Callon Petroleum Company

Callon Petroleum Company, an independent oil and natural gas company, is a publicly traded company on the New York Stock Exchange under the ticker symbol CPE. The company was established in 1950 and is headquartered in Houston, Texas. The company focuses on the exploration and development of oil and natural gas properties in the Permian Basin in West Texas. Its estimated net proved reserves as of December 31, 2021, totaled approximately 484.6 million barrels of oil equivalent, including 290.3 million barrels of oil, 577.3 billion cubic feet of natural gas, and 98.1 million barrels of natural gas liquids.

The company engages in various operational activities, including acquisitions, divestitures, drilling, completion and development activities and production of oil and natural gas, as well as gathering pipeline services. In 2021, Callon Petroleum Company bought out Seventy Seven Energy, Inc. for $2.2 billion, significantly expanding the company’s holdings and presence in the Permian Basin. The company utilizes advanced technologies to improve the efficiency and reduce the cost of its operations. It has employed various methods such as horizontal drilling, hydraulic fracturing and multilateral well completion techniques to increase production from its assets.

Callon Petroleum Company’s total production for 2021 amounted to approximately 13.8 million barrels of oil equivalent, with 90% of it coming from oil and natural gas liquid production. The company completed 42 gross wells in 2021, and has implemented a strategy of creating value by focusing on conventional and unconventional resource plays supported by efficient operations and technology.

The company is focused on creating long-term value for its shareholders by delivering reliable operating performance and increasing production in a manner that is both cost effective and environmentally responsible. It has no debt maturing in the near term and believes it has adequate liquidity to meet its obligations. Callon Petroleum Company has also increased its focus on ESG (environmental, social, and governance) initiatives, recently joining the Carbon Disclosure Project, which is committed to measuring and disclosing greenhouse gas emissions across the globe.