Callan Power to Acquire Williston Basin Non-Operated Oil and Gas Assets with $48 Million Proved PV-10 and $83 Million 3P PV-10 from The Pfanenstiel Company, Significantly Expanding Energy Assets

The acquisition covers interests in 377 producing wells and adds ~150 BOE/day of current net production, plus 27 wells in process. The deal is underpinned by $48 million of proved PV-10 and an illustrative 21% unlevered cash return using $75 WTI (per the terms stated). Overall, the reported cash-return profile and incremental production contribution are modestly positive for the buyer’s fundamentals.