M&A Deal Summary

Callon Petroleum Acquires Percussion Petroleum II

On May 3, 2023, Callon Petroleum acquired oil/gas exploration company Percussion Petroleum II from Carnelian Energy Capital for 475M USD

Acquisition Highlights
  • This is Callon Petroleum’s 3rd transaction in the Oil/Gas Exploration sector.
  • This is Callon Petroleum’s 2nd largest (disclosed) transaction.
  • This is Callon Petroleum’s 3rd transaction in the United States.
  • This is Callon Petroleum’s 2nd transaction in Texas.

M&A Deal Summary
Date 2023-05-03
Target Percussion Petroleum II
Sector Oil/Gas Exploration
Buyer(s) Callon Petroleum
Sellers(s) Carnelian Energy Capital
Deal Type Add-on Acquisition
Deal Value 475M USD

Target

Percussion Petroleum II

Houston, Texas, United States
Percussion Petroleum II is an oil and gas company that focuses on acquisition and development opportunities in select onshore basins in North America. Percussion Petroleum II is based in Houston, Texas.

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Buyer(S) 1

Buyer

Callon Petroleum

Houston, Texas, United States
Category Company
Founded 1950
Sector Oil/Gas Exploration
Revenue 3.2B USD (2022)
DESCRIPTION

Callon Petroleum is an independent energy company focused on the acquisition, development, exploration, and operation of oil and gas properties in the Permian Basin in West Texas. Callon Petroleum was incorporated in 1950 and is based in Houston, Texas.

DEAL STATS #
Overall 3 of 3
Sector (Oil/Gas Exploration) 3 of 3
Type (Add-on Acquisition) 2 of 2
State (Texas) 2 of 2
Country (United States) 3 of 3
Year (2023) 1 of 1
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-07-15 Carrizo Oil & Gas

Houston, Texas, United States

Carrizo Oil & Gas, Inc. is an independent energy company focused on the acquisition and development of unconventional onshore oil and natural gas reserves in the Permian Basin in West Texas. Carrizo Oil & Gas, Inc. was formed in 1993 and is headquartered in Houston, Texas.

Buy $3.2B

Seller(S) 1

SELLER

Carnelian Energy Capital

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2015
PE ASSETS 1.8B USD
Size Large
Type Sector Focused
DESCRIPTION

Carnelian Energy Capital is a private investment firm focused on the North American upstream, midstream, and oilfield services sectors of the energy sector. Carnelian Energy Capital was established in 2015 and is headquartered in Houston, Texas.

DEAL STATS #
Overall 3 of 3
Sector (Oil/Gas Exploration) 3 of 3
Type (Add-on Acquisition) 3 of 3
State (Texas) 3 of 3
Country (United States) 3 of 3
Year (2023) 2 of 2
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-02-14 Driftwood Energy

Dallas, Texas, United States

Driftwood Energy is an independent oil and natural gas company that focuses on acquiring, developing, and operating unconventional properties in the Permian Basin. Driftwood Energy is based in Dallas, Texas.

Sell $128M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-01-09 Parallax Energy

Calgary, Alberta, Canada

Parallax Energy is an exploration & production company focused on acquiring and developing high-quality assets in the Western Canadian Sedimentary Basin. Parallax Energy is based in Calgary, Alberta.

Buy -
Mergr

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