The basin is deeper, gassier, more geologically complex and more remote than the Midland Basin to the east. But the Delaware is too sweet of a prize to pass up for many of the nation’s top oil and gas producers.
This Permian producer has reportedly attracted takeover interest invezz.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from invezz.com Daily Mail and Mail on Sunday newspapers.
Callon Petroleum (CPE) said it has reduced its outstanding debt by ~$300M to less than $2B, and plans to repurchase the first shares under its new two-year, $300M stock buyback program in Q3
Callon’s exit from the Eagle Ford Shale will refocus the E&P as a Permian pure-play and should help reduce debt and return capital to investors, analysts say.