Callon Petroleum Poised for Accelerated Growth 2017 Activity in All Core Areas (2) Operating 4 rigs across all 4 core operating areas covering 60,000 net acres Midland 2nd dedicated frac fleet engaged Basin WildHorse…
Midland Basin Well Performance Leading Well Productivity Across the Basin Callon Daily Production Consistently strong well results across all Midland Basin assets 25 Average 180 day oil rates per 1,000 lateral feet since January of…
Year End Production Ramp Supports 2018 Growth Net Wells to be Placed on Production during 2H17 (1) 8 6 4 2 0 July August September October November December Monarch Ranger Spur Wildhorse More than 50% of the net wells for…
Measured Growth Plan Philosophy Forecasting 40% Production Growth for 2017 MBoe/d % Oil Robust production growth potential without sacrificing corporate-level 35 returns given breadth of quality inventory and cost structure 30…
Continued Focus on Responsible Produced Water Management Disposal Depth Comparison (1) Identifying SWD Locations with Seismic (2) SWD Conventional CPE Depth (SS) SWD San Andres 4,000 San Andres 10% of volume Ellenburger…
Salt Water Disposal Leading the Way in the Delaware Key Partnership Details South Central Basin Disposal System (SCBDS) New agreement with 3rd party operator (Goodnight) to dispose up to 80% of produced volumes at Spur Disposal…
Spur: Initiating Operated Development Initial Operated Wells Are Underway Optimizing Landing Zones for Operated Wells First two DUCs completed are matching type curves on a per 1,000 basis Previous (Saratoga and Corbetts) Operators…
WildHorse WC A: Program Development Progresses South Expanding to Fairway Development Infrastructure Progress Program development in full stride Two dedicated drilling rigs at WildHorse Oil Gas Water Three target zones Continued…
WildHorse LSBY: Established Base with Upside Commentary YTD 2017 Lower Spraberry Wells Operated LSBY wells to date have tracked acquisition type curve Returning to both Maverick and WildHorse LSBY have exhibited flat production…
Monarch: Organic Inventory Replacement Pilot Programs Prove 13-Well Spacing in LSBY Lower LSBY Consistently Improving Infill Results (2) Pad 1 (2015) Pad 2 (2016) Pad 3 (2017) Results from 2 key sets of tests reinforce optimal LSBY…
Ranger: Additional Upside Emerging Performance Step Change in Recent Area Wells Recent offset results yielding meaningfully higher early-time rates First two Callon-operated L WC B wells continue to flow at encouraging rates 4 1 2…
Financial Positioning Highlights Capitalization (MM) Successfully extended revolving credit facility June 30, 2017 Borrowing base increased to 650MM; CPE elected commitment of Cash 139 500MM Credit Facility 0 Undrawn facility with…
Managing Risk to Maintain Development Plans Crude Oil Volumes Hedged (Bbl/d) (1) 2H17 midpoint of guidance 50% 49.14 12,000 47.25 47.25 50 oil volumes hedged 10,000 40 Price protection through 47+ 2018 8,000 30 /Bbl…
Investment Highlights Peer Oil % Comparison (1) Highest oil exposure amongst peers 90% RESILIENT GROWTH Four core operating areas, all attracting capital in 2017 and 80% delivering strong returns 70% Significant organic resource…
Appendix
Guidance Summary Highlights Guidance Increased expectations for FY17 oil 2Q17 Guidance 2Q17 Actual 3Q17 Guidance FY17 Guidance mix (+2% over previous midpoint) Total production (MBoepd) 21.5 - 23.5 22.2 22.45 22.6 22.0 23.0…
Quarterly Cash Flow Statement 20
Non-GAAP Reconciliation (1) (2) 1) See Important Disclosure slides for disclosures related to Supplemental Non-GAAP Financial Measures. 2) Adjusted EBITDA inclusive of Pro forma Adjustments is used primarily for the purpose of…
Non-GAAP Reconciliation (1) 1) See Important Disclosure slides for disclosures related to Supplemental Non-GAAP Financial Measures. 22
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