secwatch.observer — SEC 8-K summary
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Issuer:     EQUUS TOTAL RETURN, INC. (EQS)
CIK:        0000878932
Form:       8-K
Filed at:   2023-05-25T23:59:59+00:00
Accession:  0001712543-23-000036
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 2.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Equus subsidiary Morgan E&P acquires 4,748 net acres in Bakken, commits to drill 6 wells within 18 months
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- Acquired 4,747.52 net acres in Bakken/Three Forks formation, Williston Basin, North Dakota.
- Payment of $500,000 plus obligation to drill minimum 6 horizontal wells within 18 months of permits (avg cost ~$8M/well).
- Morgan receives average net revenue interest of 80% in production from drilled wells.
- CG&A reserve analysis: PV10 values for proved undeveloped $6.4M, probable $14.8M, possible $37.6M; 48 gross / 15 net drilling locations.
- Estimated ultimate recovery per well: ~811,475 barrels of oil equivalent.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/878932/000171254323000036/0001712543-23-000036-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/878932/000171254323000036/f8k_equus05222023.htm
  HTML page:      https://secwatch.observer/filing/0001712543-23-000036

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer