Callon Petroleum, an independent oil and natural gas company, completed the acquisition of the membership interests from Percussion Petroleum, a Houston-based oil and gas company for $537m. "Callon is uniquely positioned to capture value from this high-quality oil asset that is complementary to our core Delaware position. The combined transactions strengthen our capital structure, improve our margins, and lengthen our top-tier Permian inventory. In addition to improving our net asset value proposition, we will achieve our near-term total debt milestone and intend to initiate a capital return program for shareholders at closing," Joe Gatto, Callon President and CEO.