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PS - Callon Petroleum Highlights - October 30, 2019

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Callon Petroleum expects to report Q3 production of 37,500- 37,900 boe/d (78% oil). At midpoint, this would be a decrease of 7% sequentially. Callon dropped down to four rigs from six by the end of Q2 and is running a single completion crew. Lease operating expenses for Q3 fell to a range of $5.60-$5.80/boe compared to $6.18/boe in Q2. Operational capex is expected to range $114-118 million, which is in line with projected full-year......
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