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Callon's Mega Pad Driving Production Growth; Wolfcamp A Outperforming
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Callon provided an update for its 2Q activities and in keeping with the trend from other Permian operators the company has disclosed it signed a oil transport agreement.
QUICK READ
1. Callon signed a oil transportation agreement to move 15mbls/d of oil to the gulf coast.
2. The Randevous wells (Delaware basin) completed on 7,500 ft laterals have produced 260,000 boe (85% oil cut) on the first 100 days outperforming
3. 2018 capEx budget remains unchanged at $520 for the full year.
4. Production increased from 26 Mboe/d in Q1 2018 (77% oil) to 28,954 Mboe/d (76% oil) in Q2 2018.
5. Successful Wolfcamp A wells at Spur, including the initiation of pad co-development of the Upper and Lower Wolfcamp A, significantly outperforming initial operated wells
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