization opportunities that might elude competitors.
This appointment likely signals a shift toward more active development of Equus's energy portfolio through its Morgan subsidiary. The equity-based compensation structure creates strong alignment between Reger's incentives and shareholder interests, while his proven ability to identify and execute substantial acquisitions suggests Morgan may be preparing for expansion in the Williston Basin.
HOUSTON, Aug. 06, 2025 (GLOBE NEWSWIRE) -- Equus Total Return, Inc. (NYSE: EQS) ("Equus") today announced that its wholly-owned subsidiary Morgan E&P, LLC ("Morgan"), has entered into a consulting agreement with Michael Reger and Reger Oil, LLC, a leading energy consultancy. Mr. Reger has elected to receive Equus shares in lieu of cash compensation.
Pursuant to the agreement, Mr. Reger will lead Morgan’s asset strategy across the prolific Bakken and Three Forks formations in North Dakota and Montana, targeting value optimization and long-term development potential.
“We are pleased to have Mike join us at this pivotal time for energy markets,” said John Hardy, CEO of Morgan. “He has a deep-rooted knowledge of the Williston Basin Bakken and Three Forks plays. This, combined with his extensive network and a proven ability to identify and maximize upstream opportunities, makes him an invaluable strategic partner.”
Mr. Reger will work closely with the Morgan executive team to assess, structure, and implement new oil and gas investment initiatives, leveraging proprietary industry insights and a disciplined asset development framework.
In 2006 Mr. Reger founded Northern Oil and Gas, Inc. (“Northern”) and served as the Company’s CEO and Chairman until August 2016. Mr. Reger returned to Northern as Chairman Emeritus in 2017 and was named Advisor to the Board in January 2018. Mr. Reger was instrumental in a
Mr. Reger is a third generation Williston Basin Landman from Billings, Montana. Mr. Reger holds a Bachelor of Arts in Finance and an MBA in Management from the University of St. Thomas in St. Paul, Minnesota.
About Reger Oil, LLC
Reger Oil, LLC (www.regeroil.com) is an independent exploration and development company focused on acquiring, developing and managing oil and gas assets in the Williston Basin of North Dakota and Montana.
About Morgan E&P, LLC
Morgan E&P, LLC (www.morganep.com) is an upstream exploration and production company focused on the development of oil and gas assets throughout North America. Morgan is a wholly-owned subsidiary of Equus.
About Equus
Equus Total Return, Inc. is a business development company that trades as a closed-end fund on the New York Stock Exchange under the symbol "EQS". Additional information on the Company may be obtained from the Company's website at www.equuscap.com.
Forward-Looking Statements
This press release may contain certain forward-looking statements regarding future circumstances. These forward-looking statements are based upon Equus’ current expectations and assumptions and are subject to various risks and uncertainties that could cause actual results to differ materially from those contemplated in such forward-looking statements including, in particular, the risks and uncertainties described in Equus’ filings with the SEC. Actual results, events, and performance may differ. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as to the date hereof. Equus undertakes no obligation to release publicly any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. The inclusion of any statement in this release does not constitute an admission by Equus or any other person that the events or circumstances described in such statements are material.
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