CALLAN JMB INC. O.N.

Callan JMB, through its subsidiary Callan Power LLC, acquires non‑operated interests from The Pfanenstiel Company for $12.5m in cash. The transaction includes 377 producing wells (about 150 barrels of oil equivalent/day), 27 wells in development and roughly 3,000 net acres; proved net reserves amount to about 4.3 million barrels of oil equivalent (approx. 79% crude oil). An independent reserves report shows a PV-10 of $48.1m (proved) and $82.7m (proved, probable and possible); at WTI $75, Callan expects an annualized operating net cash flow of around $2.5m. Closing is expected before October 1, 2026; Michael Reger will be president of Callan Power. » Más en de.investing.com

Callan JMB said that Callan Power, after acquiring assets from Reger Oil, has named Andy Weigman senior vice president of land and acquisitions. Weigman will oversee land, operations and acquisitions in the oil and gas sector and brings 14 years of experience in the Williston Basin, with prior roles at Northern Oil and Gas and as a co‑founder of investment funds. Callan JMB plans to build an acquisition platform for non‑operating working interests in the Williston Basin to hold stakes across many wells rather than pursuing individual transactions. » Más en de.investing.com

Callan JMB appointed Michael Reger as president of its subsidiary Callan Power; the appointment takes effect upon completion of the acquisition of Reger Oil's assets. Callan Power will establish a headquarters in Marion, Alabama and operate production facilities in Brewton to manufacture transformers, battery energy storage and other electrical infrastructure components in vertically integrated, automated production. Reger, founder and former CEO of Northern Oil and Gas, will receive no cash compensation but will be paid solely in company shares and is to oversee business strategy and the development of the oil and gas facilities. » Más en de.investing.com