{"schema_version":"secwatch.filing_event.v1","accession":"0000928022-23-000122","form_type":"8-K","ticker":null,"cik":"0000928022","company_name":"Callon Petroleum Co","filed_at":"2023-07-07T23:59:59+00:00","discovered_at":"2026-05-14T18:03:37.069417+00:00","generated_at":"2026-06-13T11:27:30.575348+00:00","sec_items":["1.01","2.01","7.01","8.01","9.01"],"event_type":"m_and_a","sentiment":"positive","materiality_score":0.85,"calibrated_materiality_score":0.85,"confidence":"high","headline":"Callon closes Percussion acquisition ($249M cash+6.3M shares) & Eagle Ford sale ($551M); debt cut ~$300M; $300M buyback","bullets":["Acquired Percussion (Delaware Basin) for ~$249M cash plus ~6.3M shares ($210M), plus earnout up to $62.5M based on WTI thresholds.","Sold Eagle Ford assets to Ridgemar for $551M cash; contingent consideration up to $45M if WTI exceeds thresholds in 2024.","Net debt reduced approximately $300M; gross debt below $2.0B; redeemed $187.2M of 8.25% Senior Notes due 2025.","Board authorized $300M share repurchase program over two years; first repurchases expected in Q3 2023."],"urls":{"canonical":"https://secwatch.observer/filing/0000928022-23-000122","json":"https://secwatch.observer/filing/0000928022-23-000122.json","markdown":"https://secwatch.observer/filing/0000928022-23-000122.md","text":"https://secwatch.observer/filing/0000928022-23-000122.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/928022/000092802223000122/0000928022-23-000122-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/928022/000092802223000122/cpe-20230703.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-13T11:27:30.575348+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"0b290bc56be386b289c879070f3825a3a6f8e59c","claim":"Callon Petroleum Co completed a disposition involving Ridgemar Energy Operating, LLC for approximately $551.0 million in cash (closed 2023-07-03).","evidence_excerpt":"Concurrently, CPOC completed the Eagle Ford Divestiture for a sale prices of approximately $551.0 million in cash as total consideration for the equity interests in Callon Eagle Ford.","evidence_source":"SEC 8-K Item 2.01/5.01","evidence_url":"https://www.sec.gov/Archives/edgar/data/928022/000092802223000122/0000928022-23-000122-index.htm","confidence":0.9,"family_label":"M&A Transactions","details":[{"label":"Action","value":"disposition"},{"label":"Counterparty","value":"Ridgemar Energy Operating, LLC"},{"label":"Consideration","value":"approximately $551.0 million in cash"},{"label":"Closing","value":"2023-07-03"}],"fact_type":"ma_transaction"},{"claim_id":"8d13b6bc700c5398a51245d9dc7db92c45971f49","claim":"Callon Petroleum Co completed an acquisition involving Percussion Petroleum Management II, LLC for approximately $248.6 million in cash, inclusive of the repayment of Percussion Target’s indebtedness of approximately $220.0 million, and approximately $210.0 m (closed 2023-07-03).","evidence_excerpt":"On July 3, 2023, the Company and CPOC completed the Percussion Acquisition for a purchase price of approximately $248.6 million in cash, inclusive of the repayment of Percussion Target’s indebtedness of approximately $220.0 million, and approximately $210.0 million in shares of Company common stock (the “Stock Consideration”) as total consideration for the equity interests acquired in Percussion Target.","evidence_source":"SEC 8-K Item 2.01/5.01","evidence_url":"https://www.sec.gov/Archives/edgar/data/928022/000092802223000122/0000928022-23-000122-index.htm","confidence":0.9,"family_label":"M&A Transactions","details":[{"label":"Action","value":"acquisition"},{"label":"Counterparty","value":"Percussion Petroleum Management II, LLC"},{"label":"Consideration","value":"approximately $248.6 million in cash, inclusive of the repayment of Percussion Target’s indebtedness of approximately $220.0 million, and approximately $210.0 m"},{"label":"Closing","value":"2023-07-03"}],"fact_type":"ma_transaction"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}