Callon entered the Permian Basin in 2009 with the acquisition of approximately 8,800 net acres for $16 million. In 2019, we completed our merger with Carrizo Oil & Gas which expanded our core footprint across the Permian Basin. Today, through continued execution of our acquisition, delineation, and rationalization strategies, we focused our footprint on approximately 145,000 net acres in the Delaware and Midland Basins.
Our size allows us to efficiently pivot our business and capitalize on new opportunities. As a company operating the majority of our acreage, we have the flexibility to modify development plans to appropriately address continuously changing industry conditions and commodity price cycles. We have also proven our ability to move quickly to capitalize on opportunities to acquire new acreage and integrate into our operations, positioning us for additional consolidation of assets in the future.