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Permian Basin Oil and Gas Magazine

PBOG is the Official Publication of the Permian Basin Petroleum Association and is published monthly by Zachry Publications, LP.

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Callon Petroleum expands development after successful well in Ward County

September 19, 2023 by PBOG

Houston-based Callon Petroleum said recently it expanded its development area in third Bone Spring shale following a recent successful well in Ward County.  The well is outperforming expectations and is Callon’s highest-performing completion in the formation, according to Joseph Gatto, president and CEO.  The well was completed with a lateral of 9,721 feet and delivered an initial 30-day rate of 944 boed (82 percent oil).

Based on the results, Callon is evaluating acceleration of the third Bone Spring shale into its near-term drilling inventory.  Additional wells are planned this year.  Callon entered 2023Q3 running 7 drilling rigs, including 5 in Delaware Basin and 1 in Midland Basin.

Gatton added Aug. 2, “The second quarter highlighted the contributions from several large-scale projects across the Permian Basin combined with improvements in our cash operating structure and efficiencies in our capital spending program.”  2Q production was 107,000 boed (59 percent oil) – in line with guidance – with 32 gross wells turned inline.

 

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