Callon Petroleum Company (Callon) is an independent oil and natural gas company. Callon is engaged in the exploration, development, acquisition and production of oil and natural gas properties. It is focused on growing production and reserves from its oil-weighted multi-play assets in the Permian Basin. The Company�s operations are in onshore, Permian Basin region in Texas. The Company operates 100% of its Permian acreage. The Company�s wholly owned subsidiary includes Callon Petroleum Operating Company (CPOC). The Company has an area of 1,527 net acres in Upton and Reagan Counties, Texas, which are located in the southern portion of the Midland Basin near its existing core development fields. The properties bear a working interest of 100% and an average net revenue interest of 78%. The Company has an average Permian production of approximately 3,611 barrel of oil equivalent per day (BOE/d), which includes approximately 84% oil.