One-Page Deal Sheet
Callon Acquires Permian Assets
Callon Petroleum Co. Not Disclosed
Announced Date
June 08,2012
Effective Date
May 01,2012
Close Date
July 05,2012
Transaction Type
Property
Enterprise Value (EV)($MM)
12
Asset/Basin:
{Permian}
TargetZones:
{"Wolfcamp B",Sprabe
Net Acres
Net Operated Locations:
Proved Reserves
Location
Calculated Metrics( EV/Category)
Region
Permian
Country
United States
State
Texas
County
Reagan
Play
Production & Reserves Reserves
Calculated Metrics( EV/Category)
$/ Acre
$/Location
Transaction Details: Subscribe to see
On June 8, 2012, Callon signed a purchase and sale agreement to acquire 2,319 gross (1,762 net) acres in southern Reagan County, TX for a total purchase price of $12 million. Callon intends to initiate a horizontal drilling program focused on the Wolfcamp B shale and currently estimates that the leasehold acquisition will add 19 horizontal Wolfcamp B drilling locations. The pending acquisition also includes seven vertical Sprayberry wells with estimated net proved developed reserves of 215 thousand barrels of oil equivalent. The transaction is expected to close on or before July 10, 2012…
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