Callan JMB to buy Reger Oil Williston Basin assets for $12 million mix of preferred stock and cash

Reuters2026/08/24 10:15

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Callan JMB entered an APA to buy Reger Oil assets in the Williston Basin, covering leases and related oil and gas properties.
Purchase price totals USD 12 million, paid with 1,000 Series A Perpetual Convertible Preferred shares valued at USD 10 million.
Deal also includes USD 2 million cash, due on or before Dec. 31, 2026.
Closing targeted on or before Sept. 22, 2026, subject to diligence and Nasdaq-required stockholder approval for the preferred issuance.
Governance changes include appointing Michael Reger as buyer president, renaming the unit, and adding a preferred-holder nominee to the board.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Callan JMB Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001493152-26-039761), on August 24, 2026, and is solely responsible for the information contained therein.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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Callan JMB to buy Reger Oil Williston Basin assets for $12 million mix of preferred stock and cash

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