BRIEF-Callon To Acquire Core Delaware Basin Assets And Exit Eagle Ford

Callon Petroleum Co: * CALLON TO ACQUIRE CORE DELAWARE BASIN ASSETS AND EXIT EAGLE FORD

* CALLON PETROLEUM CO - PROPOSED DEAL FOR CASH AND STOCK TRANSACTION VALUED AT APPROXIMATELY $475 MILLION AND POTENTIAL CONTINGENT PAYMENTS OF UP TO $62.5 MILLION * CALLON PETROLEUM CO - COMPANY TO LAUNCH $300 MILLION SHARE BUYBACK AT CLOSING OF DEAL

* CALLON PETROLEUM CO - UNDER TERMS OF AGREEMENT, PERCUSSION WILL RECEIVE $265 MILLION OF CASH AND A MAXIMUM OF 6.46 MILLION SHARES OF CALLON COMMON STOCK * CALLON PETROLEUM CO - TO SELL ASSETS IN EAGLE FORD SHALE TO RIDGEMAR FOR $655 MILLION IN CASH AND POTENTIAL CONTINGENT PAYMENTS OF UP TO $45 MILLION

* CALLON PETROLEUM - CONTINGENT UPON DEAL CLOSE, AUTHORIZED STOCK REPURCHASE PROGRAM OF UP TO $300 MILLION OF CO'S OUTSTANDING COMMON STOCK THROUGH Q2 2025 Source text for Eikon: Further company coverage:

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