Callan JMB Inc. named Michael Reger president of Callan Power LLC, a wholly owned subsidiary focused on oil and gas development and domestic manufacturing of transformers and electrical equipment.
The appointment becomes effective following the completion of Callan JMB’s acquisition of Reger Oil, Inc., a transaction that will also trigger Reger’s compensation structure. He will not receive a cash salary but will be compensated through equity participation in Callan Power.
Reger, founder of Northern Oil and Gas, Inc., brings extensive experience in energy and industrial operations. He led Northern Oil from its founding in 2006 until 2019, overseeing a recapitalization process between 2018 and 2019 that included approximately $650 million in recapitalization and roughly $850 million in acquisitions. Under his leadership, Northern Oil’s production grew to more than 40,000 barrels of oil equivalent per day, with a market capitalization of about $2.9 billion as of Aug. 21, 2026.
Callan Power will establish its corporate headquarters at the Atlas Complex in Marion, Alabama, with additional manufacturing operations planned at a facility owned by Alabama State University in Brewton. The subsidiary aims to produce a range of transformers and electrical infrastructure, including power and distribution transformers, dry-type and pad-mounted transformers, specialized transformers for renewable energy applications, mobile substations, battery energy storage systems, and advanced power cables. Operations will leverage advanced automation and vertically integrated production methods.
The new unit will also draw on the expertise of Coldchain Technology Services LLC, another Callan JMB subsidiary that has managed power generation assets for healthcare organizations and government agencies since 2009.
Callan JMB’s stock closed at $2.49 on Aug. 21, up 4.62% from the prior session, while pre-market trading showed a decline of 4.02% to $2.39. The company’s shares had previously declined 11.25% in recent trading sessions.
