Market Summary
USD36.83-2.29
Market Closed-5.85%
CPE Stock Price
CPE RSI Chart
CPE Valuation
CPE Price/Sales (Trailing)
CPE Profitability
CPE Fundamentals
CPE Revenue
CPE Earnings
Price Action
52 Week Range
28.9150.19
(Low)(High)
Last 7 days
-3.4%
Last 30 days
-9.5%
Last 90 days
4.8%
Trailing 12 Months
5.2%
CPE Financial Health
CPE Investor Care
Historical Charts for Stock Metrics
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Net sales
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Latest Insider Trading transactions for CPE
Filter Transactions| Datesorted ascending | Name | Buy/Sell | $ Value | Avg. Price | # Shares | Title |
|---|---|---|---|---|---|---|
2023-05-31 | WEBSTER STEVEN A | bought | 225,175 | 30.495 | 7,384 | - |
2023-05-12 | WEBSTER STEVEN A | bought | 302,450 | 30.245 | 10,000 | - |
2023-05-11 | WEBSTER STEVEN A | bought | 302,400 | 30.24 | 10,000 | - |
2023-05-10 | WEBSTER STEVEN A | bought | 613,280 | 30.664 | 20,000 | - |
2023-05-09 | WEBSTER STEVEN A | bought | 632,600 | 31.63 | 20,000 | - |
2023-04-26 | FLURY L RICHARD | acquired | - | - | 3,055 | - |
2023-04-26 | TRIMBLE JAMES M | acquired | - | - | 3,055 | - |
2023-04-26 | Bob Matthew Regis | acquired | - | - | 3,055 | - |
2023-04-26 | WEBSTER STEVEN A | acquired | - | - | 3,055 | - |
2023-04-26 | Nocchiero Anthony J | acquired | - | - | 3,055 | - |
Which funds bought or sold CPE recently?
View All Details| Datesorted ascending | Fund Name | Type | % Chg | $ Change | $ Held | % Portfolio |
|---|---|---|---|---|---|---|
2023-09-20 | BARCLAYS PLC | added | 75.46 | 2,102,000 | 4,604,000 | -% |
2023-08-24 | Alberta Investment Management Corp | sold off | -100 | -234,548 | - | -% |
2023-08-23 | WOLVERINE TRADING, LLC | reduced | -15.7 | -221,100 | 1,704,900 | -% |
2023-08-22 | US Asset Management LLC | sold off | -100 | -89,000 | - | -% |
2023-08-22 | VIRGINIA RETIREMENT SYSTEMS ET AL | added | 20.5 | 176,387 | 845,187 | 0.01% |
2023-08-21 | CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | added | 12.31 | 366,432 | 2,426,700 | -% |
2023-08-21 | TEACHERS RETIREMENT SYSTEM OF THE STATE OF KENTUCKY | added | 5.72 | 57,000 | 583,000 | 0.01% |
2023-08-21 | OSAIC HOLDINGS, INC. | reduced | -48.36 | -114,245 | 134,828 | -% |
2023-08-16 | Nuveen Asset Management, LLC | reduced | -10.22 | -307,293 | 4,955,710 | -% |
2023-08-16 | GTS SECURITIES LLC | new | - | 1,021,240 | 1,021,240 | 0.03% |
Latest Funds Activity
Calls
Puts
Net Call Options
No. of Funds
Schedule 13G FIlings of Callon Petroleum
| Date Filed | Name of Filer | Percent of Class | No. of Shares | Form Type | |
|---|---|---|---|---|---|
| Jul 13, 2023 | percussion petroleum management ii, llc | 9.2% | 6,267,385 | SC 13G | |
| Feb 09, 2023 | vanguard group inc | 10.92% | 6,728,744 | SC 13G/A | |
| Feb 02, 2023 | state street corp | 7.32% | 4,506,810 | SC 13G/A | |
| Jan 26, 2023 | blackrock inc. | 13.0% | 7,998,948 | SC 13G/A | |
