Equus Subsidiary, Morgan E&P, Secures $3 Million Term Loan to Advance Drilling and Work-Over Program in North Dakota's Williston Basin

HOUSTON, Aug. 14, 2025 (GLOBE NEWSWIRE) -- Equus Total Return, Inc. (NYSE:EQS) ("Equus" or the "Company") today announced that its wholly-owned subsidiary, Morgan E&P, LLC ("Morgan"), has successfully closed on a $3 million term loan facility. The proceeds will be used to fund near-term drilling and work-over operations in the Bakken Shale formation of North Dakota's Williston Basin on two existing, but non-producing wells owned by Morgan.

The capital is expected to enable Morgan to accelerate targeted development opportunities in its operated and non-operated acreage, focusing on both new well completions and the optimization of existing producing assets. This program is further expected to increase production volumes and enhance cash flow commencing in the second half of 2025.

"We are pleased to complete this funding as a first step to advance Morgan's operational program in one of North America's ...