Callon Petroleum to Acquire Primexx to Build upon Delaware Basin Foundation and Accelerate Value Creation for Shareholders

PRNewswire

Aug 04, 2021

Consolidates oil-weighted, high-margin Delaware Basin assets at an attractive valuation

Accelerates deleveraging, reaching < 2x net debt / adjusted EBITDA sooner, pulling forward the timetable for potential shareholder returns

Agreement with Kimmeridge to exchange Second Lien Senior Notes for common shares provides additional near-term deleveraging

Combined transactions are accretive on key financial metrics (OCFPS, FCFPS, ROCE, CROCI) and provide a meaningfully enhanced multi-year cash flow profile

PR Newswire

HOUSTON, Aug. 4, 2021

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