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Acquisition Overview April 2016 – Callon Petroleum Co.

Callon Petroleum Co. · Apr 20, 2016 · 13 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. Acquisition Overview April 2016 – Callon Petroleum Co. – slide 1
    CALLON PETROLEUM COMPANY Acquisition Overview April 2016
  2. Acquisition Overview April 2016 – Callon Petroleum Co. – slide 2
    COMBINED ACQUISITIONS Acquisitions include Big Star (primarily Howard County) and Western Reagan County AMI 12,951 core net surface acres delineated for Big Star Spraberry/Wolfcamp development (1) Net Acres: 14,089 acres…
  3. Acquisition Overview April 2016 – Callon Petroleum Co. – slide 3
    METRICS & COMPARABLES Big Star Metrics Total Consideration (2) 301 MM Recent Howard Co. Transactions (1) Net Surface Acreage Acquired 14,089 acres Moss Creek Acquisition of 1Q16e Net Production (% oil) (3) 1,931 Boe/d (82% oil)…
  4. Acquisition Overview April 2016 – Callon Petroleum Co. – slide 4
    DEEP HIGH-RETURN INVENTORY Acquired Properties Returns Are Competitive with Top-Tier Legacy Portfolio 83% Illustrative Type Curve EURs & Returns 52% 41% 39% 36% IRRs EURs 1050 MBoe 850 MBoe 700 MBoe 675 MBoe 725 MBoe…
  5. Acquisition Overview April 2016 – Callon Petroleum Co. – slide 5
    CURRENT AFE ESTIMATES Drilling Completion Facilities 6,650 5,850 5,050 4,150 Lateral Length 5,000 7,500 9,000 10,000 Stages 20 30 34 38 Drilling (M) 1,550 1,600 1,700 1,750 Completion (M) 2,450 3,300 4,000 4,750…
  6. Acquisition Overview April 2016 – Callon Petroleum Co. – slide 6
    BIG STAR ACREAGE SUMMARY Big Star Assets Provide a Substantial Footprint in Emerging Core Area (1) 17,298 gross / Big Star Element Ponderosa Unit L 1H Wolfe-McCann Unit 10-15 2H 14,089 net acres Lower Spraberry Wolfcamp A 30D IP:…
  7. Acquisition Overview April 2016 – Callon Petroleum Co. – slide 7
    INVENTORY OVERVIEW Gross Horizontal Location Inventory Big Star Type Curves 300 Long Short 124 Operated Hz Performance vs. Type Curve (7,500) (2) (2) 120 Laterals Laterals Lower Spraberry TC Cumulative Production (MBoe) 250…
  8. Acquisition Overview April 2016 – Callon Petroleum Co. – slide 8
    DELINEATED STACKED PAY Lower Spraberry OIP (1) Wolfcamp A OIP (1) Over last 18 months, Howard Co. has been the site of many of the Well IP BO/Day Midland Basins high-profile transactions Howard Co. has emerged as a new core area…
  9. Acquisition Overview April 2016 – Callon Petroleum Co. – slide 9
    CORE LEVEL RESOURCE IN PLACE The depositional environment associated with the Big Star assets is analogous to our Central Basin area, resulting in similar rock types, log character and calculated OIP. One of the key differences is a…
  10. Acquisition Overview April 2016 – Callon Petroleum Co. – slide 10
    POST-TRANSACTION AMI Well-Aligned Western Reagan County AMI Forming AMI with non-op financial partner, TRP, in western Reagan Co. Transaction includes acquiring 55% of new AMI acreage (5,736 gross/4,745 net) in exchange for 33mm in…
  11. Acquisition Overview April 2016 – Callon Petroleum Co. – slide 11
    WESTERN REAGAN WELL ACTIVITY Expanding in Area with Strong Performance in Multiple Wolfcamp Benches (1) Seller Seller Turner AR Unit 30HS Ham Unit M 2 06HS Wolfcamp A Wolfcamp A IP24: 1,283 Boe/d (87% Oil) IP24: 1,097 Boe/d (85%…
  12. Acquisition Overview April 2016 – Callon Petroleum Co. – slide 12
    INVENTORY OVERVIEW Potential Gross Horizontal Locations Legacy Callon Pro Forma Acquisitions 1,600 1,600 629 Central Southern Central Southern Big Star 1,400 Midland Midland 1,400 Midland Midland 1,200 1,200 414 1,000 1,000 66…
  13. Acquisition Overview April 2016 – Callon Petroleum Co. – slide 13
    DEVELOPMENT OUTLOOK Illustrative Pro Forma Program Rig Count Bear Scenario Base Scenario Bull Scenario 4 Bull Scenario includes addition of 3rd rig in 1H17 to be allocated as returns warrant between legacy assets and recent…

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