Callon Petroleum 3Q17 Highlights Current Rig Activity Adj. EBITDA margin increase to 74% (1) WildHorse Continued focus on cost improvements, FINANCIAL RESULTS 20% reduction in LOE/Boe since 1Q17 5.08 per Boe (excludes G&T,…
Focused on Corporate Level Returns What Creates Value EBITDA Margins Drive Re-investment Value (1) Constant re-evaluation of 80% Peer Benchmarking best capital allocation 70% Average EBITDA Margins (%) decisions on a full-cycle basis…
Midland Basin Well Performance Leading Well Productivity Across the Basin Callon Daily Production Consistently strong well results across all Midland Basin 30 assets 25 Average 180 day oil rates per 1,000 lateral feet since 20…
Capital Budget Update Preparing for 2018 Net Cash Outlay Expected to Increase Slightly (MM) 2017 capital activity has incorporated proactive 400.0 infrastructure spending to prepare for full asset development 380.0 Annual…
Building Out Infrastructure for 2018 and Beyond Laying the Groundwork Major Infrastructure Projects Significant strides for 2017 Projects WildHorse infrastructure build-out across Saltwater Disposal the entire Callon footprint Tank…
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: Strong Initial Operated Well Results Early time results from the Sleeping Indian A1 tracking 60% above Lower WC A type curve Peak 24 hr rate to date: 1,640 Boe/d (82% oil) or 238 Boepd/1,000 (has not reached peak 30 day average)…
WildHorse: Consistent Performance and Oil Growth Continued Delineation Across Focus Area Exceptional WC A Performance Well / Pad IP30 (Boe/d) 1 Wright-Adams Unit 31-42 05AH 1,976 6 2 Cheek Unit 28-21 01AH 1,901 5 2 3 Colonial Pad…
Ranger: Potential for Increased Returns and Inventory Eaglehead Lower WC B wells have crossed over type Recent L WC B Performance Outpacing Type Curve curve and continue to climb 80,000 On average, the new wells are outperforming oil…
Monarch: Track Record of Solid Results Pilot Programs Prove 13-Well Spacing in LSBY Longest Laterals Drilled To-date Continued strong results from the Kendra pad, longest laterals drilled to-date, reaffirm LSBY potential Established…
Financial Positioning Highlights Capitalization (MM) (1) Ample liquidity supported by a largely unfunded September 30, 2017 revolving credit facility Cash 62 Current borrowing base of 700MM with an elected commitment of 500MM Credit…
Guidance Summary 3Q17 3Q17 4Q17 Highlights Guidance Actual Guidance Total production (MBoepd) 22.5 22.6 22.5 24.0 25.5 PRODUCTION Forecasting 10% sequential Oil production 77% 77% 77% growth for 4Q17 Income Statement Expenses…
Natural Gas Hedge Contracts (1) 15% of 1Q18 Consensus Volumes Hedged (2) Price Protection Over 3 through 1Q18 Natural Gas (MMBtu, /MMBtu) 4Q17 1Q18 16,000 4 Swaps 124,000 - Strike Price 3.39 3.40 Costless Collars 856,000 720,000…
Quarterly Cash Flow Statement 3Q16 4Q16 1Q17 2Q17 3Q17 Cash flows from operating activities: Net income (loss) 21,139 (1,746) 47,129 33,390 17,081 Adjustments to reconcile net income (loss) to cash provided by operating activities:…
Non-GAAP Reconciliation (1) 3Q16 4Q16 1Q17 2Q17 3Q17 Adjusted Income Reconciliation Income (loss) available to common stockholders 19,315 (3,570) 45,305 31,566 15,257 Adjustments: Change in valuation allowance (7,907) 559 (13,119)…
Non-GAAP Reconciliation (1) 3Q16 4Q16 1Q17 2Q17 3Q17 Adjusted G&A Reconciliation Total G&A expense 7,891 6,562 5,206 6,430 7,259 Adjustments: Less: Early retirement expenses (444) Less: Early retirement expenses related to…
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