Callon Petroleum Significant core footprint with over 40,000 net acres in Midland Basin, including over 20,000 net acres in our WildHorse area Three core operating areas with established horizontal production from five zones with…
Midland Basin Growth September 30, 2015 September 30, 2016 (1) Over the past 12 months, despite a challenging oil price environment, Callon has achieved the following milestones (pro forma for the Plymouth Acquisition): Grown…
Inventory Overview Potential Horizontal Locations (Gross) (1) Years of Drilling Inventory (2) 2,000 790 Drilling Years Delineation Upside Locations Density Upside (LS/WCA/MS) Delineated Locations 2 Rigs 3 Rigs 4 Rigs 1,800 Other…
Premier Asset Quality Delineated Inventory Economics (Gross) (1) Delineated Inventory Payout (at Current Costs) (2) 1,200 Payout Period Focus of 3-year Program 866 locations yield 101 Locations estimated 25+% IRRs at Monarch 6 rig…
Operations
Focus Operating Areas Plymouth acquisition closed in late October WildHorse Net acres(1): 20,353 Recently commenced program development of Lower Spraberry and Wolcamp A Delineated locations(2,3): 349 Establishing facilities and…
WildHorse Area Overview WildHorse Assets Provide a Substantial Footprint in Emerging Core Area (1) Callon Oxy 20,353 net acres ( 90% Ponderosa Unit L 1H LSBY WC A WC B Adams 4201WA Lower Spraberry Callon Working Interest Well Wolfcamp…
Operational Update Activity Summary Key Initiatives / Highlights Placed 7 gross (5.2 net) wells on production in 3Q16 with an Integrating acquired asset bases and positioning for efficient average completed lateral length of 7,900…
Completion Optimization Progression and Near Wellbore Intensity Enhancement Frac Volume and Conductivity Improvement Measures: 1,300 lbs./ft. 1,500 lbs./ft. Increasing proppant loading Reducing 100 mesh % when operationally feasible…
Silver City Result Supports Enhanced Completion Value Thesis Sidewinder Field Exceptional Early Time Performance Cumulative IP24 IP30 Drilled Proppant Wolfcamp A 90-Day Prod Stages (BOE/d) (BOE/d) Lateral (lbs./ft) (MBOE) SILVER…
Financial
Financial Profile 3Q16 Adjusted Capitalization (MM) (1) Solid Financial Position for Growth Initiatives Stockholders' Equity Senior Notes Term Loan Revolving Credit Facility Pro forma leverage < 2x EBITDA with over Bank Availability +…
Increased 2016 Guidance Highlights YTD 2016 Actuals and Full-Year Guidance Original FY16 Updated FY16 Increased production guidance range to 31% above Guidance Guidance original midpoint (March 2016) (November 2016) Operating CapEx…
Longer-Term Development Planning Highlights Daily Production Planning for four rig development program by 2H17, 29,000 31,000 35,000 with incremental focus on WildHorse and Monarch areas (78% - 80% oil) 30,000 22,000 24,000 Designed…
Summary Transformational activity during period of commodity price weakness Drillbit optionality in three core areas to drive organic growth initiatives Capital efficiency from well economics and infrastructure investment positions…
Asset Detail i. WildHorse ii. Monarch iii. Ranger
i. WildHorse
WildHorse Overview Sidewinder 6,000 Wolfcamp B Lower Spraberry Wolfcamp A Maverick Recently closed meaningful bolt-on acquisition to core portions of WildHorse position, 75 % of which directly offsets record Silver City…
Pro Forma WildHorse Inventory & Economic Detail Gross Horizontal Location Inventory (1) WildHorse Type Curves Avg WildHorse Well 500 180 Lower Spraberry TC Wolfcamp A TC Cumulative Production (MBoe) 160 400 104 Wolfcamp B TC 140…
ii. Monarch
Monarch Overview CaBo Lower Spraberry Wolfcamp A Wolfcamp B Middle Spraberry Pecan Acres Five flow units producing with 2016 focus on the Lower Spraberry First Wolfcamp A well was placed online in 3Q16 at Pecan Acres…
Monarch Inventory Detail Gross Horizontal Location Inventory (1) Monarch Type Curves 900 LS - 5,000' 300 800 LS - 7,500' Cumulative Production (MBoe) 700 250 LS - 10,000' 600 378 200 500 150 400 784 85 300 86 100 200 134 50 100…
iii. Ranger
Ranger Overview East Bloxom 6,000 Lower Spraberry Wolfcamp A Garrison Draw Upper Wolfcamp B Lower Wolfcamp B High-quality acreage with four producing flow units, each with well-established production data Offsetting…
Ranger Inventory Detail Gross Horizontal Location Inventory (1) Ranger Lower Wolfcamp B Type Curves 600 Gen 3 (850 MBoe) 200 500 Gen 2 (603 MBoe) Cumulative Production (MBoe) 180 160 Gen 1 (460 MBoe) 400 140 257 300 120 506 100…
Western Reagan Well Activity Expanding in Area with Strong Performance in Multiple Wolfcamp Benches (1) Callon WC A Upper WC B Lower WC B Callon Turner AR Unit 30HS Ham Unit M 2 06HS Wolfcamp A Wolfcamp A 30D IP: 883 Boe/d (79% Oil)…
Hedge Portfolio 4Q16 1Q17 2Q17 3Q17 4Q17 Crude Oil Swap contracts Volume (Bbl per day) 2,000 2,000 2,000 2,000 2,000 Average NYMEX swap price 58.23 44.50 44.50 44.50 44.50 Put contracts Volume (Bbl per day) 2,000 2,000 2,000…
Non-GAAP Reconciliation (1) 3Q-2015 4Q-2015 1Q-2016 2Q-2016 3Q-2016 Adjusted Income Reconciliation Income (loss) available to common stockholders (113,779) (115,144) (42,933) (71,920) 19,315 Adjustments: Change in valuation…
Non-GAAP Reconciliation (1) 3Q-2015 4Q-2015 1Q-2016 2Q-2016 3Q-2016 Adjusted G&A Reconciliation Total G&A expense 4,302 6,180 5,562 6,302 7,891 Adjustments: Change in the fair value of liability share-based awards (57) (1,842)…
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