Callan JMB’s Callan Power to Acquire Reger Oil Assets in The Williston Basin; Northern Oil and Gas Former CEO and Founder Michael Reger Named President of Callan Power and Board Member
Callan JMB's subsidiary Callan Power entered a definitive agreement to acquire oil and gas assets from Reger Oil to develop a 23-well drilling program in the Williston Basin. Former Northern Oil and Gas CEO Michael Reger will join Callan JMB's board and lead Callan Power as part of the transaction.
Key figures
- Wells planned
- 23
- Working interest
- 75%
- Assumed oil price
- $75 per barrel
- Estimated ultimate recovery
- 7.3 million gross barrels
- Projected cumulative cash flow
- $252 million
- Projected annual cash flow 2028
- $25 million
- Projected annual cash flow 2029
- $42 million
AI analysis
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