Acquisition Highlights Continued consolidation of core Midland Basin acreage that complements Callons existing operational footprint and drilling activity plans Accretive bolt-on acquisition of acreage directly offsetting our…
Acquisition Overview Acquiring 5,667 net acres in core area of Midland Basin WildHorse Acreage Contiguous acreage positions directly offsetting existing WildHorse Acquisition Acreage acreage, which nearly doubles delineated well…
Acquisition Detail Acquired Acreage vs. Current WildHorse Position (1) Acquisition WC A PDP Wells vs. CPE Type Curve (2) WildHorse Acreage Avg. Acquired WC A PDP CPE TC Well 30D IP/1,000 Acquisition Acreage 180 Cumulative…
Differentiated Howard County Asset Performance Peer Operator Map (1) CPE/Acquisition vs. Rest of Howard (2) 25 The average well across WildHorse and Acquisition acreage has outperformed the average well for the rest of Howard in both…
Opportunity for Completion Enhancement Directly Offsetting Acreage Strongest Early Time Performance in Callon Portfolio to Date IP24 IP30 Drilled Lateral Proppant Wolfcamp A Stages (Boe/d) (Boe/d) Length (lbs/ft) SILVER CITY UNIT A…
Forecasted Full-Cycle Economics Comparison Acquisition valuation predicated upon average Big Star type curves despite higher OIP estimates Forecasted full-cycle returnsbased on the same type curve and cost assumptionshave improved…
Pro Forma WildHorse Inventory & Economic Detail Gross Horizontal Location Inventory (1) WildHorse Type Curves Lower Spraberry TC Avg WildHorse Well 500 WildHorse 200 Wolfcamp A TC Avg Acquisition Well Cumulative Production (MBoe)…
Pro Forma Inventory Overview Potential Horizontal Locations (Gross) (1) Delineated Inventory Breakevens (Gross) (2) 1,866 2,000 1,200 Total Prospective Zones Locations 866 locations yield Prospective Density 1,800 estimated 25+% IRRs…
Potential for Value Expansion Callons evaluation of the Pending Acquisition is based upon delineated zones with extended production history, and importantly, a pace of development that is designed to operate within our current activity…
Midland Basin Growth June 30, 2015 June 30, 2016 (Pro Forma) (1) Over the past 12 months, despite a challenging oil price environment, Callon has achieved the following milestones (pro forma for the Pending Acquisition): Grown…
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