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OFFON

CALLON PETROLEUM COMPANY

(CPE)
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Callon Petroleum : Latest Presentation

07/13/2021 | 07:03am EDT

THE INTEGRATED APPROACH TO OUR "LIFE OF FIELD"

DEVELOPMENT PHILOSOPHY

July 13, 2021 - DUG PERMIAN CONFERENCE

CALLON PETROLEUM - ASSET AND COMPANY OVERVIEW

COMPLIMENTARY ASSET PORTFOLIO

  • Multi-basinexposure allows for diversification, mitigating basin specific operational and pricing risk
  • Meaningful scale in each area enhances the ability to generate and retain operational / capital efficiency
  • Rotational development allows for data capture which enhances the integrated workflow and continuous evaluation process

KEY STATISTICS

Total Net Acres

~180,000

1Q21 Total Production (Mboe/d)

81.0

1Q21 Oil Production (MBbl/d)

52.0

Market Cap1 ($BN)

$2.5

Enterprise Value1 ($BN)

$5.4

Midland Basin:

Mid-cycleco-development of high return multi-zone inventory

Delaware Basin: Long-term growth driver shifting

into development modeEagle Ford Shale:

Highly efficient cash flow machine with repeatable, low-risk inventory

1. Market capitalization and enterprise value as of market close on July 9, 2021

2

LIFE OF FIELD DEVELOPMENT PHILOSOPHY

CRITICAL CONCEPTSASSET POSITIONS

Multi-interval development reduces

700 Miles

likelihood of "uneconomic" child

wells and future inventory loss

Development Intervals are

WSW

ENE

evaluated on an individual and

project level basis to design custom drilling and completion programs that optimize recoveries and economic returns

  • Longer-termdevelopment plans are continuously refined as new data enters the evaluation cycle

3

A MULTIDISCIPLINARY APPROACH TO ASSET DEVELOPMENT

RESERVOIR DEVELOPMENT OPTIMIZATION

  • Fundamental understanding of stratigraphy, geo- mechanical and reservoir properties
  • Integration of production and reservoir data into a geologic model to enable reservoir performance modelling
  • Geo-mechanicalproperties, reservoir performance data to enable frac modelling, lateral placement and spacing optimization

PAD DEVELOPMENT AND PROGRAM OPTIMIZATION

  • Flexible development program that can respond to changing market conditions
  • Assets ranked by production and reserve potential, economic parameters, and pricing sensitivity.
  • Inventoried and classified to serve changing needs

Calls for a holistic and

multidisciplinary approach.

4

INTEGRATED MULTI-DISCIPLINE WORKFLOW

Model Update (feedback from completion and simulation)

State of Stress

DFIT/ Sonic/ Core

Completion Monitoring

Modeling

Completion

Optimization for New Well

Fracture

Modeling

Petrophysics

Φ,k, Sw, …

Geoscience

ModelingGeomechanics

(PR, YME, Stress)

3D Geo-model incl.

Structure and

Geomechanics

Dynamic Model

Construction/Calibration

Well spacing optimization

Reservoir Modeling

Production

depletion analysis

Forecast

Sensitivity/Uncertainty

Depletion Model to Update

Geomechanic for New

Analysis

Completion

5

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

Callon Petroleum Company published this content on 13 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 July 2021 11:02:03 UTC.


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Financials (USD)
Sales 2021 1 540 M - -
Net income 2021 166 M - -
Net Debt 2021 2 936 M - -
P/E ratio 2021 14,2x
Yield 2021 -
Capitalization 1 977 M 1 977 M -
EV / Sales 2021 3,19x
EV / Sales 2022 2,30x
Nbr of Employees 303
Free-Float 97,6%
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Mean consensus HOLD
Number of Analysts 12
Last Close Price 42,70 $
Average target price 49,19 $
Spread / Average Target 15,2%
EPS Revisions
Managers and Directors
Joseph C. Gatto President, Chief Executive Officer & Director
Kevin E. Haggard Chief Financial Officer & Senior Vice President
L. Richard Flury Non-Executive Chairman
Jeffrey Scott Balmer Chief Operating Officer & Senior Vice President
Larry D. McVay Independent Director
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