Permian player Callon Petroleum is facing pressure from billionaire investor John Paulson’s hedge fund after the firm released a letter urging the independent to drop a $3.2 billion proposal to acquire Carrizo Oil and Gas and instead sell itself.
On Monday, in a letter to Callon’s board, Paulson & Co. said it would vote against the all-stock acquisition of Carrizo, a company that operates in the south Texas Eagle Ford shale play.
