Houston’s APA Corp., which in recent years has pursued overseas oil and gas prospects, is storming back to the Permian Basin with a $4.5 billion all-stock takeover of Callon Petroleum Co. APA, long a Permian exploration and production (E&P) stalwart, already has a broad portfolio in the Midland and Delaware formations. In the Delaware, where…
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Callon Raising Natural Gas Price Exposure at HSC, Reducing Waha
Recent Permian Basin natural gas pipeline marketing deals will reduce Callon Petroleum Corp.’s reliance on Waha Hub pricing, management of the Texas-focused independent said earlier this month. “These transactions will increase our pricing exposure to Gulf Coast gas pricing and provide additional flow assurance benefits,” CEO Joe Gatto told analysts during the second quarter earnings…
August 25, 2022
Inflation in the Oil Patch Behind Budget Increase for Callon Petroleum
Texas independent Callon Petroleum Co. has revised its 2022 spending plans upward, citing higher than expected inflation in oilfield services (OFS) costs. Houston-based Callon has updated its operational capital budget to a range of $790 million to $810 million for the full year, up from previous guidance of $725 million published in February. Production guidance…
June 7, 2022
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