The newly created unit will focus on the acquisition and development of oil and gas assets. Credit: Arvind Vallabh on Unsplash.

American private equity company Equus Total Return has formed a new wholly-owned subsidiary, known as Morgan E&P.

The newly formed unit will focus on the acquisition, development and operation of oil and gas assets.

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Particularly, Morgan E&P will look to acquire assets in the Bakken area of North Dakota (Williston Basin), according to Equus Total Return.

John Hardy will serve as CEO Of Morgan E&P while Brian McNiell has been named as the president of the newly formed subsidiary.

McNiell, who has over 25 years of experience, served for eight years as president and senior managing director of Mancos Resources.

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At Mancos Resources, he was responsible for making direct investments and offering M&A services in the infrastructure and natural resource space. 

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J. Carlo Limchuatuan has been named as the COO of Morgan E&P. He has more than two decades of experience in investing, advising and operating energy and energy infrastructure companies.

McNiell commented: “Carlo and I have known John for many years and are now looking forward to working with him to build Morgan.”

Furthermore, Clarence Wong has been named as senior vice president of operations and engineering of Morgan E&P.

Wong has experience of nearly 25 years as a chemical, mechanical and process engineer in the upstream, midstream, downstream and renewable segments. 

He previously worked with companies like Enbridge, Marathon Oil Corporation, Breitburn Energy and Equinor. 

Wong oversaw approximately 100 personnel and contractors at any given time, over 1,000 wells, and daily production of over 20,000 barrels of oil equivalent.