Equus Subsidiary, Morgan E&P, Bolsters Position in Bakken with Expanded Acreage and Reserves

HOUSTON, Dec. 18, 2023 (GLOBE NEWSWIRE) -- The investment landscape in the energy sector has seen a significant development as Equus Total Return, Inc. EQS ('Equus'), discloses a robust expansion strategy by its wholly-owned subsidiary, Morgan E&P, LLC ('Morgan'). Striving to consolidate its presence in the prolific Bakken/Three Forks formation within North Dakota's Williston Basin, Morgan E&P is in the process of broadening its portfolio through the acquisition of additional mineral rights, thereby increasing its net acreage and reserves in this strategically vital location.

Strategic Expansion in the Williston Basin

Equus, through Morgan E&P, has been proactively engaged in acquiring and managing mineral rights, which has lately culminated in an enhanced acreage footprint in the region. This strategic acquisition not only boosts the operating reserves but also solidifies Morgan's standing in the Bakken shale play, renowned for its rich hydrocarbon resources. The Williston Basin has been a hotspot for energy investments, and with this move, EQS aims to leverage the growing demand for energy resources while maintaining an edge in a competitive market.

Strengthening Energy Reserves

Amidst a global pursuit for energy stability and resource optimization, Morgan E&P's latest endeavor signals a positive outcome for Equus shareholders. By elevating its reserve base, Morgan E&P is setting the stage for potentially augmented production volumes, revenue growth, and an increased valuation of these assets. The investment in the Bakken formation underscores Morgan's commitment to capitalize on the advancements in extraction technology and the rising energy needs, positioning EQS to potentially benefit from the anticipated sectoral growth.

Houston, Equus, MorganEP