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Strong Well Results Boost Callon's Type Curve; Fourth Rig to be Added in July
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Callon released its Q1 results. Highlights from the conference call / presentation include:
In its WildHorse area, Callon added a third horizontal rig. Callon saw such favorable results from the 6 completed wells to increase the type curve from 1 mboe to 1.3 mboe, an incease of 85% over the 700 mboe type curve assumed at the time the company acquired WildHorse. If the wells continue to overperform expecations, Callon may move the type curve again but were not sure whether they would have to. Of the 6 wells completed, Callon was most excited about results from two wells in particular.
The Wright-Adams 31-42 #5AH well had a peak 30-day IP rate of 1,976 (91% oil) with a lateral of 6,832 and the Garrett-Reed 37-48 #8AH well had a peak 30-day IP rate of 1,211 (90% oil) with a lateral of…
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