| Jan 25, 2023 | bpp holdco llc | 9.5% | 5,832,824 | SC 13D/A | |
| Jan 20, 2023 | blackrock inc. | 13.0% | 7,998,948 | SC 13G/A | |
| Nov 15, 2022 | blackstone holdings iii l.p. | 0% | 0 | SC 13D/A | |
| Jun 13, 2022 | blackstone holdings iii l.p. | 1.6% | 991,703 | SC 13D/A | |
| Jun 03, 2022 | kimmeridge energy management company, llc | 8.4% | 5,200,780 | SC 13G/A | |
| Apr 20, 2022 | blackstone holdings iii l.p. | 1.6% | 991,703 | SC 13D/A |
Recent SEC filings of Callon Petroleum
View All Filings| Date Filed | Form Type | Document | |
|---|---|---|---|
| Sep 27, 2023 | 144 | Notice of Insider Sale Intent | |
| Sep 26, 2023 | 144 | Notice of Insider Sale Intent | |
| Aug 02, 2023 | 8-K | Current Report | |
| Aug 02, 2023 | 8-K | Current Report | |
| Aug 02, 2023 | 10-Q | Quarterly Report | |
| Jul 13, 2023 | SC 13G | Major Ownership Report | |
| Jul 11, 2023 | 8-K | Current Report | |
| Jul 11, 2023 | 8-K | Current Report | |
| Jul 07, 2023 | S-3ASR | S-3ASR | |
| Jul 07, 2023 | 8-K | Current Report |
Peers (Alternatives to Callon Petroleum)
View All Peers In Detail| Name | Mkt Capsorted ascending | Revenue | Price %, 1M | Returns, 1Y | P/E | P/S | Rev 1-Yr | Inc 1-Yr |
|---|---|---|---|---|---|---|---|---|
| LARGE-CAP | ||||||||
APA | - | 8.8B | -12.31% | 16.31% | - | - | -19.24% | -60.57% |
EOG | 71.7B | 25.9B | -5.59% | 11.33% | 8.24 | 2.77 | 16.80% | 52.54% |
OXY | 60.4B | 31.8B | -3.52% | 1.89% | 4.68 | 1.64 | -6.68% | -38.20% |
PXD | 52.5B | 20.3B | -7.12% | 3.66% | 9.07 | 2.58 | -14.26% | -6.45% |
FANG | 26.9B | 8.3B | -2.88% | 26.39% | 7.71 | 3.24 | -8.75% | -9.74% |
DVN | - | 16.8B | -13.74% | -21.03% | - | - | -8.28% | -9.23% |
| MID-CAP | ||||||||
OVV | 12.5B | 13.4B | -5.18% | -0.48% | 3.75 | 0.93 | 15.65% | 37.73% |
RRC | 7.3B | 4.5B | -8.75% | 20.51% | 4.28 | 1.63 | 15.35% | 216.30% |
MTDR | 6.8B | 2.8B | -12.12% | 16.11% | 7.23 | 2.44 | 1.90% | -11.66% |
KOS | 3.5B | 1.6B | 1.33% | 47.78% | 16.37 | 2.15 | -20.41% | 13.75% |
CRK | 2.9B | 2.9B | -16.42% | -38.75% | 3.06 | 1.02 | 9.57% | 185.64% |
CPE | 2.3B | 2.7B | -9.46% | 5.20% | 2.44 | 0.86 | 12.93% | 24.18% |
OAS | - | 4.0B | - | - | - | - | 72.02% | 99.37% |
| SMALL-CAP | ||||||||
PARR | 2.2B | 7.3B | -0.03% | 117.25% | 3.47 | 0.29 | 21.02% | 508.09% |
LPI | 805.4M | 1.5B | -8.19% | -35.44% | 1.28 | 0.42 | -22.98% | 63.46% |
Callon Petroleum News
Returns for CPE
Cumulative Returns on CPE
-3.8%
10-Year Cumulative Returns
-18.6%
7-Year Cumulative Returns
-22%
5-Year Cumulative Returns
95.0%
3-Year Cumulative Returns
Risks for CPE
What is the probability of a big loss on CPE?
100%
Probability that Callon Petroleum stock will be more than 20% underwater in next one year
100%
Probability that Callon Petroleum stock will be more than 30% underwater in next one year.
90.8%
Probability that Callon Petroleum stock will be more than 40% underwater in next one year.
*Calculated based on probability distribution of losses observed in actual data in the last 5 years.
How does CPE drawdown profile look like?
Y-axis is the maximum loss one would have experienced if Callon Petroleum was unfortunately bought at previous high price.
Drawdowns
Financials for Callon Petroleum
Income Statement (Last 12 Months)(In Millions)
| Income Statement (Last 12 Months) | (In Millions) | |||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Description | (%) Q/Q | 2023Q2 | 2023Q1 | 2022Q4 | 2022Q3 | 2022Q2 | 2022Q1 | 2021Q4 | 2021Q3 | 2021Q2 | 2021Q1 | 2020Q4 | 2020Q3 | 2020Q2 | 2020Q1 | 2019Q3 | 2019Q2 | 2019Q1 | 2018Q4 | 2018Q3 | 2018Q2 | 2018Q1 |
| Revenue | -11.7% | 2,662 | 3,014 | 3,231 | 2,641 | 2,358 | 1,884 | 1,467 | 1,649 | 1,386 | 1,103 | 1,033 | 983 | 803 | 816 | 503 | 509 | 479 | 453 | 544 | 467 | 413 |
| Operating Expenses | 22.1% | 1,937 | 1,587 | 1,550 | 1,243 | 1,089 | 886 | 711 | 1,476 | 2,155 | 3,442 | 3,479 | 3,574 | 2,485 | 605 | 331 | 317 | 278 | 234 | 289 | 254 | 242 |
| S&GA Expenses | 12.4% | 87.00 | 77.00 | 57.00 | 74.00 | 70.00 | 61.00 | 50.00 | 48.00 | 47.00 | 46.00 | 37.00 | 37.00 | 38.00 | 39.00 | 43.00 | 44.00 | 41.00 | 35.00 | 35.00 | 32.00 | 31.00 |
| EBITDA | -100.0% | - | 1,945 | 1,768 | 1,764 | 1,360 | 975 | 824 | 26.00 | -807 | -2,255 | -1,836 | -1,416 | -744 | 743 | - | - | - | - | - | - | - |
| EBITDA Margin | -100.0% | - | 0.65* | 0.55* | 0.67* | 0.79* | 0.40* | 0.40* | 0.02* | -0.58* | -2.04* | -1.78* | -1.52* | -0.93* | 0.92* | - | - | - | - | - | - | - |
| Interest Expenses | 0.2% | 131 | 131 | 80.00 | 139 | 147 | 125 | 102 | 103 | 100 | 98.00 | 94.00 | 69.00 | 45.00 | 23.00 | 3.00 | 3.00 | 3.00 | 3.00 | 2.00 | 2.00 | 2.00 |
| Earnings Before Taxes | -43.7% | 736 | 1,307 | 1,222 | 1,136 | 758 | 439 | 365 | -417 | -1,272 | -2,773 | -2,411 | -1,930 | -1,176 | 409 | 283 | 248 | 228 | 308 | 170 | 148 | 130 |
| EBT Margin | -100.0% | - | 0.45* | 0.38* | 0.47* | 0.49* | 0.20* | 0.18* | -0.25* | -0.92* | -2.51* | -2.33* | -2.07* | -1.47* | 0.51* | - | - | - | - | - | - | - |
| Net Income | -30.5% | 935 | 1,346 | 1,210 | 1,130 | 753 | 438 | 365 | -425 | -1,277 | -2,830 | -2,533 | -2,052 | -1,315 | 304 | 248 | 230 | 225 | 300 | 167 | 146 | 129 |
| Net Income Margin | -100.0% | - | 0.46* | 0.37* | 0.46* | 0.49* | 0.20* | 0.18* | -0.26* | -0.92* | -2.57* | -2.45* | -2.20* | -1.65* | 0.38* | - | - | - | - | - | - | - |
| Free Cashflow | -100.0% | - | 1,502 | 1,502 | 1,495 | 1,314 | 608 | 465 | 233 | 74.00 | -59.29 | -117 | -142 | -159 | -67.34 | - | - | - | - | - | - | - |
Balance Sheet(In Millions)
| Balance Sheet | (In Millions) | |||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Description | (%) Q/Q | 2023Q2 | 2023Q1 | 2022Q4 | 2022Q3 | 2022Q2 | 2022Q1 | 2021Q4 | 2021Q3 | 2021Q2 | 2021Q1 | 2020Q4 | 2020Q3 | 2020Q2 | 2020Q1 | 2019Q4 | 2019Q3 | 2019Q2 | 2019Q1 | 2018Q4 | 2018Q3 | 2018Q2 |
