Callan JMB unit to acquire 50% stake in Pfanenstiel oil & gas assets for $12.5M

CALLAN JMB INC.

Callan Power LLC, a Callan JMB subsidiary, signed Asset Purchase Agreement with The Pfanenstiel Company, LLC on Aug 26, 2026.
Purchase price: $12.5M cash plus $1M escrow for drilling/completion costs; closing expected by Sept 30, 2026.
Assets: 50% interest in oil and gas leases and wells in North Dakota and Montana; certain wellbores excluded.
Closing conditions include financing, due diligence, and regulatory approvals; either party may terminate if not closed by outside date.

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