Equus Total Return, Inc. completed the acquisition of 150 producing and non-producing oil and gas wells in Texas and Oklahoma from Warren American Oil Company, LLC.
January 06, 2013
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Equus Total Return, Inc. (NYSE:EQS) entered into an agreement to acquire 150 producing and non-producing oil and gas wells in Texas and Oklahoma from Warren American Oil Company, LLC for $6.6 million on December 27, 2012. 150 producing and non-producing oil and gas wells in Texas and Oklahoma will be renamed Equus Energy, LLC and will act as a platform for additional energy-related investments. Joel N. Ephross, P.C. of Duane Morris LLP acted as legal advisor for Equus Total Return.
Equus Total Return, Inc. (NYSE:EQS) completed the acquisition of 150 producing and non-producing oil and gas wells in Texas and Oklahoma from Warren American Oil Company, LLC on January 7, 2013.
EQUUS Total Return, Inc. (the Fund) is a closed-end management investment company. Its investment objective is to maximize the total return to the Company's stockholders in the form of current investment income and long-term capital gains by investing in the debt and equity securities of small and middle market capitalization companies that are generally not publicly traded at the time of its investment. It seeks to invest in companies pursuing growth through acquisition or organically, leveraged buyouts, management buyouts and recapitalizations of existing businesses or special situations. Its income-producing investments consist of debt securities, including bonds, subordinated debt, debt convertible into common or preferred stock, or debt combined with warrants and common and preferred stock. It invests in the portfolio company, Equus Energy, LLC, which makes investments in companies in the energy sector, with particular emphasis on income-producing oil and gas properties.
Equus Total Return, Inc. completed the acquisition of 150 producing and non-producing oil and gas wells in Texas and Oklahoma from Warren American Oil Company, LLC.