One-Page Deal Sheet
Callon Acquires 19,000 Net Acres from Cimarex for $545 MIllion
Callon Petroleum Co. Cimarex Energy Co.
Announced Date
May 25,2018
Effective Date
April 01,2018
Close Date
August 31,2018
Transaction Type
Property
Enterprise Value (EV)($MM)
545
Asset/Basin:
{"Permian - Delaware Basin"}
TargetZones:
{"Third Bone Spring"
Net Acres
28,657 (, 86% Operated )
% Oil:
73 % oil
Net Operated Locations:
212 ({"Third Bone Spring")
Location
Calculated Metrics( EV/Category)
Region
Permian - Delaware Basin
Country
United States
State
Texas
County
Ward ,Pecos
Play
Production Production
6,831 Boe/d
Production Mix
73 % Oil
Calculated Metrics( EV/Category)
$/ Flowing
79,783
$/ Acre
19,018
$/Location
2,570,755
Transaction Details:
Callon Petroleum annouced that the company is acquiring 28,657 net acres in Ward and Peco County, Texas for $545 million in cash (as of the Sept. 4, 2018 closing). The properties are producing 6,831 boe/d (73% oil) and they have identified 212 net horizontal drilling locations targeting the 3rd Bone Spring, Wolfcamp A and Wolfcamp B zones.
Acquisition Metrics
- Purchase Price : $545 million
- Net Daily Production : 6,831 Boe/d
- Net Acres :18,925 (Wolfcamp)
- Net Delinated Horizontal Locations : 212
Acquisition Maps
The pending acquisition is expected to close on or before September 10, 2018
Permian - Delaware Basin Deal Activity In Last 12 Months
| Announced Date | Buyer | Seller | Deal Value($mm) | Location | Category |
|---|---|---|---|---|---|
| Mar-10-2026 |
-  |
- |
Click here | Texas | E&P |
| Sep-02-2025 |
- |
- |
Click here | Texas | E&P |
| May-07-2025 |
- |
- |
Click here | New Mexico | E&P |
| May-03-2025 |
- |
- |
Click here | New Mexico | E&P |
| Nov-13-2024 |
- |
- |
Click here | New Mexico | E&P |
| Date | Deal Headline | Price | $/acre |
|---|---|---|---|
| Jul-30-2024 | Permian Resources Acquires More Delaware Basin Property | - |
- |
| Jul-28-2024 | Vital Energy Acquires Delaware Basin Property From PE-Backed E&P | - |
- |
| Jun-12-2024 | Matador Resources Acquires PE-Backed Ameredev For $1.9 Billion | - |
- |