Callon Petroleum to Sell Noncore Eagle Ford Acreage for $100 Million

Separately, Callon Petroleum also announced the closing of its acquisition of Primexx Energy Partners in the Delaware Basin plus a boost to its production forecast.

Callon Petroleum to Sell Noncore Eagle Ford Acreage for $100 Million

Callon Petroleum first entered the Eagle Ford Shale in 2019 through its all-stock acquisition of Carrizo Oil & Gas.  (Source: Hart Energy)

Upon closing of the Primexx Energy Partners acquisition that boosted its production outlook, Callon Petroleum Co. tacked on a $100 million cash sale in the Eagle Ford Shale.

The divestiture of the Eagle Ford properties to an undisclosed buyer include approximately 22,000 net acres in northern La Salle and Frio counties, Texas. Net daily production from the properties, which Houston-based Callon said were noncore, was approximately 1,900 boe/d (66% oil) on average in the third quarter.

Callon first entered the Eagle Ford Shale in 2019 through an all-stock acquisition of Carrizo Oil & Gas. The company holds about 73,000 net acres producing 27,000 boe/d in the Eagle Ford, according to a recent company presentation.

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Emily Patsy

Emily Patsy is the senior managing editor for Hart Energy’s Digital News Group. She's responsible for the daily news flow and also manages the A&D Watch and Energy Pulse weekly newsletters.