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HOUSTON, May 26, 2020 /PRNewswire/ -- Callon Petroleum Company ("Callon" or the "Company") (NYSE: CPE) today announced that it terminated its previously announced private exchange offer (the "Exchange Offer") to holders of its outstanding 6.25% Senior Notes due 2023 (the "2023 Notes"), 8.25% Senior Notes due 2025 (the "2025 Notes" and, together with the 2023 Notes, the "Carrizo Notes"), 6.125% Senior Notes due 2024 (the "2024 Notes") and 6.375% Senior Notes due 2026 (the "2026 Notes" and, together with the 2024 Notes, the "Callon Notes" and, together with the Carrizo Notes, the "Old Notes") to exchange their Old Notes for up to $300,000,000 aggregate principal amount of newly issued 8.00% Second Lien Senior Secured Notes due 2025 (the "New Notes"). All Old Notes previously tendered in the Exchange Offer and not validly withdrawn will be promptly returned to their respective holders. No Old Notes will be accepted for exchange and no New Notes will be issued.