Equus Subsidiary Morgan E&P Provides Update on Reserves
Equus Total Return, Inc. (EQS)
US:NYSE Investor Relations:
equuscap.com/investor.htm
Company Research
Source: GlobeNewswire
HOUSTON, Feb. 14, 2024 (GLOBE NEWSWIRE) -- Equus Total Return, Inc. (NYSE: EQS) ("Equus") today announced that its wholly-owned subsidiary Morgan E&P, LLC ("Morgan"), has received from Cawley, Gillespie & Associates, Inc. (“CG&A”) an updated reserve estimate as of January 1, 2024. Morgan continues to acquire mineral rights in the Bakken/Three Forks formation in the Williston Basin of North Dakota, and on December 18, 2023, announced an increase in its acreage in this area from 4,747.52 net acres to 5,976.84 net acres, an increase of 1,229.32 net acres, or approximately 25.9%. Morgan engaged the petroleum engineering firm of CG&A to review and provide an updated reserve analysis of this asset using the December 29, 2023 NYMEX strip pricing. Using a discount rate of 10% (PV10 Valuation) the values of proved, probable, and possible reserves associated with the project are $31,986,856, $13,898,074, and $62,025,104, respectively. The most notable change in the reserve
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EQS
Sec Filings
- 4/3/24 - Form 8-K
- 4/2/24 - Form NT
- 4/2/24 - Form 10-K
- EQS's page on the SEC website