Houston-based Callon Petroleum said last month it expects to produce 102,000 to 105,000 boed (63 percent oil) in Q3 with 38-to-42 gross wells placed on production with operating expenses between $245 million and $255 million. Callon said Aug. 3 currently it operates 6 rigs – 3 in Delaware Basin, 2 in Midland Basin and 1 rig in Eagle Ford which will be dropped “in the coming days.” Callon plans to utilize 2 or 3 completion crews in Q3.
For fullyear 2023, Callon is increasing bottom end of production guidance to 102,000 to 105,000 boed (63 percent oil) to reflect Permian well performance that is above expectations and an increase in natural gas and NGL volumes from Midland Basin. Production for Q2 was 100.7 boed (61 percent oil).