Deals - Joint Ventures | Capital Markets | Partnerships | Private Equity Activity
TRP Energy Joins Callon In Permian Acquisition
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On April 15, 2016, Callon entered into definitive purchase and sale and joint development agreements for the following transactions comprising total net cash consideration of $33 million.
Key elements of the AMI Transaction include:
Formation of an area of mutual interest with TRP Energy, LLC (TRP) in western Reagan County, Texas, through the joint acquisition from a private party of 4,745 net acres (with a 55% share to Callon) north of the Garrison Draw field; and
Callon's simultaneous sale of a 27.5% interest in the Garrison Draw field to TRP.
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