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Callon Petroleum (CPE)

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Last Post: 7/6/2018 10:42:00 AM - Followers: 33 - Board type: Free - Posts Today: 0

Callon Petroleum Company

We are an independent oil and natural gas company focused on growing reserves and production through efficient operations and low finding and development costs. We have been operating successfully since 1950, both offshore and onshore in several oil and natural gas basins.

In 2009 we initiated a focused strategy to reinvest the significant cash flow generated by our offshore producing properties into lower risk, longer life onshore oil and natural gas fields. In response to this shift in strategy we have added new team members with extensive experience in our new areas of operations to lead our technical and operational efforts. We have initiated the first steps in this strategy with acquisitions in the Permian Basin of West Texas and the Haynesville Shale of northern Louisiana. These acquisitions have added acreage for the drilling of over 300 wells in the Permian Basin Wolfberry Trend and seven wells in the Haynesville Shale. We view these acquisitions as initial entry positions into two of the most attractive oil and gas plays in the onshore U.S.

We replaced 127% of our production in 2009 and our current proved, probable and possible un-risked reserves are estimated to be 27.8 million barrels of oil equivalent. Over 70% of our anticipated revenue for 2010 will be from oil and natural gas liquids.
 

Highlights from the first nine months of 2010 include:

•Drilled and placed on production nine wells in the Permian Basin, increasing our net production in the play by 43% to 500 barrels of oil equivalent per day (Boe/d) and our proved reserves by 2.1 million of barrels of oil equivalent (MMboe). As of September 30, 2010, we were drilling two wells and had two wells awaiting fracture stimulation. With two rigs running in the Permian Basin, the company expects to drill a total of 23 wells in 2010, increasing net production of oil to approximately 750 Boe/d by year-end.

•Completed and placed on production our first operated Haynesville Shale well, which began producing at a restricted flow rate of 10.5 million cubic feet of natural gas equivalent per day (MMcfe/d). This is the first of seven planned Haynesville wells. Through September 30, 2010, a total of 2.3 MMboe have been converted from probable reserves to proved status.

•Total proved reserves based on internal engineering estimates have increased to 13 MMboe as of September 30, 2010, a 34% increase year-to-date.

•The borrowing base on the company's credit facility was increased 50% to $30 million based on the growth of the company's proved reserves.

"With the third quarter, we delivered another period of positive execution of our strategic growth plan that we implemented a little more than a year ago," Fred Callon, Chairman and CEO, points out. "This time last year, we had no onshore oil production. Today we are reporting onshore oil production of 500 net barrels per day, and we have our Haynesville Shale acreage held by production. Our diversification strategy for reinvesting cash flow generated from our offshore deepwater fields into lower-risk onshore oil and shale gas plays has enabled us to increase our long-term visible growth prospects, strengthen our balance sheet and continue growing per-share value."

Shares of Callon Petroleum Company common stock are traded on the New York Stock Exchange under the symbol “CPE.” The Company's objective is to enhance stockholder value through sustained growth in its reserve base, production levels and resulting cash flows from operations.

Links
Callon Home Page: http://www.callon.com/index.html
Operations overview with interactive map like the one pictured below: http://www.callon.com/ops_overview.html

 

 

 

          

          

 

