NATCHEZ — Callon Petroleum Company announced Monday that its lending group unanimously approved the reaffirmation of the company’s existing $300 million borrowing base under its senior secured revolving credit facility, including $300 million of related commitments, following the semi-annual redetermination process.

All terms governing the credit facility remained unchanged.

“We believe that the outcome of our redetermination is a testament not only to the performance of our Midland Basin assets, but also to the achieved capital and operating cost reductions that have enabled us to continue a measured pace of development and efficiently grow our proved reserve base,” Chief Financial Officer of Callon Joe Gatto said. “We are appreciative of the ongoing support of our lending group and their contributions to our financial position and the execution of our growth strategy.”

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.