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May 19, 2014
04:55 EDTCPE, CPECallon Petroleum management to meet with Sterne Agee
Meeting to be held in Kansas City, MO on May 22 hosted by Sterne Agee.
News For CPE From The Last 14 Days
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September 2, 2014
07:32 EDTCPECallon Petroleum to host conference call
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07:03 EDTCPECallon Petroleum announces $213M Midland Basin acquisition
Callon Petroleum announced it has entered into definitive agreements with private entities to acquire certain undeveloped acreage and oil and gas producing properties located in Midland, Andrews, Martin and Ector Counties, Texas for an approximate aggregate price of $212.6M in cash, subject to customary purchase price adjustments with an effective date of May 1. Key attributes of the acquired fields include: 6,230 gross surface acres, 95% of which are located in Midland and Andrews Counties, in close proximity to the Company's existing Carpe Diem and Pecan Acres fields in Midland County; 188 gross potential horizontal drilling locations targeting the Wolfcamp B, Lower Spraberry and Middle Spraberry zones which are currently producing in offsetting fields; 252 gross additional potential horizontal drilling locations targeting four other prospective zones, including the Wolfcamp A, Wolfcamp D, Clearfork and Jo Mill 1,465 Boe/d estimated average net daily production during the second quarter of 2014 4M Boe of net proved developed producing reserves as of June 30, 2014 based on internal Callon estimates; 100% of targeted horizontal zones held by production. The pending acquisition is expected to close in early October 2014, and is subject to the completion of customary due diligence and closing conditions. In connection with the acquisition, the company has secured a commitment for a term loan facility in an amount up to $275M and an amended revolving credit facility with an initial borrowing base of $250M.

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