Callon Petroleum Co. (NYSE: CPE) is offering for sale a leasehold position in the Southern Midland Basin's horizontal Wolfcamp Play.
The offering includes operated, HBP leasehold mainly in Crockett County, Texas, and leasehold operated by Apache Corp. (NYSE: APA) in Upton County, Texas.
Lantana Energy Advisors is handling the sale for Callon, based in Natchez, Miss.
Highlights:
- 1,785 gross (1,205 net) total acres;
- Block 5 operated leasehold;
- 1,625 gross (1,114 net) acres in Crockett;
- Opal nonoperated leasehold;
- 160 gross (91 net) acres in Upton;
- Operated by Apache;
- Block 5 operated leasehold;
- Production in May was 156 gross (66 net) barrels of oil equivalent per day (boe/d);
- 116 gross (47 net) barrels per day of oil;
- 242 gross (110 net) thousand cubic feet per day of gas;
- Net average monthly operating cash flow of $45,826 from June 2015 to May;
- Proved developed reserves (with $3 million PV-10 value) are 253 Mboe;
- Proven (1P) reserves (with $18.62 million unrisked PV-10 value) total 6,880 Mboe.
The leasehold has an estimated net monthly operating cash flow of $121,358 at $50 oil and $3 gas, Lantana said.
For information visit lantanaog.com or contact David G. Nini, managing director for Lantana, at 713-426-9001.
Recommended Reading
Baker Hughes Awarded Saudi Pipeline Technology Contract
2024-04-23 - Baker Hughes will supply centrifugal compressors for Saudi Arabia’s new pipeline system, which aims to increase gas distribution across the kingdom and reduce carbon emissions
President: Financial Debt for Mexico's Pemex Totaled $106.8B End of 2023
2024-02-21 - President Andres Manuel Lopez Obrador revealed the debt data in a chart from a presentation on Pemex at a government press conference.
From Restructuring to Reinvention, Weatherford Upbeat on Upcycle
2024-02-11 - Weatherford CEO Girish Saligram charts course for growth as the company looks to enter the third year of what appears to be a long upcycle.
TechnipFMC Eyes $30B in Subsea Orders by 2025
2024-02-23 - TechnipFMC is capitalizing on an industry shift in spending to offshore projects from land projects.
NOV's AI, Edge Offerings Find Traction—Despite Crowded Field
2024-02-02 - NOV’s CEO Clay Williams is bullish on the company’s digital future, highlighting value-driven adoption of tech by customers.