re: CPE - Callon Petroleum - is it dead in the water or poised for a rebound?

Good company. Will take awhile to digest Carrizo but I don’t see any reason to buy given the current state of energy sentiment. They also really aren’t differentiated versus their Permian-focused peers. If you’re betting on them, might as well bet on the entire Permian-focused midcap universe (SM, XEC, WPX, MTDR, JAG, CDEV, QEP, etc). I could see Callon getting taken out down the road but recall that takeout premiums have been pretty weak as of late.