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Ameredev II, LLC announced the closing of an equity commitment of $400 million from EnCap Investments, L.P.

March 7th, 2017

HOUSTON and AUSTIN, Texas, March 7, 2017 /PRNewswire/ — Ameredev II, LLC (“Ameredev” or the “Company”) announced today the closing of an equity commitment of $400 million from EnCap Investments, L.P. (“EnCap”) and members of Ameredev management.

Ameredev is an Austin-based exploration and production company focused on the acquisition and development of oil and gas resources in the United States. The Company is led by a multi-disciplined management team with a track record of value creation through commercial and operational excellence – most recently demonstrated by its $633 million sale of Core Southern Delaware Basin assets to Callon Petroleum Company.

Parker Reese, Ameredev Chief Executive Officer said, “The EnCap team’s focus on relationships, balanced commercial and technical perspective, and track record of investment returns make them a great partner for Ameredev. We look forward to continuing the successful value-adding partnership that we have developed with them.”

“We congratulate Ameredev on the successful closing of the sale of our Delaware Basin assets and are excited to continue our partnership with Parker and the entire Ameredev team through the formation of Ameredev II.” — Jason DeLorenzo, Managing Partner of EnCap

Since 1988, EnCap Investments has been the leading provider of private equity to the independent sector of the U.S. oil and gas industry. The firm has raised 19 institutional oil and gas investment funds totaling approximately $27.5 billion and currently manages capital on behalf of more than 300 U.S. and international investors. EnCap professionals represent more than 250 years of experience in the energy finance and investment business. EnCap has a proven track record, having successfully invested with approximately 220 upstream and midstream oil & gas companies.

For further information:

Ron Zboril

Chief Financial Officer

737-300-4700

Related Links

http://www.ameredev.com

SOURCE Ameredev II, LLC

Related Links

http://www.ameredev.com

Callon Petroleum Company Announces Closing of Core Delaware Basin Acquisition

February 13th, 2017

NATCHEZ, Miss., Feb. 13, 2017 /PRNewswire/ — Callon Petroleum Company (NYSE: CPE) (“Callon” or the “Company”) today announced the closing of its previously announced acquisition of oil and natural gas assets in the southern Delaware Basin from American Resource Development LLC. On February 13, 2017, the Company completed the acquisition of approximately 16,700 net surface acres in Ward and Pecos Counties, Texas, comprised of an initially disclosed amount of 16,098 net acres and an incremental 590 net acres acquired between signing and closing of the transaction that are either within or contiguous to the Ward County footprint. Inclusive of the incremental acreage and the purchase of the midstream assets of Ameredev Midstream Development LLC, total cash consideration paid for the acquisition was $633 million, subject to customary purchase price adjustments.

The Corbets 34-149 2WA well, with a 10,000’ drilled lateral targeting the Lower Wolfcamp A, is currently flowing back in Ward County. In addition, a second 10,000’ drilled lateral targeting the Wolfcamp B is awaiting completion in an offsetting drilling unit. After closing of this transaction, Callon’s position in the Permian Basin now totals over 56,000 net surface acres.

Fred Callon, Chairman and Chief Executive Officer commented, “Our initial entry into the Delaware Basin represents another important strategic step for Callon in the Permian Basin. The contiguous acreage position resides within a deep, over-pressured region and includes multiple, oil-weighted target intervals. We currently estimate over 480 gross horizontal locations on the acquired Ward County acreage in just the Wolfcamp A and B zones that have been well-delineated in the area, with potential upside locations in the Wolfcamp C and various Bone Spring intervals, in addition to emerging development opportunities in Pecos County. This new development unit, our fourth core operating area in the Permian which we have named Spur, will be an important component of our growing portfolio of investment opportunities that we believe will drive attractive returns on total capital employed as our Permian drilling activity increases. We are preparing to add a dedicated horizontal drilling rig to the Spur operating area by mid-year 2017, which will be our fourth operated rig in the Permian, with the potential for incremental drilling activity in the Delaware Basin in 2018.”

About Callon Petroleum Company

Callon 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.

Cautionary Statement Regarding Forward Looking Statements

This news release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements include all statements regarding the implementation of the Company’s business plans and strategy, including future drilling plans, as well as statements including the words “believe,” “expect,” “plans” and words of similar meaning. These statements reflect the Company’s current views with respect to future events and performance. No assurances can be given, however, that these events will occur or that these projections will be achieved, and actual results could differ materially from those projected as a result of certain factors. Some of the factors which could affect our future results and could cause results to differ materially from those expressed in our forward-looking statements include the Company’s ability to realize the anticipated benefits of the acquisition, the volatility of oil and gas prices, ability to drill and complete wells, operational, regulatory and environment risks, our ability to finance our activities and other risks more fully discussed in our filings with the Securities and Exchange Commission, including our Annual Reports on Form 10-K, available on our website or the SEC’s website at www.sec.gov.

For further information contact:
Eric Williams
Manager, Finance
1-800-451-1294

SOURCE Callon Petroleum Company

http://www.prnewswire.com/news-releases/callon-petroleum-company-announces-closing-of-core-delaware-basin-acquisition-300406181.html

American Resource Development LLC ("Ameredev" or the "Company") announced today the closing of an equity commitment of $250 million from EnCap Investments, L.P. ("EnCap")

July 7th, 2015

Ameredev is an Austin-based exploration and production company focused on the acquisition and development of oil and gas properties in the Permian Basin. The Ameredev management team is comprised of former employees of Three Rivers Operating Company, Cimarex Energy Co., and Concho Resources, Inc. and has a combined $23 billion of M&A and $2.2 billion of E&D capital investment experience. Parker Reese, Ameredev President and CEO said, “We are excited to be partnering with a firm with a history of generating exceptional returns that shares our focus on capital preservation, relationships, and having a balanced commercial and technical perspective.”

“Our investment in Ameredev has allowed EnCap to partner with an energetic management team that has a history of creating value in the upstream E&P space,” said Jason DeLorenzo, Managing Partner of EnCap. “We look forward to building a successful and lasting partnership with Parker Reese and his group.”

Since 1988, EnCap Investments has been the leading provider of private equity to the independent sector of the U.S. oil and gas industry. The firm has raised 19 institutional oil and gas investment funds totaling approximately $27.5 billion and currently manages capital on behalf of more than 300 U.S. and international investors. EnCap professionals represent more than 250 years of experience in the energy finance and investment business. EnCap has a proven track record, having successfully invested with approximately 220 upstream and midstream oil & gas companies.

http://www.prnewswire.com/news-releases/american-resource-development-llc-ameredev-or-the-company-announced-today-the-closing-of-an-equity-commitment-of-250-million-from-encap-investments-lp-encap-300109946.html?tc=eml_cleartime