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Callon acquires 29,000 Delaware Permian acres from Cimarex for US$570 million

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30 May 2018

Callon acquires 29,000 Delaware Permian acres from Cimarex for US$570 million

Report summary

Callon is buying 29,000 net acres in the Permian's Delaware Basin from Cimarex for US$570million. This asset boasts flowing production of roughly 6,800 boe/d. The vast majority of acquired acreage is adjacent to Callon's Spur operating area in Ward County, Texas, with the rest in Loving and Winkler counties, Texas. Callon builds contiguous, held-by-production acreage in its core operating area while Cimarex sells what it considers to be a non-core asset in its portfolio. Callon's pro-forma Permian position spans over 86,000 net acres, putting the company on the same scale as Jagged Peak, Centennial, and RSP Permian.

Table of contents

  • Executive summary
  • Transaction details
  • Upstream assets
  • Deal analysis
  • Upsides and risks
    • Callon
    • Cimarex
  • Oil & gas pricing and assumptions

Tables and charts

This report includes 10 images and tables including:

  • Executive summary: Table 1
  • Upstream assets: Table 1
  • Deal analysis: Table 1
  • Deal analysis: Table 2
  • Deal analysis: Table 3
  • Deal analysis: Table 4
  • Deal analysis: Table 5
  • Callon's operated wells with newly acquired asset
  • Oil & gas pricing and assumptions: Table 1
  • Oil & gas pricing and assumptions: Table 2

What's included

This report contains:

  • Document

    Callon acquires 29,000 Delaware Permian acres from Cimarex for US$570 million

    PDF 1002.09 KB

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