Houston-based Callon Petroleum Co. expects to control more than 110,000 net acres in the Permian Basin’s Delaware formation after clinching an estimated $788 million cash-and-stock deal to buy private explorer Primexx Energy Partners Ltd. Primexx, headquartered in Dallas, has around 35,000 net acres in the Delaware sub-basin within Reeves County in West Texas. The partnership…
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Houston-based Callon Petroleum Co., whose portfolio stretches across the Permian Basin’s two major formations and across the Eagle Ford Shale, reduced costs and delivered “near-term economic returns” at current strip prices during the third quarter, the CEO said. Net production jumped 170% to 102,000 boe/d year/year, above expectations, while capital spending was $38 million, below…
If there are any exploration and production companies that are stepping up activity in the Lower 48 today, they’ve yet to step forward, as operators have pulled back, shut in and cut off funding to some of the most prized assets.
Permian Basin pure-play Callon Petroleum Co. may have saved its takeover of Texas rival Carrizo Oil & Gas Inc. after reducing the offer of the all-stock deal, as a major shareholder now supports the new terms.
Permian Basin pure-play Callon Petroleum Co., which is in a battle with major shareholders over plans to expand its focus with the takeover of Carrizo Oil & Gas Inc., expects third quarter production to average 37,500-37,900 boe/d, 78% weighted to oil.
Houston-based Callon Petroleum Co. on Thursday went on the defense after a major shareholder slammed its planned takeover of Carrizo Oil & Gas Inc.
One of Callon Petroleum Co.’s major shareholders said it plans to vote against the proposed acquisition of Carrizo Oil & Gas Inc. and is urging the board to instead pursue a sale.
Houston-based Callon Petroleum Co.’s board has approved the acquisition of Carrizo Oil & Gas Inc., adding Eagle Ford Shale-centered assets to Callon’s portfolio.
Permian Basin pure-play Callon Petroleum Co. continued its transition to larger pads and brought its largest project to date online during the first quarter, while also delineating its acreage and reducing drilling and completion (D&C) costs.