Current CPE Stock Info

On September 2, 2014 we reported on the acquisition of 6,230 gross acres (3,862 net) in the Midland Basin area of the Permian Basin by Callon Petroleum Company (ticker: CPE). The properties were purchased for $212.6 million in cash and are near CPE’s existing operations in Carpe Diem and Pecan Acres in Midland County, Texas. The sale is effective May 1, 2014 and the company will assume operatorship upon closing of the transaction, which is expected to occur in early October 2014.

The company’s strategic rationale for the acquisition includes t...

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