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CPE News: Callon Petroleum Company Schedules Third Quarter 2018 Conference Call for November 7, 2018 10/15/2018 04:15:00 PM
CPE News: Callon Petroleum Company Announces Upcoming Investor Events 09/24/2018 04:15:00 PM
CPE News: Callon Petroleum Declares Series A Preferred Dividend 09/04/2018 05:07:00 PM
CPE News: Callon Petroleum Company Announces Closing of Delaware Basin Acquisition and Updates 2018 Guidance 09/04/2018 07:30:00 AM
CPE News: Callon Petroleum Company Announces Upcoming Investor Events 08/30/2018 04:15:00 PM
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#1023   Crude has probably topped in the short term boo boo 07/06/18 10:41:59 AM
#1022   Coming back in today for another ride on catdaddyrt 07/06/18 07:46:22 AM
#1021   Crude tops prior to @POTUS announcing release of boo boo 06/29/18 10:32:39 AM
#1020   Double Top...crude, imo. boo boo 06/27/18 11:14:50 AM
#1019   US O&G Exploration and Production sub-group rankings: boo boo 06/20/18 01:03:26 PM
#1018   Crude support levels: boo boo 06/19/18 11:06:13 AM
#1017   Flipped some on the little bounce last week, huka 06/17/18 01:05:12 PM
#1016   almost touched your 9.80 on friday,this is getting novicetrader 06/16/18 03:23:50 PM
#1015   HOD CPE huka 06/12/18 03:08:52 PM
#1014   Love the steady climb and love the volume. tcummingsvt 06/07/18 11:09:49 AM
#1013   In the past year this has bounced off tcummingsvt 06/07/18 11:04:03 AM
#1012   https://www.cnbc.com/2018/06/07/opec-meeting-on-june-22-likely-to-see-disag boo boo 06/07/18 10:33:30 AM
#1011   https://www.zerohedge.com/news/2018-06-06/next-stage-pressure-iran-lower-oi boo boo 06/07/18 10:30:20 AM
#1010   I'm in at $10.18 and thinking this is tcummingsvt 06/07/18 07:52:56 AM
#1009   Yes hopefully, started a position yesterday. Had an huka 06/05/18 01:35:33 PM
#1008   CPE...hopefully my last buy just now(@$10.39) changes the novicetrader 06/05/18 01:24:06 PM
#1007   I like it when primary trend is initially boo boo 06/04/18 02:49:57 PM
#1006   Truck is backed up at the 980 mile marker huka 06/04/18 01:48:28 PM
#1005   CPE oversold huka 06/04/18 01:42:49 PM
#1004   picked up more CPE @ 10.90,my avg now 11.16! novicetrader 06/01/18 12:36:54 PM
#1003   I will buy more if it goes sub 11. maryjn 06/01/18 10:51:46 AM
#1002   Just bought some @ 11.49 now.I thought that novicetrader 06/01/18 10:24:27 AM
#1001   I bought 200 shares @ 11.86 yesterday. maryjn 06/01/18 09:59:36 AM
#1000   Moody's upped CPE outlook to Positive from Stable. novicetrader 05/31/18 06:11:56 PM
#999   Not yet I thought it would drop move catdaddyrt 05/31/18 11:08:17 AM
#998   Did you buy again? I sold with maryjn 05/30/18 12:19:57 PM
#997   Well what the heck look at this thing catdaddyrt 04/18/18 01:03:31 PM
#996   Taking a .61 profit x 1k and catdaddyrt 04/17/18 11:46:41 AM
#995   CALLON is always a trade you can catdaddyrt 04/16/18 08:46:57 AM
#994   Looking nice -time is all it takes catdaddyrt 04/03/18 11:26:39 AM
#993   Boing look at those candles -nice catdaddyrt 03/06/18 08:04:22 AM
#992   Nothing but red here looks like a loner catdaddyrt 02/28/18 10:55:21 AM
#991   I think the reset of the market is catdaddyrt 02/09/18 05:43:28 PM
#990   I bought 200 @ $11.26 on 1/31/18. maryjn 02/07/18 01:05:56 PM
#989   I am going to use this to lower catdaddyrt 02/06/18 11:17:19 AM
#988   Amazing this stock is positive with the markets maryjn 02/05/18 03:50:44 PM
#987   In my opinion yes but some people catdaddyrt 02/01/18 08:57:36 AM
#986   Wouldn't this be a good time to start maryjn 01/31/18 03:48:18 PM
#985   Well there is a pull back I was catdaddyrt 01/31/18 11:29:55 AM
#984   Price Alert: Callon Petroleum Company (NYSE:CPE) Stock Nears catdaddyrt 01/26/18 04:21:04 PM
#983   Callon Petroleum: A 2018 Story? catdaddyrt 01/26/18 04:19:33 PM
#982   $CPE - Agreed with your take, I would JettLoneStar 01/11/18 11:30:49 PM
#981   Slapping the ask I want in catdaddyrt 01/11/18 09:50:55 AM
#980   No pull back so far, may not be catdaddyrt 01/10/18 11:41:20 AM
#979   Agreed, this is a comeback year for Oil JettLoneStar 01/08/18 03:58:18 AM
#978   I have made several multi-dollar trades with CPE. catdaddyrt 01/07/18 01:29:18 PM
#977   Thank you for sharing. I like this one JettLoneStar 01/07/18 01:23:26 AM
#976   Bounced off 10.50 would like to get some catdaddyrt 01/06/18 07:55:44 PM
#975   $CPE Its due for one. Any ideas where JettLoneStar 01/06/18 05:27:02 PM
#974   Waiting for pull back and I am catdaddyrt 01/05/18 09:22:11 AM
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