Callon Petroleum Company (NYSE: CPE) recenlty announced it has completed the acquisition of interests in Wolfberry production and development properties located in Crockett, Ector, Midland and Upton Counties, Texas, from Ambrose Energy I, Ltd., a subsidiary of ExL Petroleum, LP.

The purchase price of $16.25 million is subject to standard industry closing adjustments. The effective date of the sale was Sept. 1.

The acquisition includes 1.6 million barrels of oil equivalent of proved reserves, 23 wells producing 475 net barrels of oil equivalent per day, 4 uphole recompletion targets, 14 proved undeveloped locations and 142 non-proven, 40-acre drilling locations.

The company will operate substantially all of the production and development.

Callon Petroleum Company is engaged in the acquisition, development, exploration and operation of oil and gas properties primarily in the Gulf Coast region. Callon’s properties and operations are geographically concentrated in Louisiana, Texas and the offshore waters of the Gulf of Mexico.