secwatch.observer — SEC 8-K summary
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Issuer:     EQUUS TOTAL RETURN, INC. (EQS)
CIK:        0000878932
Form:       8-K
Filed at:   2024-02-22T23:59:59+00:00
Accession:  0001712543-24-000002
Event type: other_material
Sentiment:  positive
Materiality: 0.75
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Equus subsidiary Morgan E&P completes two Bakken wells; proved reserves PV10 up 135%
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- Morgan E&P completed two horizontal wells (Baranko 1-28H and Obrigewitch 1-33H) producing >1,000 bbl/d combined.
- Sold 37% working interest in the two wells to Bakken Partners I, LLC for $5.6M; proceeds reduce Morgan's capex.
- Proved reserves PV10 value increased 135% to $31.99M, driven by conversion of possible to proved developed producing.
- Acreage in Bakken/Three Forks increased 25.9% to 5,976.84 net acres; net drilling locations up from 15 to 18.
- Management expects initial IP 30 rate by end of Q1 2024; Cawley Gillespie estimates EUR of ~814,000 boe per well.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/878932/000171254324000002/0001712543-24-000002-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/878932/000171254324000002/f8k_equus02132024.htm
  HTML page:      https://secwatch.observer/filing/0001712543-24-000002

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