Callon Petroleum (CPE) is an independent exploration and production company. The company focuses its operations entirely in the Permian Basin—that is, CPE is a pure-play Permian company.
In the Permian basin, CPE’s operations are primarily focused in the Midland basin, with an acreage position of over 40,000 net acres there. CPE’s three core operating areas within the basin are Wildhorse, Monarch, and Ranger.
In 2016, CPE announced a series of acquisitions to strengthen its Permian position—one if Callon’s key growth objectives.
In April 2016, the company acquired assets operated by the Big Star Oil and Gas. Assets included ~17,298 gross acres in Howard County. They also included 178 gross horizontal drilling locations in Wolfcamp A, Lower Spraberry, and Wolfcamp B zones.
In September 2016, Callon announced a $327-million acquisition from Plymouth Petroleum. Assets included ~6,916 gross acres, primarily in Howard County, and 167 gross horizontal drilling locations in the Wolfcamp A, Lower Spraberry, and Wolfcamp B zones.
In December 2016, CPE announced yet another Permian acquisition, but this time it was in the Delaware Basin region. Keep reading this series for more detail.