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Acquistion of Ameredev – Callon Petroleum Co.

Callon Petroleum Co. · Dec 14, 2016 · 15 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. Acquistion of Ameredev – Callon Petroleum Co. – slide 1
    Acquisition Presentation Southern Delaware Basin Entry December 2016
  2. Acquistion of Ameredev – Callon Petroleum Co. – slide 2
    Acquisition Rationale Accretive entrance into the core of the Southern Delaware Basin oil window and the creation of a 4th core operating area Over 16,000 net acres concentrated in Ward County with established horizontal development…
  3. Acquistion of Ameredev – Callon Petroleum Co. – slide 3
    Acquisition Overview Acquiring 16,098 net acres in core area of Southern Delaware Basin oil window Ward County: Basin Deep & Basin Thick Provides a scalable opportunity to enter the Delaware Basin Successful industry delineation…
  4. Acquistion of Ameredev – Callon Petroleum Co. – slide 4
    In the Heart of Delawares Rate of Change Story Deepest portion of basin is concentrated in the Eastern side, where the acquisition acreage is Top of the Wolfcamp Structure Map providing greatest well deliverability potential due to…
  5. Acquistion of Ameredev – Callon Petroleum Co. – slide 5
    Optimally Positioned in the Core of the Delaware Basin Located in core of Southern Wolfcamp A&B OOIP Wolfcamp Oil Gravity Delaware Basin over- pressured oil window Core of position holds a projected 150 MMBo/section in Upper…
  6. Acquistion of Ameredev – Callon Petroleum Co. – slide 6
    Ward County Stacks Up Well Against Core Midland Basin Bone Spring and Wolfcamp Gross Column is 40% Larger than Midland Basin Analogue Ameredev (1) Monarch (1) WildHorse (1) GR Log R GR Log R GR Log R Upper Upper Spraberry 1st 90…
  7. Acquistion of Ameredev – Callon Petroleum Co. – slide 7
    Ward County Neighborhood Well Result Map 1 2 3 4 5 State Eiland Unit 7-33 1H Morrison H B - 13H Monroe 34-195 Unit 2H Walking O C3-28 4H Pyote Flats 98-34 1H Jagged Peak Oxy Anadarko Anadarko/Parsley Jagged Peak LL: 9,910 /FT: 2,335…
  8. Acquistion of Ameredev – Callon Petroleum Co. – slide 8
    Ward County Delineated Well Inventory Gross Horizontal Location Inventory Ward County Type Curves (1) 500 Operated Non-Op Upper WC A Lower WC A WC B 57 300 Cumulative Production (MBoe) 400 250 80 200 300 84 481 150 200 108 100…
  9. Acquistion of Ameredev – Callon Petroleum Co. – slide 9
    Acquired Inventory Complements Existing Portfolio Delineated Inventory Breakevens (Gross) (1) Delineated Inventory Payout (at Current Costs) (2) Payout Period Focus of 3-year Program 1,600 Over 1,400 locations yield estimated 25+%…
  10. Acquistion of Ameredev – Callon Petroleum Co. – slide 10
    NAV Proposition Gross Delineated Horizontal Locations Geographical & Geological Upside Opportunity (1) 1,600 Ward County 1 Trees State 16 5 Oates 10N-2 1H 137 Parsley Energy REEVES Brigham Resources 1,400 Other LL: 4,603 /FT: 1,763…
  11. Acquistion of Ameredev – Callon Petroleum Co. – slide 11
    Ameredev Acquisition vs. Recent Comparable Transactions Recent Southern Delaware Oil Window Transactions (2,3) Comparable Transaction Headline Metrics Wolfcamp Percent Oil Content by Bin (1) /Adjusted Net Acre (2,3) RSP Permian…
  12. Acquistion of Ameredev – Callon Petroleum Co. – slide 12
    Forecasted Full-Cycle Economics Comparison Forecasted full-cycle wellhead returns in-line with or better than recent Callon acquisitions Without credit for potential upside zones, acquired portfolio clears corporate hurdle rate even…
  13. Acquistion of Ameredev – Callon Petroleum Co. – slide 13
    Ameredev Infrastructure & Ward County Takeaway Head Start on Asset-level Infrastructure Build Greater Ward County Crude Takeaway Options (1) NEED SOURCE DOCS WARD REEVES Owned and controlled infrastructure foundation for…
  14. Acquistion of Ameredev – Callon Petroleum Co. – slide 14
    Pro Forma Base Development Plan Illustrative Pro Forma Operated Rig Program (1) Pro Forma Base Plan Highlights: Maintain 3-rig pace in 1H17, plus additional DUC completions and non-operated activity Reallocates previously announced,…
  15. Acquistion of Ameredev – Callon Petroleum Co. – slide 15
    Permian Basin Growth of Core Areas Net Acres 4 56,249 2 17,395 (1) (1) CPE 3Q15 PF CPE 3Q16 CPE 3Q15 PF CPE 3Q16 Daily Production (Boe/d) (2) Gross Delineated Horizontal Locations 1,547 19,951 9,739 536 (1)…

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