Callan JMB unit to buy 50% stake in North Dakota, Montana oil and gas assets for $12.5 million cash
CJMB•Closing conditions and timing
Closing is targeted on or before Sept. 30, 2026, subject to due diligence, financing, regulatory clearances and other customary conditions.
The buyer can walk away if financing fails, due diligence disappoints, a material adverse change occurs, or approvals are not obtained.
Purchase price and escrow terms
The cash purchase price is set at $12.5 million, payable at closing.
The buyer will place $1 million in escrow at closing to cover drilling and completion costs incurred before closing.
Agreement to acquire 50% interest in oil and gas assets
Callan JMB entered an agreement to buy a 50% interest in oil and gas leases and wells in North Dakota and Montana.
