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Howard Weil 39th Annual Energy Conference – Callon Petroleum Co.

Callon Petroleum Co. · Mar 30, 2011 · 26 slides

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Slides

  1. Howard Weil 39th Annual Energy Conference – Callon Petroleum Co. – slide 1
    Howard Weil 39th A Annuall Energy E Conference March 30, 2011 NYSE: CPE Callon Petroleum Corporate Presentation
  2. Howard Weil 39th Annual Energy Conference – Callon Petroleum Co. – slide 2
    Company Overview Founded 1950 and headquartered d d dh d d in Natchez, MS + Technical Office in Houston, TX Headquarters, + Field Office in Midland, TX , Field Operations Office, Natchez, MS Midland, TX Technical Office,…
  3. Howard Weil 39th Annual Energy Conference – Callon Petroleum Co. – slide 3
    Business Strategy Transition operations into onshore selected oil Transition operations into onshore selected oil and natural gas basins using cash flow from GOM properties as key funding source properties as key funding source…
  4. Howard Weil 39th Annual Energy Conference – Callon Petroleum Co. – slide 4
    OPERATIONS OVERVIEW NYSE: CPE Callon Petroleum Corporate Presentation
  5. Howard Weil 39th Annual Energy Conference – Callon Petroleum Co. – slide 5
    Areas of Focus Operated Haynesville Shale* Non-operated High impact gas growth Permian Basin + 380 boe/d net production Lowrisk oil growth + 2.3 MMboe of proved reserves + 550 boe/d net production + 4 net additional locations +…
  6. Howard Weil 39th Annual Energy Conference – Callon Petroleum Co. – slide 6
    Resources Drive Growth Available Resources 20 ac Wolfberry 9 MMboe Possible Haynesville 2 Mmboe 40 ac Wolfberry 6 MMboe Probable Haynesville 2 MMboe GOM 2 MMboe 150% 200% Reserve Rep. D bl Di i P d i G Double Digit…
  7. Howard Weil 39th Annual Energy Conference – Callon Petroleum Co. – slide 7
    Executing Onshore Expansion Plans Onshore reserves now represent 50% of total proved at YE:2010 h f l d Plan to continue reinvestment of cash flow from Gulf of Mexico properties to expand development and onshore acreage positions O…
  8. Howard Weil 39th Annual Energy Conference – Callon Petroleum Co. – slide 8
    GOM Funds Onshore Development Medusa d MC 538/582 / 2011 + 15% W.I., Murphy operates + 1,300 Boe/d current net production Gulf of Mexico Cash Flow + Most wells in primary completion with Most wells in primary completion with…
  9. Howard Weil 39th Annual Energy Conference – Callon Petroleum Co. – slide 9
    Haynesville Shale N A Net Acres: 430 Callon Operated (69% W.I. / 52% NRI) C Callon ll YE: 2010 Net Proved: YE: 2010 Net Proved: 2 3 MMboe 2.3 MMboe Gross Production: 4.3 MMcfe/d Total Gross Locations: 6 Gross EURs(1): 7…
  10. Howard Weil 39th Annual Energy Conference – Callon Petroleum Co. – slide 10
    Permian Basin Highly skilled, focused Average Monthly Rig Count TRRC Districts 7C,8, and 8A and motivated team 350 300 Partner with capable contractors 250 ount Bundle services for safety Bundle services for…
  11. Howard Weil 39th Annual Energy Conference – Callon Petroleum Co. – slide 11
    Wolfberry Properties NM TX Net Acres: 6,641 Callon Operated ((95% W.I. / 71% NRI) / ) YE:2010 Proved: 4.5 Mmboe Net Production: 550 Boe/d Total Net Locations: 298 Carpe Diem (132 Net 40 acre locations) Kayleigh Gross EURs(1):…
  12. Howard Weil 39th Annual Energy Conference – Callon Petroleum Co. – slide 12
    Permian Geologic Section Access to Oil Rich Resource Carpe Diem Kayleigh Bloxom 0 0 0 0 Clearfork 900 900 Spraberry 2100 Dean 2300 Wolfcamp 3200 Strawn Carpe Diem Kendra 4 Atoka Kayleigh y g Kayleigh 14 East…
  13. Howard Weil 39th Annual Energy Conference – Callon Petroleum Co. – slide 13
    Halliburton Agreement Pumping service agreement signed January 2011 3 fracture stimulations per month for February April Increasing to 4 wells per month in May to 4 wells per month in May Successfully performed 6 fracture…