| Assets | -1.3% | 6,566 | 6,652 | 6,488 | 6,100 | 5,948 | 5,746 | 5,548 | 4,686 | 4,546 | 4,477 | 4,363 | 4,937 | 5,810 | 7,380 | 7,195 | 4,017 | 3,915 | 4,109 | 3,979 | 3,709 | 3,507 |
| Current Assets | 201.4% | 828 | 275 | 298 | 351 | 405 | 385 | 295 | 269 | 244 | 236 | 178 | 160 | 164 | 357 | 269 | 165 | 138 | 171 | 223 | 189 | 640 |
| Cash Equivalents | 8.3% | 4.00 | 3.00 | 3.00 | 4.00 | 6.00 | 4.00 | 10.00 | 4.00 | 4.00 | 24.00 | 20.00 | 11.00 | 8.00 | 15.00 | 13.00 | 11.00 | 16.00 | 10.00 | 16.00 | 12.00 | 509 |
| Liabilities | 0.7% | 3,023 | 3,002 | 3,063 | 3,291 | 3,689 | 3,831 | 3,682 | 3,753 | 3,789 | 3,709 | 3,652 | 3,733 | 3,929 | 3,937 | 3,972 | 1,548 | 1,432 | 1,680 | 1,534 | 1,420 | 1,258 |
| Current Liabilities | -2.4% | 681 | 698 | 703 | 794 | 1,042 | 1,073 | 872 | 828 | 814 | 672 | 497 | 417 | 478 | 584 | 652 | 301 | 292 | 324 | 315 | 333 | 245 |
| Long Term Debt | 2.9% | 2,268 | 2,205 | 2,241 | 2,373 | 2,516 | 2,623 | 2,694 | 2,810 | 2,865 | 2,937 | 2,969 | 3,190 | 3,351 | 3,251 | 3,186 | - | - | - | 1,189 | - | - |
| Shareholder's Equity | -2.9% | 3,543 | 3,650 | 3,426 | 2,809 | 2,698 | 2,398 | 1,866 | 933 | 757 | 768 | 711 | 1,204 | 1,881 | 3,443 | 3,223 | 2,469 | 2,484 | 2,428 | 2,445 | 2,288 | 2,250 |
| Retained Earnings | -28.7% | -484 | -376 | -597 | -1,209 | -1,759 | -2,107 | -2,147 | -2,432 | -2,604 | -2,592 | -2,512 | -2,007 | -1,326 | 238 | 21.00 | 45.00 | -2.37 | -55.73 | -34.36 | -188 | -224 |
| Additional Paid-In Capital | 0.0% | 4,026 | 4,026 | 4,022 | 4,018 | 4,018 | 4,021 | 4,012 | 3,365 | 3,361 | 3,360 | 3,223 | 3,211 | 3,204 | 3,201 | 3,198 | 2,422 | 2,484 | 2,482 | 2,477 | 2,475 | 2,472 |
| Shares Outstanding | 0.4% | 62.00 | 62.00 | 62.00 | 62.00 | 62.00 | 61.00 | 61.00 | 46.00 | 46.00 | 43.00 | 40.00 | 40.00 | 40.00 | 40.00 | 40.00 | 23.00 | 23.00 | 23.00 | 23.00 | 23.00 | 21.00 |
Cashflow (Last 12 Months)(In Millions)
| Cashflow (Last 12 Months) | (In Millions) | |||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Description | (%) Q/Q | 2023Q2 | 2023Q1 | 2022Q4 | 2022Q3 | 2022Q2 | 2022Q1 | 2021Q4 | 2021Q3 | 2021Q2 | 2021Q1 | 2020Q4 | 2020Q3 | 2020Q2 | 2020Q1 | 2019Q4 | 2019Q3 | 2019Q2 | 2019Q1 | 2018Q4 | 2018Q3 | 2018Q2 |
| Cashflow From Operations | -3.8% | 1,445 | 1,502 | 1,502 | 1,495 | 1,245 | 1,084 | 974 | 742 | 584 | 506 | 560 | 563 | 541 | 593 | 476 | 490 | 493 | 450 | 468 | 396 | 334 |
| Share Based Compensation | 425.7% | 5.00 | -1.65 | 3.00 | 2.00 | 3.00 | 11.00 | 13.00 | 15.00 | 16.00 | 13.00 | 3.00 | 3.00 | 5.00 | 4.00 | 11.00 | 10.00 | 10.00 | 10.00 | 6.00 | 6.00 | 5.00 |
| Cashflow From Investing | -15.8% | -1,181 | -1,020 | -999 | -1,189 | -1,025 | -966 | -876 | -535 | -293 | -374 | -529 | -573 | -717 | -435 | -388 | -545 | -1,080 | -1,381 | -1,324 | -1,179 | -634 |
| Cashflow From Financing | 44.8% | -265 | -481 | -508 | -304 | -217 | -138 | -108 | -213 | -293 | -122 | -23.00 | 10.00 | 168 | -153 | -90.64 | 54.00 | 94.00 | 924 | 844 | 734 | 670 |
