Callon Sells Pipeline
|Wednesday, April 03, 2002
Callon has accepted an offer of $7 million for its North Dauphin Island Pipeline. The pipeline currently generates approximately $1.1 million annually of gross revenues to the company. The company will also receive certain commitments as to future capacity and reduced tariffs for its production transported through this line. The purchase and sale agreement should be signed and the transaction closed during the next two to three weeks.