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Acquisition Overview – Callon Petroleum Co.

Callon Petroleum Co. · May 24, 2018 · 16 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. Acquisition Overview – Callon Petroleum Co. – slide 1
    ACQUISITION OVERVIEW DELAWARE BASIN BOLT-ON ACQUISITION
  2. Acquisition Overview – Callon Petroleum Co. – slide 2
    Acquisition Overview ASSET HIGHLIGHTS PRO FORMA DELAWARE BASIN POSITION 29,000 net surface acres that complement existing Spur area position Delineated 3BS, WCA and WCB benches with Loving Winkler other emerging upside potential…
  3. Acquisition Overview – Callon Petroleum Co. – slide 3
    Strategic Acquisition Complements Our Strategy Directly adjacent and highly complementary to our existing Delaware Basin position True Bolt-On Provides increased scale and focused core inventory expansion Benefits from existing…
  4. Acquisition Overview – Callon Petroleum Co. – slide 4
    Expansion in the Core of the Delaware Basin CORE ACREAGE POSITION WOLFCAMP TOTAL OOIP (MMBO/SEC) WOLFCAMP RESERVOIR PRESSURE Expands operating High Winkler High Loving Winkler Loving position in the core of the 200 10,000…
  5. Acquisition Overview – Callon Petroleum Co. – slide 5
    Building Scale in the Core of the Delaware December 2016 December 2017 May 2018 Loving Winkler Loving Winkler Loving Winkler Ward Ward Ward Reeves Reeves Reeves Callon Dec 2016 Callon May 2018 Callon Dec 2016 Pecos…
  6. Acquisition Overview – Callon Petroleum Co. – slide 6
    Wolfcamp A Design & Performance Optimization CORBETS 34 149 02WA SARATOGA A1 07LA COMPLETION DESIGN EVOLUTION SLEEPING INDIAN A1 01LA RENDEZVOUS A1 01LA & 09UA 180 SELLER WCA AVG (9 wells) 1 Corbets 34 149 02WA 1 Prior operator…
  7. Acquisition Overview – Callon Petroleum Co. – slide 7
    Contiguous Acreage Benefits KEY BENEFITS OF INTEGRATED POSITION Increases working interests in numerous existing blocks Allows for extended laterals in contiguous sections Significantly increases number of long laterals Ward…
  8. Acquisition Overview – Callon Petroleum Co. – slide 8
    Benefits of Significant Existing Infrastructure FACILITIES HIGHLIGHTS INTEGRATED FACILITIES FOOTPRINT SUPPORTS EFFICIENT PAD DEVELOPMENT Four operated SWD wells with 95 Mbbl/d of current injection capacity Supporting water gathering…
  9. Acquisition Overview – Callon Petroleum Co. – slide 9
    Upside Potential 2nd Bone Spring & Wolfcamp C Industry delineation continues beyond primary horizons (Wolfcamp A, Wolfcamp B and 3rd Bone Spring) A G UL Mayflower 42-18 3H K Arno 78 121H Felix Energy Loving Winkler Matador IP24/1,000:…
  10. Acquisition Overview – Callon Petroleum Co. – slide 10
    Value Enhancing Financial Impact BENEFICIAL FINANCIAL IMPACTS Transaction is a measured approach to growth that is immediately accretive to debt-adjusted per share metrics, including cash flow and production, and returns on capital…
  11. Acquisition Overview – Callon Petroleum Co. – slide 11
    Risk Management STRATEGY CRUDE OIL NYMEX WTI HEDGE PORTFOLIO (1) Portfolio approach with focus on total realized price 25 Allow for upside pricing participation in a volatile 20 differential market Mbbl per day Locking in…
  12. Acquisition Overview – Callon Petroleum Co. – slide 12
    Callon Pure Play…
  13. Acquisition Overview – Callon Petroleum Co. – slide 13
    Key Takeaways Significant, complementary expansion of core Delaware position Directly offset acreage position drives material benefits for combined development plan Ability to leverage existing complementary infrastructure…
  14. Acquisition Overview – Callon Petroleum Co. – slide 14
    APPENDIX
  15. Acquisition Overview – Callon Petroleum Co. – slide 15
    Crude Oil Hedge Contracts (1) Crude Oil (MBbl, Wtd Avg. /Bbl) 2H18 1H19 2H19 1H20 2H20 Swaps 1,104 - - - - Strike Price 52.07 Costless Collars 184 Short Call Price 60.50 - - - - Put Price 50.00 Three-way Collars 1,748 1,629…
  16. Acquisition Overview – Callon Petroleum Co. – slide 16
    Natural Gas Hedge Contracts (1) Natural Gas (BBtu, Wtd. Avg. /MMBtu) 1H18 2H18 Swaps 1,706 2,760 Strike Price 2.91 2.91 Costless Collars 720 Short Call Price 3.84 - Put Price 3.40 Total NYMEX Henry Hub Hedge Volume 2,426 2,760…

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