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.

Callon Petroleum, Texas, Permian, Midland Basin, Wolfcamp, shale, Crockett, Upton, Lantana, Map

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;
  • 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.