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 $45.9 million as of March 31, 2024, down from $48.3 million at the end of 2023. The net asset value (NAV) per share decreased to $3.38 from $3.55 over the same period. Morgan E&P, a subsidiary, acquired 5,897.52 net leasehold acres in North Dakota's Bakken/Three Forks formation and began production on two wells. However, Morgan's debt increased by $2.2 million, and its fair value dropped by $1.35 million to $21.25 million due to various factors. The company also incurred operating expenses mainly from professional fees and insurance.
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