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CPE - Callon Petroleum: May Be Able To Reduce Its Net Debt By 60% Over Next 2 Years
Callon Petroleum Company
Callon is projected to generate over $1.6 billion in positive cash flow by the end of 2023 at the current strip.
This would allow it to reduce its net debt by 60% over that time frame.
This also assumes some cost inflation compared to Callon's February guidance.
Callon's share price is being held down by its debt, but there is a good pathway for addressing its debt, assuming that oil prices remain strong in the near term.