Equus Subsidiary, Morgan E&P, Secures $3 Million Term Loan to Advance Drilling and Work-Over Program in North Dakota's Williston Basin
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) ha annunciato che la sua controllata, Morgan E&P, ha ottenuto una linea di credito a termine da 3 milioni di dollari per finanziare le operazioni di perforazione e i lavori di riavvio nel bacino di Williston, nel North Dakota. Il capitale sarà utilizzato per accelerare lo sviluppo di due pozzi esistenti attualmente non produttivi nella formazione Bakken Shale.
Il programma punta ad aumentare i volumi di produzione e a migliorare il flusso di cassa a partire dalla seconda metà del 2025. La società intende concentrarsi sui nuovi completamenti di pozzi e sull'ottimizzazione degli asset produttivi esistenti, sia su appezzamenti operati che non operati.
Equus Total Return (NYSE:EQS) anunció que su subsidiaria, Morgan E&P, ha asegurado una línea de préstamo a plazo de 3 millones de dólares para financiar operaciones de perforación y trabajos de recompletado en la cuenca de Williston, en Dakota del Norte. El capital se utilizará para acelerar el desarrollo de dos pozos existentes que actualmente no producen en la formación Bakken Shale.
El programa tiene como objetivo aumentar los volúmenes de producción y mejorar el flujo de caja a partir de la segunda mitad de 2025. La compañía planea centrarse en nuevas terminaciones de pozos y en la optimización de activos productores existentes, tanto en áreas operadas como no operadas.
Equus Total Return (NYSE:EQS)는 자회사 Morgan E&P가 노스다코타 윌리스턴 분지에서의 시추 및 복구(워크오버) 작업 자금을 위해 300만 달러 규모의 기간 대출 시설을 확보했다고 발표했습니다. 이 자금은 배컨 셰일(Bakken Shale)층에 있는 현재 비생산 상태의 기존 유정 두 곳의 개발을 가속화하는 데 사용될 예정입니다.
이 프로그램은 2025년 하반기부터 생산량을 늘리고 현금 흐름을 개선하는 것을 목표로 합니다. 회사는 신규 유정 완공과 운영 중인 자산뿐 아니라 비운영 지분의 기존 생산 자산 최적화에 주력할 계획입니다.
Equus Total Return (NYSE:EQS) a annoncé que sa filiale, Morgan E&P, a obtenu une facilité de prêt à terme de 3 millions de dollars pour financer des opérations de forage et de remise en production dans le bassin de Williston, dans le Dakota du Nord. Les fonds seront utilisés pour accélérer le développement de deux puits existants non producteurs dans la formation Bakken Shale.
Le programme vise à augmenter les volumes de production et à améliorer les flux de trésorerie à partir du second semestre 2025. La société prévoit de se concentrer sur les nouvelles complétions de puits et l'optimisation des actifs producteurs existants, tant sur des surfaces exploitées que non exploitées.
Equus Total Return (NYSE:EQS) gab bekannt, dass seine Tochtergesellschaft Morgan E&P eine Term-Loan-Fazilität über 3 Millionen US-Dollar gesichert hat, um Bohr- und Überholungsarbeiten (Work-Over) im Williston-Becken in North Dakota zu finanzieren. Das Kapital soll genutzt werden, um die Entwicklung von zwei bestehenden, derzeit nicht fördernden Bohrlöchern in der Bakken-Shale-Formation zu beschleunigen.
Das Programm zielt darauf ab, die Fördermengen zu erhöhen und den Cashflow ab der zweiten Hälfte des Jahres 2025 zu verbessern. Das Unternehmen plant, sich auf neue Bohrabschlussarbeiten und die Optimierung bestehender fördernder Anlagen in sowohl betriebenen als auch nicht betriebenen Liegenschaften zu konzentrieren.
- None.
- Additional debt burden through new term loan
- Currently owns non-producing wells requiring capital investment
- Execution risk in well reactivation and completion program
HOUSTON, Aug. 14, 2025 (GLOBE NEWSWIRE) -- Equus Total Return, Inc. (NYSE: EQS) (“Equus” or the “Company”) today announced that its wholly-owned subsidiary, Morgan E&P, LLC (“Morgan”), has successfully closed on a
The capital is expected to enable Morgan to accelerate targeted development opportunities in its operated and non-operated acreage, focusing on both new well completions and the optimization of existing producing assets. This program is further expected to increase production volumes and enhance cash flow commencing in the second half of 2025.
“We are pleased to complete this funding as a first step to advance Morgan’s operational program in one of North America’s most prolific oil-producing basins,” said John Hardy, Chief Executive Officer of Equus. “I’d like to thank Mike Reger, who recently joined the Morgan team, and was instrumental in securing this financing. We can now quickly develop our acreage position and return certain wells to production, creating immediate value for our shareholders.”
The Bakken Shale, located primarily in North Dakota and Montana, is recognized for its high-quality crude oil production and long-lived reserves. Morgan E&P’s planned activities are expected to strengthen its presence in the basin and contribute to Equus’ broader energy portfolio strategy.
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.
Contact:
Equus Total Return, Inc.
1-888-323-4533
FAQ
What is the size of the term loan secured by Equus (NYSE:EQS) subsidiary Morgan E&P?
How will Equus (NYSE:EQS) use the $3 million loan proceeds?
When does Equus (NYSE:EQS) expect to see increased production from the Morgan E&P operations?
Where are the Morgan E&P wells located?
Who helped secure the financing for Morgan E&P?
