Fred Callon, CEO, and Gary Newberry, VP of Operations of Callon Petroleum Company (NYSE: CPE) presented at the Oil and Gas Conference 18® on August 12, 2013.
Callon is an oil and gas exploration and production company in the process of transitioning from offshore assets to being a Permian Basin operator. Callon’s Permian Basin operations are focused primarily in the Midland Basin.
The company averaged production of 3,615 BOEPD in its second quarter 2015 results, with 1,869 BOEPD coming from its Permian operations. Its capital expenditures for the remainder of 2013 are expected to be $170 million.
During the breakout session management was asked the following questions:
- What is the timing and price you are looking for on the Medusa Field?
- How long is your Permian drilling inventory?
- You are talking about Spraberry being a potential target in your northern properties, is that with vertical or horizontal wells?
- How would you test for the Spraberry in your northern properties?
- Have you taken into account Diamondback’s completion which used the same lbs. of sand but in fewer stages?
- Who is your second rig from and does it have walking capability?
- What is your priority on your use of proceeds from your senior notes call?
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