These non-operated, onshore royalty and mineral interests represent less than 2% of Callon’s estimated current net proved reserves and are widely dispersed in 15 different states throughout US. Production, net to Callon, from the properties being sold is approximately 420 barrels of oil equivalent per day.
Proceeds from the sale will be used to strengthen the company’s balance sheet and provide additional liquidity for the development of Callon’s Gulf of Mexico deepwater fields.