CPE Income Statement
2023-06-30Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |||||||
| Operating Revenues: | ||||||||||
| Total operating revenues | $ 562,283 | $ 913,620 | [1] | $ 1,122,329 | $ 1,690,838 | [1] | ||||
| Operating Expenses: | ||||||||||
| Lease operating | 76,788 | 72,940 | [1] | 151,890 | 140,268 | [1] | ||||
| Production and ad valorem taxes | 24,706 | 44,873 | [1] | 57,427 | 82,551 | [1] | ||||
| Gathering, transportation and processing | 27,338 | 23,267 | [1] | 53,315 | 44,042 | [1] | ||||
| Exploration | 1,882 | 2,410 | [1] | 4,114 | 4,295 | [1] | ||||
| Depreciation, depletion and amortization | 127,348 | 115,956 | [1] | 253,313 | 229,599 | [1] | ||||
| Impairment of oil and gas properties | 406,898 | 0 | 406,898 | 0 | ||||||
| General and administrative | 29,768 | 20,175 | [1] | 57,566 | 47,232 | [1] | ||||
| Merger, integration and transaction | 1,543 | 0 | [1] | 1,543 | 769 | [1] | ||||
| Total operating expenses | 785,039 | 435,018 | [1] | 1,160,895 | 815,424 | [1] | ||||
| Income (Loss) From Operations | (222,756) | 478,602 | [1] | (38,566) | 875,414 | [1] | ||||
| Other (Income) Expenses: | ||||||||||
| Interest expense | 47,239 | 46,995 | [1] | 93,545 | 94,091 | [1] | ||||
| (Gain) loss on derivative contracts | (5,941) | 81,648 | [1] | (31,586) | 439,948 | [1] | ||||
| Loss on extinguishment of debt | 0 | 42,417 | [1] | 0 | 42,417 | [1] | ||||
| Other (income) expense | 54 | 1,051 | [1] | (6,360) | 269 | [1] | ||||
| Total other (income) expense | 41,352 | 172,111 | [1] | 55,599 | 576,725 | [1] | ||||
| Income (Loss) Before Income Taxes | (264,108) | 306,491 | [1] | (94,165) | 298,689 | [1] | ||||
| Income tax benefit (expense) | 156,212 | (3,240) | [1] | 206,907 | (3,153) | [1] | ||||
| Net Income (Loss) | $ (107,896) | $ 303,251 | [1] | $ 112,742 | $ 295,536 | [1],[2] | ||||
| Net Income (Loss) Per Common Share: | ||||||||||
| Basic (in dollars per share) | $ (1.74) | $ 4.92 | [1] | $ 1.83 | $ 4.80 | [1] | ||||
| Diluted (in dollars per share) | $ (1.74) | $ 4.90 | [1] | $ 1.82 | $ 4.77 | [1] | ||||
| Weighted Average Common Shares Outstanding: | ||||||||||
| Basic (in shares) | 61,856 | 61,679 | [1] | 61,741 | 61,583 | [1] | ||||
| Diluted (in shares) | 61,856 | 61,909 | [1] | 61,939 | 61,956 | [1] | ||||
| Oil | ||||||||||
| Operating Revenues: | ||||||||||
| Total operating revenues | $ 421,775 | $ 619,812 | [1] | $ 831,331 | $ 1,173,061 | [1] | ||||
| Natural gas | ||||||||||
| Operating Revenues: | ||||||||||
| Total operating revenues | 14,423 | 64,913 | [1] | 38,009 | 108,889 | [1] | ||||
| Natural gas liquids | ||||||||||
| Operating Revenues: | ||||||||||
| Total operating revenues | 40,629 | 75,530 | [1] | 83,999 | 143,148 | [1] | ||||
| Sales of purchased oil and gas | ||||||||||
| Operating Revenues: | ||||||||||
