Deal Insight
Callon acquires 29,000 Delaware Permian acres from Cimarex for US$570 million
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*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
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
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Strategic rationale
- Callon
- Cimarex
- Oil & gas pricing and assumptions
Tables and charts
This report includes the following images and tables:
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Executive summary: Table 1Upstream assets: Table 1Deal analysis: Table 1
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Deal analysis: Table 2Deal analysis: Table 3Deal analysis: Table 4Deal analysis: Table 5Callon's operated wells with newly acquired assetOil & gas pricing and assumptions: Table 1Oil & gas pricing and assumptions: Table 2
What's included
This report contains:
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