CALLON PETROLEUM COMPANY JANUARY 2014 INVESTOR PRESENTATION
POISED FOR GROWTH Completed onshore transition PERMIAN PRODUCTION Focused in Permian Basin 3,500 Demonstrated horizontal 3,000 drilling expertise Daily Production (Boepd) 2,500 De-risked inventory 2,000 Enhanced credit…
RECORD OF VALUE CREATION INDEXED PERFORMANCE(a) Marketing of GoM assets announced in 250% late April 2013 200% 80%+ increase in stock price over period 150% Building track record 100% as onshore operator 50% 0% CPE…
PURE-PLAY GROWTH STRATEGY Drive growth with ongoing horizontal program development Transitioned early to improve capital efficiency Two fields in 2013 Four fields in 2014 Increasing EURs with extended production history Minimal…
OPERATIONS JANUARY 2014
MIDLAND BASIN EXPOSURE Over 34,000 net acres NORTHERN 131 wells (19 horizontal) 100% operated production Entered in 2009 with 8,800 net acres Expanded acreage position through leasing and acquisitions Evolved to horizontal…
OPERATIONAL EXCELLENCE BRUNO HANSON ENVIRONMENTAL Operational team built EXCELLENCE AWARD (2013) over last four years Dedicated HES team Continued reductions in lease operating costs Unique operating capabilities for a small cap…
GROWING HORIZONTAL BASE Downspacing initiatives Addition of locations at Pecan Acres and Kayleigh Existing Existing Additional 2014 Target PD/PDNP PUD Locations(a) Plans Jo-Mill 0 0 81 Lower Spraberry 0 0 102 Wolfcamp A 1 0 104…
SOUTHERN MIDLAND BASIN Most established area in PRODUCTION basin for horizontal 2,500 development 9,056 net acres / 86% WI 2,000 Daily Production (Boepd) 19 horizontal wells 1,500 Pad development of two fields in 2013 with…
MULTIPLE ZONE DE-RISKING TAYLOR DRAW EAST BLOXOM UPPER WC B LOWER WC B UPPER WC B WC A GARRISON DRAW LOWER WC B Three established zones supported by microseismic Effective horizontal acreage of over 20,000 net acres in three…
EXPANDING INVENTORY Recently completed 3Q13 4Q13 acreage trade at Garrison Draw Addition of horizontal drilling locations in multiple zones Expansion of existing pooled unit Ongoing dialogue with several parties across entire…
CENTRAL MIDLAND BASIN 3,343 net acres PRODUCTION 76% working interest 600 50 vertical wells (recent 500 deepening initiative) Daily Production (Boepd) 400 Initial two horizontal Wolfcamp B wells 300 coming online 200…
NORTHERN MIDLAND BASIN 21,617 net acres LACEY NEWTON 2801 89% working interest 600 Delineation program 500 Daily Production (Boepd) Mississippian chat 400 focus 300 Encouraging vertical well drilled in 4Q13 200 Additional…
UPCOMING DATAPOINTS Operational update in 1Q14 Production data for several recent Upper and Lower Wolfcamp B wells Year-end reserve estimates 2014 capital budget and guidance Ongoing horizontal delineation Central Midland wells…
FINANCIAL JANUARY 2014
IMPROVING FINANCIAL PROFILE Significant progress reducing cost of capital Redemption of 50% of Senior Notes Expanded bank borrowing capacity and lending group No common equity issuance since March 2011 Near-term potential for further…
BALANCE SHEET STRENGTH Total pro forma Debt-to-Cap CAPITALIZATION(a) of 15% at 9/30/13 500 Positioned for robust 400 horizontal drilling program 300 Near-term liquidity MM 200 Capacity for incremental 100 long-term debt…
SUMMARY JANUARY 2014
KEY MESSAGES Reaping rewards of early program development efforts Established inventory of de-risked horizontal locations Northern Midland delineation in process Horizontal expertise combined with focus of a smaller company creates…
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