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WEDNESDAY, AUGUST 05, 2015

Operations

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We entered the Permian Basin in 2009 with the acquisition of approximately 8,800 net acres for $16 million. Through focused execution of our acquisition and leasing strategy, we have increased our footprint to near 19,000 acres in the core of the Midland Basin, on which we have approximately 40 years of drilling inventory across the multiple stacked zones. Callon is currently running two horizontal drilling rigs focused in Midland, Upton and Reagan Counties, focused on efficient pad development of our captured resource base.

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