  14. Howard Weil 39th Annual Energy Conference – Callon Petroleum Co. – slide 14
    Carpe Diem Development Callon operated (84.4% W.I. / 63.3% NRI) Development Potential + 46 net development locations on 40acre spacing p g + 54 net development locations on 20acre spacing Drilled 4 gross wells in 2010…
  15. Howard Weil 39th Annual Energy Conference – Callon Petroleum Co. – slide 15
    Kayleigh Development Callon operated (100% W.I. / 73.3% NRI) Development potential + 8 net development locations on 40acre spacing p g + 16 net development locations on 20acre spacing Drilled 2 gross wells in 2010 Drilled 2…
  16. Howard Weil 39th Annual Energy Conference – Callon Petroleum Co. – slide 16
    East Bloxom Development Callon operated (100% W.I. / 75% NRI) Development potential + 78 net development locations on 40acre spacing p g + 96 net development locations on 20acre spacing Drilled 14 gross wells in 2010 Drilled…
  17. Howard Weil 39th Annual Energy Conference – Callon Petroleum Co. – slide 17
    Multiyear Inventory 2 i 2 rig continuous program in the Permian in 2011 i i h i i 20 + Targeting 44 gross wells in 2011 (3 year inventory of 40 acre wells at current pace of development) Existing Permian acreage provides multiyear…
  18. Howard Weil 39th Annual Energy Conference – Callon Petroleum Co. – slide 18
    Permian Basin Assets Average Net Daily Production Rate (BOE/d) 600 500 Growth From New Wells (11 Completions) 400 300 200 100 0 19 NYSE: CPE Callon Petroleum Corporate Presentation
  19. Howard Weil 39th Annual Energy Conference – Callon Petroleum Co. – slide 19
    2011 Focus on the Permian Pumping Services Agreement will accelerate 2,500 2011 Permian Growth production growth production growth 2,000 Operating 2 drilling rigs 1,500 PD Drill 44 wells with gross Drill 44 wells with…
  20. Howard Weil 39th Annual Energy Conference – Callon Petroleum Co. – slide 20
    Focus, Execute & Deliver Results Experienced Team In Place + Boots On The Ground In The Permian Basin M liY MultiYear, LowRisk Drilling Inventory L Ri k D illi I + Line of Sight Double Digit Growth + 150200% Reserve Replacement…
  21. Howard Weil 39th Annual Energy Conference – Callon Petroleum Co. – slide 21
    FINANCIAL OVERVIEW NYSE: CPE Callon Petroleum Corporate Presentation
  22. Howard Weil 39th Annual Energy Conference – Callon Petroleum Co. – slide 22
    Recent Public Offering Summary Completed: February 2011 Shares Issued: Shares Issued: 10,100,000 Net Proceeds: 73,700,000 Shares Outstanding: 39,105,000 Use of Proceeds: Use of Proceeds: To fund an increased onshore To fund…
  23. Howard Weil 39th Annual Energy Conference – Callon Petroleum Co. – slide 23
    Capitalization Enhanced Equity offering ff improves book capital Capitalization 12/31/10 12/31/10 No debt obligations No debt obligations ( in millions) ( in millions) Actual ProForma until 2016 Cash & Cash Equivalents 17.4…
  24. Howard Weil 39th Annual Energy Conference – Callon Petroleum Co. – slide 24
    2011 Capital Expenditures 2011 i l di b d f d 2011 capital expenditure budget focused on Permian development drilling 2011 CAPEX BY LOCATION (more than double 2010 pace) Planned Wells CapEx Gross Net (MM) Plan on running 2 rigs and…
  25. Howard Weil 39th Annual Energy Conference – Callon Petroleum Co. – slide 25
    Why Callon Now Onshore transition well underway h ll d + Increased proved reserves 41% in 2010 to 13.6 MMboe + 50% of proved reserves now onshore + 50% of current production and 60% of YE:2010 proved reserves 50% of current…
  26. Howard Weil 39th Annual Energy Conference – Callon Petroleum Co. – slide 26
    Callon Petroleum Data TRADING DATA / KEY STATISTICS NYSE: CPE Average Daily Vol.: 840,000 52week Range: 3.54 9.36 Current Share Price: Current Share Price: 7.50 OFFICES Market Capitalization: 295 Million Natchez, MS…

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