Profile: Callon Petroleum Co (CPE)
22 May 2019
Callon Petroleum Company, incorporated on March 29, 1994, is an independent oil and natural gas company. The Company is engaged in the exploration, development, acquisition and production of oil and natural gas properties. The Company focuses on the acquisition and development of unconventional oil and natural gas reserves in the Permian Basin. The Permian Basin is located in West Texas and southeastern New Mexico and consisted of three primary sub-basins: the Midland Basin, the Delaware Basin, and the Central Basin Platform as of December 31, 2016. The Company's drilling activity focuses on the horizontal development of various prospective intervals in the Midland Basin, including multiple levels of the Wolfcamp formation and the Lower Spraberry shale. It owns additional immaterial properties in Louisiana.
As of December 31, 2016, the Company had owned leaseholds in 39,570 net acres in the Permian Basin, all of which was located in the Midland Basin. As of December 31, 2016, its estimated net proved reserves totaled 91.6 million barrel of oil equivalent (MMBOE) and included 71.1 million barrels of oil (MMBbls) of oil and 122.6 billion cubic feet (Bcf) of natural gas. For the year ended December 31, 2016, it had drilled 29 gross (20.9 net) horizontal wells, completed 32 gross (23.7 net) horizontal wells and had six gross (4.2 net) horizontal wells awaiting completion. As of December 31, 2016, it had 428 gross (331.9 net) working interest oil wells, three gross (0.1 net) royalty interest oil wells and no natural gas wells.
Callon Petroleum Co
1401 Enclave Pkwy Ste 600
HOUSTON TX 77077-2054