Deal Insight
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
-
Strategic rationale
- 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:
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