Current CPE Stock Info

Consolidation continues in the Permian, with Callon Petroleum (ticker: CPE) purchasing $570 million in assets Thursday.

Callon intends to acquire 28,657 net acres in the Delaware, primarily in Ward and Loving Counties, from Cimarex Energy (ticker: XEC). This acreage is partially contiguous with Callon’s assets in the Delaware, and is all at least nearby. Over 90% of the new acreage is held by production, so Callon will be able to develop it as it sees fit.

Acquired Acreage, May 2018

The assets are currently producing 6,381 BOEPD, 73% o...

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