Callon Petroleum purchases Permian Basin oil company

Callon Petroleum Company Announces First Quarter 2023 Results :: Callon  Petroleum Company (CPE)


Another Permian Basin merger has gone down as Callon Petroleum announced a $475 million cash-and-stock deal to acquire Percussion Petroleum Operating II LLC.

The deal will add about 18,000 net acres and approximately 70 high-return well locations in the Permian, Callon said in the announcement. The deal also includes potential contingent payments of up to $62.5 million to Percussion reported Reuters.

Click here for Reuters