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Callon Petroleum (CPE)

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Last Post: 4/18/2018 1:03:31 PM - Followers: 32 - 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.

Callon Home Page:
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CPE News: Callon Petroleum Company Schedules First Quarter 2018 Conference Call for May 3, 2018 04/19/2018 04:15:00 PM
CPE News: Callon Petroleum Company Announces Upcoming Investor Events 03/19/2018 06:00:00 AM
CPE News: Callon Petroleum Declares Series A Preferred Dividend 03/05/2018 06:00:00 AM
CPE News: Callon Petroleum Company Announces Fourth Quarter 2017 Results 02/27/2018 04:30:00 PM
CPE News: Callon Petroleum Company Provides Operations Update and 2018 Capital Budget 02/01/2018 04:20:00 PM
News News Alert: Callon Petroleum Company Schedules First Quarter 2018 Conference Call for May 3, 2018 04/19/2018 04:15:00 PM
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#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
#973   Callon Petroleum (NYSE:CPE) selects Jim Ulm as its JettLoneStar 12/09/17 09:19:54 PM
#972   The last time CPE price was this low jones99 08/16/17 04:58:18 AM
#971   This article in Forbes regarding Fred Callon's passing hamilton 05/27/17 09:59:49 AM
#970   I am currently not in CPE but still catdaddyrt 05/16/17 02:21:06 PM
#969   Callon Petroleum +2% as analyst says Q1 shows eFinanceMarkets 05/03/17 03:41:16 PM
#968   Callon Petroleum (NYSE:CPE) -2.8% AH after agreeing to catdaddyrt 12/13/16 05:32:29 PM
#967   Come on CPE pull on back and coil catdaddyrt 12/05/16 05:15:47 PM
#966   I have had my teeth knocked out by catdaddyrt 12/01/16 02:47:06 PM
#965   Yes, I did make out well. I've been Uranium 12/01/16 01:12:09 PM
#964   I left a lot on the table but catdaddyrt 12/01/16 11:59:59 AM
#963   I did it. Sold the last of what Uranium 11/30/16 03:55:38 PM
#962   I'm debating on pulling the trigger before close today Uranium 11/30/16 03:37:57 PM
#961   Ouch I left 1.00 catdaddyrt 11/30/16 03:04:51 PM
#960   now look at her go - nothing catdaddyrt 11/30/16 10:44:26 AM
#959   wow nice recovery from the unfounded drop yesterday catdaddyrt 11/30/16 10:16:01 AM
#958   The best is yet to come here I catdaddyrt 11/22/16 07:22:19 AM
#957   Maybe I'll hold for a while and trade Uranium 11/21/16 07:15:10 PM
#956   I took profit not too long ago I catdaddyrt 11/21/16 06:27:38 PM
#955   Hey catd, I sold off most of my Uranium 11/18/16 08:07:46 PM
#954   14.38s for starts here catdaddyrt 11/18/16 11:43:30 AM
#953   Looks like a small drop in premarket ........................ catdaddyrt 10/20/16 09:33:19 AM
#952   Back in the hunt here - catdaddyrt 10/19/16 02:46:01 PM
#951   wowser- nice end of the week I am catdaddyrt 09/30/16 03:02:05 PM
#950   Callon is obviously not done acquiring assets. The catdaddyrt 09/12/16 04:22:17 PM
#949   BUY BUYY BUY stockprofitter 09/08/16 03:36:32 AM
#947   Wow strong day here again !!! catdaddyrt 08/11/16 03:58:14 PM