Callon Petroleum announces closing of Delaware Basin acquisition

Callon Petroleum announced that it closed its previously announced acquisition of Delaware Basin assets from Percussion Petroleum Operating II and the sale of its Eagle Ford assets to Ridgemar Energy Operating on July 3, 2023. “We are excited to announce the completion of another important strategic move for Callon and its shareholders. Through these two transactions, we have created a singular focus on the Permian Basin, reduced our absolute debt position, and kicked off a shareholder return plan,” said Joe Gatto, President and CEO. “The bolt-on Percussion transaction improves our Delaware inventory depth and also lowers our cost structure. I would like to thank everyone at Callon, Percussion, and Ridgemar for their efforts to close these transactions.”