Exhibit 99.4
CONSENT OF RBC CAPITAL MARKETS, LLC
The Board of Directors
Carrizo Oil & Gas, Inc.
500 Dallas Street, Suite 2300
Houston, Texas 77002
The Board of Directors:
We understand that Carrizo Oil & Gas, Inc. (the Company) has determined to include our opinion letter (the Opinion), dated November 13, 2019 to the Board of Directors of the Company in the supplement to the joint proxy statement/prospectus which forms a part of the Registration Statement (File No. 333-233366) on Form S-4 (as amended, the Registration Statement) of Callon Petroleum Company (Callon), such supplement included in the Current Report on Form 8-K of Callon filed on November 18, 2019.
In connection therewith, we hereby consent to the inclusion of our Opinion as Annex C thereto, and references thereto under the headings Update to Risk Factors; Update to the MergerBackground of the Transaction; Update to the MergerRecommendation of the Carrizo Board and Reasons for the Merger; Update to the MergerCertain Carrizo Unaudited Prospective Financial and Operating Information; and Update to the MergerOpinions of Carrizos Financial AdvisorsOpinion of RBC Capital Markets, LLC solely for purposes of incorporation by reference into the joint proxy statement/prospectus which forms a part of the Registration Statement. In addition, this consent is provided solely for purposes of incorporation by reference into the Registration Statement as an exhibit thereto. By giving such consent, we do not thereby admit that we are experts with respect to any part of such Registration Statement within the meaning of the term expert as used in, or that we come within the category of persons whose consent is required under Section 7 of the Securities Act of 1933, as amended, or the rules and regulations of the Securities and Exchange Commission promulgated thereunder.
Very truly yours,
/s/ RBC Capital Markets, LLC
RBC CAPITAL MARKETS, LLC
November 18, 2019