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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