Callon Petroleum Company is an independent oil and natural gas company. The Company is engaged in the exploration, development, acquisition and production of oil and natural gas properties. The Company’s activities are primarily focused on horizontal development in the Midland and Delaware Basins, both of which are part of the Permian Basin in West Texas, as well as the Eagle Ford in South Texas. The Company’s primary operations in the Permian reflect a high-return, oil-weighted drilling inventory with multiple prospective horizontal development intervals and are complemented by a repeatable cash flow-generating business in the Eagle Ford. Its Permian basin consists of approximately 8,800 net acres and the Midland and Delaware Basins consists of approximately 75,000 net acres.