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.
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