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Callon Petroleum Company

Company Summary

Description

Founded in 1950, we are an independent oil and natural gas company focused on growing production and reserves from our oil-weighted, multi-play, multi-pay assets in the Permian Basin.

Website

http://www.callon.com/

Operational Regions

  • Permian Basin
  • Midland Basin

Financial Data:

NYSE:CPE from Google Finance

Tickers:

  • CPE - New York Stock Exchange

Related Entities

Recent news

  • 8/5/2022 - Callon Petroleum Reports... (subscriber access)
  • 8/5/2022 - Callon Petroleum Reports... (subscriber access)
  • 8/5/2022 - Callon Petroleum Updates... (subscriber access)
  • 6/10/2022 - Callon Petroleum Offers... (subscriber access)
  • 6/7/2022 - Callon Petroleum Lifts... (subscriber access)

Investor Presentations

  • 2021 Primexx Acquisition
  • 2Q20 Investor Presentation (subscriber access)
  • 4Q19 Investor Presentation (subscriber access)
  • 3Q19 Investor Presentation (subscriber access)
  • 2Q19 Investor Presentation (subscriber access)
  • 1Q19 Earnings Update (subscriber access)
  • 4Q18 Investor Presentation (subscriber access)
  • 3Q18 Earnings Presentation (subscriber access)
  • 2H18 Investor Presentation (subscriber access)
  • 1Q18 Investor Presentation (subscriber access)
  • Fourth Quarter 2017 Earnings Presentation (subscriber access)
  • 3Q17 Earnings Presentation (subscriber access)
  • 2Q17 Earnings Presentation (subscriber access)
  • 1Q17 Earnings Presentation (subscriber access)
  • Investor Presentation - April 2017 (subscriber access)
  • Investor Presentation - February 2017 (subscriber access)
  • 3Q16 Earnings Slides (subscriber access)
  • June 2016 Earnings Presentation (subscriber access)
  • June 2016 Investor Presentation (subscriber access)

Company Transactions

Date: 11/15/2021
Type: Acquisition

DETAILS:

COST: 100 $MM

VOLUMES: 1.9 MBOE/d

ACRES: 22000 Acres

NOTES:
Callon Petroleum has signed a deal to divest non-core Eagle Ford acreage for $100 million. The deal includes 22,000 net acres in LaSalle Frio Counties, Texas, which produced 1.9 Mboe/d (66% oil.) The sale also eliminates $50 million in planned capital spending tied to drilling obligations for the next two years.
REGIONS:
  • Eagle Ford
  • Date: 10/15/2021
    Type: Acquisition

    DETAILS:

    COST: 788 $MM

    VOLUMES: 18 MBOE/d

    ACRES: 35000 Acres

    NOTES:
    Callon Petroleum has signed a deal to acquire the oil and gas assets of Primexx Energy Partners in the Delaware Basin for $788 million in cash & stock. The assets include 35,000 net acres in Reeves County, Texas, and 2Q21 production of 18 Mboe/d (61% crude oil.) Callon will issue Primexx 9.19 million shares of stock and $440 million in cash, with closing expected in 4Q21. The cash portion of the deal comes from Callons credit facility, with plans to repay that via free cash flow and other in-process divestments.
    REGIONS:
  • Delaware Basin
  • Date: 6/30/2021
    Type: Acquisition

    DETAILS:

    COST: 40 $MM

    VOLUMES: 3.4 MBOE/d

    NOTES:
    Callon Petroleum entered a deal in April 2021 to divest $40 million in non-core Delaware Basin assets. The deal mainly covers natural gas properties with 3.4 Mboe/d (25% oil) in production and a small undeveloped acreage position.
    REGIONS:
  • Delaware Basin
  • Date: 10/1/2020
    Type: Acquisition

    DETAILS:

    COST: 140 $MM

    NOTES:
    Callon Petroleum will be divesting an overriding royalty interest (ORRI) to a private investment vehicle ran by Kimmeridge Energy for $140 million in gross cash. The ORRI covers 3.5% of current daily production with a 2% ORRI on substantially all of Callons oil and gas leases.
    REGIONS:
  • Permian Basin
  • Date: 10/1/2020
    Type: Acquisition

    DETAILS:

    COST: 30 $MM

    VOLUMES: 1.6 MBOE/d

    NOTES:
    Callon Petroleum has entered into a deal to sell virtually all non-operated assets for gross cash proceeds of $30 million. The deal covered daily production of 1.6 Mboe/d (55% oil) and will close in November 2020.
    REGIONS:
  • Permian Basin
  • Date: 12/31/2019
    Type: Merger

    Date: 4/8/2019
    Type: Acquisition

    DETAILS:

    COST: 160 $MM

    VOLUMES: 4 M Bbls/d

    ACRES: 9850 Acres

    REGIONS:
  • Midland Basin
  • Date: 1/1/2019
    Type: Acquisition

    DETAILS:

    COST: 245 $MM

    NOTES:
    Callon Petroleum closed on its previously reported divestiture of non-core assets in the southern Midland Basin to Sequitur for net cash proceeds of $245 million.
    REGIONS:
  • Midland Basin
  • Date: 8/31/2018
    Type: Acquisition

    DETAILS:

    COST: 570 $MM

    VOLUMES: 6.82 MBOE/d

    ACRES: 28657 Acres

    NOTES:
    The land contains production of 6.82 Mboe/d (73% oil), an inventory of 212 identified horizontal drilling locations across three horizons and potential locations across the Second Bone Spring and Wolfcamp C.
    REGIONS:
  • Delaware Basin
  • Midland Basin
  • Date: 10/10/2017
    Type: Acquisition

    NOTES:
    Brazos Midstream has closed on a deal with Callon Petroleum that includes the acquisition of Callon's natural gas gathering assets in the Southern Delaware Basin. The acquisition also concludes a long-term, fee-based agreement between Callon and Brazos Midstream that covers gas gathering and processing for acreage in Ward and Pecos Counties, Texas.
    REGIONS:
  • Delaware Basin
  • Date: 6/5/2017
    Type: Acquisition

    DETAILS:

    COST: 52.5 $MM

    ACRES: 2488 Acres

    NOTES:
    Callon Petroleum reported that on June 5, 2017, they closed on the acquisition of 2,488 net acres in the Delaware Basin for $52.5 million. The deal was funded with cash on hand and proceeds from a recent note offering.
    REGIONS:
  • Delaware Basin
  • Date: 2/13/2017
    Type: Acquisition

    DETAILS:

    COST: 615 $MM

    VOLUMES: 1.95 MBOE/d

    ACRES: 16098 Acres

    REGIONS:
  • Delaware Basin
  • Date: 9/7/2016
    Type: Acquisition

    DETAILS:

    COST: 327 $MM

    VOLUMES: 2.3 MBOE/d

    ACRES: 5667 Acres

    REGIONS:
  • Permian Basin
  • Date: 5/31/2016
    Type: Acquisition

    DETAILS:

    COST: 220 $MM

    ACRES: 14089 Acres

    NOTES:
    Total consideration paid for the acquisition was approximately $220 million in cash and 9.3 million shares of Callon common stock.
    REGIONS:
  • Permian Basin
  • Date: 5/31/2016
    Type: Acquisition

    SELLERS:
  • TRP Energy, LLC
  • DETAILS:

    COST: 33 $MM

    ACRES: 4745 Acres

    REGIONS:
  • Permian Basin