| Total operating revenues | 85,456 | 153,365 | [1] | 168,990 | 265,740 | [1] | ||||
| Operating Expenses: | ||||||||||
| Cost of purchased oil and gas | $ 88,768 | $ 155,397 | [1] | $ 174,829 | $ 266,668 | [1] | ||||
| ||||||||||
CPE Balance Sheet
2023-06-30Consolidated Balance Sheets - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 | |||||
|---|---|---|---|---|---|---|---|
| Current assets: | |||||||
| Cash and cash equivalents | $ 3,650 | $ 3,395 | [1] | ||||
| Accounts receivable, net | 164,708 | 237,128 | [1] | ||||
| Fair value of derivatives | 14,960 | 21,332 | [1] | ||||
| Assets held for sale | 606,614 | 0 | |||||
| Other current assets | 37,975 | 35,783 | [1] | ||||
| Total current assets | 827,907 | 297,638 | [1] | ||||
| Oil and natural gas properties, successful efforts accounting method: | |||||||
| Proved properties, net | 4,216,641 | 4,851,529 | [1] | ||||
| Unproved properties | 1,203,168 | 1,225,768 | [1] | ||||
| Total oil and natural gas properties, net | 5,419,809 | 6,077,297 | [1] | ||||
| Other property and equipment, net | 26,596 | 26,152 | [1] | ||||
| Deferred income taxes | 198,534 | 0 | [1] | ||||
| Deferred financing costs | 15,447 | 18,822 | [1] | ||||
| Other assets, net | 77,265 | 68,560 | [1] | ||||
| Total assets | 6,565,558 | 6,488,469 | [1] | ||||
| Current liabilities: | |||||||
| Accounts payable and accrued liabilities | 507,471 | 536,233 | [1] | ||||
| Fair value of derivatives | 1,506 | 16,197 | [1] | ||||
| Liabilities associated with assets held for sale | 71,114 | 0 | |||||
| Other current liabilities | 100,701 | 150,384 | [1] | ||||
| Total current liabilities | 680,792 | 702,814 | [1] | ||||
| Long-term debt | 2,268,116 | 2,241,295 | [1] | ||||
| Asset retirement obligations | 36,235 | 53,892 | [1] | ||||
| Fair value of derivatives | 1,941 | 13,415 | [1] | ||||
| Other long-term liabilities | 35,802 | 51,272 | [1] | ||||
| Total liabilities | 3,022,886 | 3,062,688 | [1] | ||||
| Commitments and contingencies | [1] | ||||||
| Stockholders’ equity: | |||||||
| Common stock | 619 | 616 | [1] | ||||
| Capital in excess of par value | 4,026,340 | 4,022,194 | [1] | ||||
| Accumulated deficit | (484,287) | (597,029) | [1] | ||||
| Total stockholders’ equity | 3,542,672 | 3,425,781 | [1],[2] | ||||
| Total liabilities and stockholders’ equity | $ 6,565,558 | $ 6,488,469 | [1] | ||||
| |||||||
Callon Petroleum Company, an independent oil and natural gas company, focuses on the acquisition, exploration, and development of oil and natural gas properties in Permian Basin in West Texas. As of December 31, 2021, its estimated net proved reserves totaled approximately 484.6 million barrel of oil equivalent, including 290.3 MMBbls oil, 577.3 Bcf of natural gas, and 98.1 MMBbls of natural gas liquids. The company was founded in 1950 and is headquartered in Houston, Texas.