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Permian Basin Acquisition – Callon Petroleum Co.

Callon Petroleum Co. · May 31, 2023 · 9 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. Permian Basin Acquisition – Callon Petroleum Co. – slide 1
    SOLIDIFYING OUR PERMIAN FOCUS ACQUI RI NG CORE DELAWARE BASI N ASSETS & EXITING THE EAGLE FORD M AY 2 0 2 3
  2. Permian Basin Acquisition – Callon Petroleum Co. – slide 2
    Focused Operations, Accelerating Shareholder Returns Delaware Basin Acquisition 475MM transaction value1 (265MM cash and 210MM equity2) Accretive to key financial and operating metrics Drives debt below initial 2B milestone…
  3. Permian Basin Acquisition – Callon Petroleum Co. – slide 3
    Transaction Strengthens Our Company, Deepens Our Portfolio SOLIDIFIES PERMIAN 18,000 contiguous net acres in the Delaware Basin (90% operated) FOCUS Deepens decade-long inventory of high rate-of-return oil locations HIGHER OPERATING…
  4. Permian Basin Acquisition – Callon Petroleum Co. – slide 4
    A Leading Permian Position CONTIGUOUS TO EXISTING CORE DELAWARE POSITION Acquired operated 18k net acres in Ward, Winkler & Loving counties (92% operated) Acquired non-operated Includes 1.5k net non-op acres with ConocoPhillips and…
  5. Permian Basin Acquisition – Callon Petroleum Co. – slide 5
    Improved Efficiencies and Higher FCF Outlook Transaction is Accretive to Key Metrics1 Transaction Side-By-Side 2023E PF 2024 Eagle Ford Delaware (Six-month) (FY impact) Sale Acq. ADJ. FCF +15% +55% ESTIMATED PRODUCTION 16.3 14.1…
  6. Permian Basin Acquisition – Callon Petroleum Co. – slide 6
    Transaction Strengthens Capital Structure Sources (in MM) Uses (in MM) DELAWARE BASIN TRANSACTION DETAILS 6.46MM shares issued at closing, subject to reduction EF Divestiture 655 Callon Debt Reduction 310 If 20-day VWAP at closing is…
  7. Permian Basin Acquisition – Callon Petroleum Co. – slide 7
    Commencing Shareholder Return Program INITIATING SHARE REPURCHASE PROGRAM AT CLOSING 1 300MM Launching 3Q23, pending close of transactions Two-year program through 2Q25 BUYBACK Represents 15% of equity market cap2 USES OF…
  8. Permian Basin Acquisition – Callon Petroleum Co. – slide 8
    Permian Focus Enhances Outlook 2023 GUIDANCE Status Quo Pro Forma PRODUCTION & OIL MIX IN LINE WITH 2023 2023 PREVIOUS GUIDANCE Total (MBoe/d) 104 107 103 106 REDUCED CAPITAL SPENDING OUTLOOK Oil (MBbls/d) 63 65 62 64 Lease…
  9. Permian Basin Acquisition – Callon Petroleum Co. – slide 9
    A Stronger Callon FOCUSED PERMIAN OPERATIONS WITH SCALE ENHANCED CAPITAL STRUCTURE DECADE-PLUS PREMIUM INVENTORY LOWER COSTS, HIGHER MARGINS 1 LAUNCHING SHAREHOLDER RETURN PROGRAM IN 3Q23 1. 300MM share repurchase…

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