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Callon Grows Production 30% YoY; Wolfcamp A Spacing Outperforming
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Callon Petroleum reported its Q1 2018 results. Here is a quick read.
Increased production to 26.6 MBoepd (77% oil), an increase of 30% year-over-year Successful early results from Wolfcamp A down-spacing test in Howard County with 10-well spacing exceeding the performance of offsetting eight-well spacing pads Capital incurred was $105.3 million. Wells drilled 16 gross (13.2 net) horizontal wells Wells placed on production 15 gross (9.0 net) horizontal wells Operations UpdateAt March 31, 2018, we had 247 gross (184.5 net) horizontal wells producing from eight established flow units in the Permian Basin. Net daily production for the three months ended March 31, 2018 grew approximately 30% to 26.6 thousand barrels of oil equivalent per day (77% oil) as compared to the same period of 2017.
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