Thursday, December 26, 2024

The Metrics of Callon’s $260-Million Portfolio Shuffle and Trade

Ranger operating area sold By Richard Rostad, analyst, Oil & Gas 360 Callon Petroleum brought activity to a slow U.S. M&A market yesterday, shuffling its Permian portfolio in several deals. Callon has agreed to divest its non-core Midland Basin properties for $260 million in cash, plus up to $60 million in contingent payments. The company is selling its Ranger operating