Callon Petroleum Company (Callon) is an independent oil and natural gas company. It is focused on growing production and reserves from its oil-weighted multi-play assets in the Permian Basin. In 2013, the Company shifted its operations from the offshore waters in the Gulf of Mexico to the onshore, Permian Basin region in Texas. The Company operates 100% of its Permian acreage. As of December 31, 2013, the Company�s proved reserves were 14.9 million barrels of oil equivalent (80% oil and 50% proved developed).