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Post# of 2020
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catdaddyrt

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catdaddyrt

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Tuesday, 12/13/2016 5:32:29 PM

Tuesday, December 13, 2016 5:32:29 PM

Post# of 2020


Callon Petroleum (NYSE:CPE) -2.8% AH after agreeing to acquire undeveloped acreage and producing oil and gas properties in west Texas from American Resource Development for $615M.

The deal marks CPE's initial entry into the Delaware Basin, with properties currently producing 1,945 boe/day (71% oil), including production from 20 gross operated horizontal wells producing from the Wolfcamp and Bone Spring formations.

To help fund the deal, CPE launches a 34M-share public offering, with an underwriters option to purchase up to an additional 5.1M common shares.

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  • 6M
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