Equus Announces Second Quarter Net Asset Value
16 Agosto 2021 - 6:23PM
Equus Total Return, Inc. (NYSE: EQS)
(“Equus” or the “Company”) reports net assets as of June 30, 2021,
of $34.7 million, an increase of approximately $0.6 million since
March 31, 2021. Net asset value per share increased to $2.57 as of
June 30, 2021 from $2.52 as of March 31, 2021. Comparative data is
summarized below (in thousands, except per share
amounts):
As of the Quarter Ended |
6/30/2021 |
3/31/2021 |
12/31/2020 |
9/30/2020 |
6/30/2020 |
Net assets |
$ |
34,724 |
$ |
34,075 |
$ |
33,777 |
$ |
37,431 |
$ |
41,469 |
Shares outstanding |
|
13,518 |
|
13,518 |
|
13,518 |
|
13,518 |
|
13,518 |
Net assets per share |
$ |
2.57 |
$ |
2.52 |
$ |
2.50 |
$ |
2.77 |
$ |
3.07 |
During the second quarter of 2021 the fair value
of Equus Energy, LLC, increased from $8.5 million to $10.25
million. This was due to price increases for crude and natural gas
during the quarter, and recent comparable transactions in the
Permian Basin where Equus Energy holds most of its productive
working interests. Among the various leasehold rights held by Equus
Energy is a 50% working interest in 2,400 acres in the Permian
Basin known as the Conger Field. A number of transactions that
completed in late 2020 and the first six months of 2021 were
concentrated in the Permian Basin, at imputed acreage values
considerably in excess of values ascribed to such acreage in the
past several years.
In addition Equus holds working interests of
7.5% and 2.5% in the Burnell and North Pettus Units, respectively,
which collectively comprise approximately 13,000 acres located in
the area known as the ‘Eagle Ford Shale’ play. The Company received
advice and assistance from a third-party valuation firm to support
its determination of the fair value of this investment.
Significant Events During the Quarter
Follow-On Investment in Equus
Energy— During the second quarter of 2021, we invested an
additional $350,000 in Equus Energy to increase working capital and
financial resources to explore potential transactions involving
Equus Energy and its oil and gas assets.
About Equus
The Company is a business development company
that trades as a closed-end fund on the New York Stock Exchange
under the symbol "EQS". Additional information on the Company may
be obtained from the Company’s website at www.equuscap.com.
This press release may contain certain
forward-looking statements regarding future circumstances. These
forward-looking statements are based upon the Company’s current
expectations and assumptions and are subject to various risks and
uncertainties that could cause actual results to differ materially
from those contemplated in such forward-looking statements
including, in particular, the performance of the Company, including
our ability to achieve our expected financial and business
objectives, and the other risks and uncertainties described in the
Company’s filings with the SEC. Actual results, events, and
performance may differ. Readers are cautioned not to place undue
reliance on these forward-looking statements, which speak only as
to the date hereof. Except as required by law, the Company
undertakes no obligation to release publicly any revisions to these
forward-looking statements that may be made to reflect events or
circumstances after the date hereof or to reflect the occurrence of
unanticipated events. The inclusion of any statement in this
release does not constitute an admission by the Company or any
other person that the events or circumstances described in such
statements are material.
Contact:
Patricia Baronowski Pristine Advisers, LLC(631) 756-2486
Equus Total Return (NYSE:EQS)
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