In a transaction valued at USD 3.2 billion (including a stock transfer, assumption of long-term debt and preferred shares), Callon Petr will take over / merge with fellow Houston-based shale player Carrizo O&G, increasing their positions in the Permian (particularly Delaware Basin) and Eagle Ford areas. The new company will be held by Callon and Carrizo shareholders on a 54:46 basis. Companiesâ combined prod for Q1 â19 was 102,300 boe/d (71% oil).
Callon Petroleum is taking over fellow US shale player Carrizo Oil & Gas in a deal worth US$3.2 billion. The combined company will have more than 200,000 net acres in the Permian basin and Eagle Ford shale.