Callon Petroleum Company Company News

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Oil Rig Tally for US Ends Year at Lowest Level Since 2005
Wednesday, December 30, 2020Although the US rig count has recovered since August, it remains far below where it began 2020.

Will 2021 Be a Quieter Year for Energy Bankruptcies?
Friday, December 18, 2020Better days may be ahead for energy companies after a busy year of bankruptcies.

Permian Drilling Rights Price Falls Nearly 70%
Thursday, November 12, 2020The price to drill an acre of land in the biggest US shale basin has tumbled amid the oil rout, creating conditions ripe for more mergers and acquisitions.

Small Shale Stocks Lead Energy Rally Post OPEC Extension
Monday, June 08, 2020Small shale producers and offshore drillers are among stocks soaring after the wider OPEC+ group agreed to extend output curbs.

Shareholders Approve Callon-Carrizo Merger
Friday, December 20, 2019After a delayed vote, both Callon Petroleum Company and Carrizo Oil & Gas, Inc. shareholders voted to approve the companies' all-stock merger Friday morning.

Paulson No Longer Opposes Callon-Carrizo Deal
Monday, November 18, 2019Hedge fund Paulson & Co. Inc. is dropping its opposition to U.S. shale producer Callon Petroleum Company's buyout of rival Permian player Carrizo Oil & Gas.

Callon, Carrizo Amend Acquisition Deal Amid Shareholder Opposition
Thursday, November 14, 2019Following months of opposition from one of its largest shareholders, Callon Petroleum Company has lowered its acquisition offer for rival Permian player Carrizo Oil & Gas, Inc.

Paulson Blasts Exec Pay in Callon-Carrizo Permian Deal
Tuesday, October 22, 2019Paulson & Co. reiterated its opposition to Callon Petroleum's planned takeover of rival Permian Basin crude producer Carrizo Oil & Gas, this time targeting management compensation.

Paulson Says Callon Should Walk Away from Carrizo Purchase
Monday, September 09, 2019Paulson & Co. has come out against Callon Petroleum Co.'s $1.2 billion deal to buy Carrizo Oil & Gas Inc., arguing the Permian Basin energy explorer should walk away from the deal and put itself up for sale.

Is the US Shale Boom Winding Down?
Tuesday, August 06, 2019US shale producers are dialing back growth in the face of challenges that are killing returns and keeping skeptical investors away.

Callon Acquires Carrizo in $3.2B All-Stock Deal
Monday, July 15, 2019U.S. independent Callon Petroleum Company will acquire Houston-based Carrizo Oil & Gas, Inc. in an all-stock transaction valued at $3.2 billion.

Callon Petroleum to Sell Non-Core Midland Assets
Wednesday, April 10, 2019Callon Petroleum Company has entered into a definitive agreement to divest its non-core assets in the Ranger operating area of the Midland Basin for $260 million cash.

Texas Shale Drillers Lure $2 Billion in New Equity to Permian
Tuesday, February 02, 2016Oil producers in West Texas, defying expectations they would fall victim to OPEC’s price war, are instead selling investors on the idea that they can still profit with prices below $35 a barrel.

Oil Companies' New Math Makes Them Look Bigger in Texas
Friday, November 21, 2014Energy companies have long touted to Wall Street investors the number of acres they lease or own as a measure of how many oil and gas shale wells they can potentially drill.

Callon Updates Onshore US Ops
Tuesday, June 08, 2010Callon Petroleum provided an update on its onshore drilling activity in the Permian Basin and Haynesville Shale, and reaffirmed its production guidance for the second quarter and full-year 2010.

Callon Exceeds Operational Expectations in 1Q
Friday, May 07, 2010Callon Petroleum reported net income of $3.9 million, or $0.13 per diluted share, for the quarter ended March 31, 2010, which exceeds analysts' consensus estimate of $0.09 per diluted share, and compares to $2.4 million for the same quarter in 2009.

Callon to Redeem 2010 Notes
Thursday, April 01, 2010Callon announced that it intends to redeem $16,052,000 of its 9.75% Notes due 2010, representing all remaining Notes outstanding after the completion of the previously announced exchange offer.

Callon Welcomes New VP, Production & Development
Thursday, April 01, 2010Callon Petroleum Company has announced that Gary Newberry has joined the company as Vice President, Production and Development.

Callon Shifts Strategy to Onshore Exploration
Wednesday, February 03, 2010Callon Petroleum has provided details regarding its strategy shift to diversify its asset base to onshore in order to increase visible growth potential.

Callon Petroleum Grows Proved Reserves by 6%
Tuesday, February 02, 2010Callon Petroleum ended 2009 with estimated net proved reserves of 58.0 billion cubic feet of natural gas equivalent, compared to 2008 year-end proved reserves of 54.8 Bcfe, a 6% increase.

Callon Completes $100MM Credit Agreement
Monday, February 01, 2010Callon Petroleum has completed a $100 million Third Amended and Restated Senior Secured Credit Agreement.

Callon Petroleum Confirms Hinchman as Executive VP, COO
Tuesday, June 02, 2009Callon Petroleum Company announced today that Steven B. Hinchman has been confirmed as Executive Vice President and Chief Operating Officer.

Callon Petroleum Names New Executive VP, Chief Operating Officer
Friday, May 01, 2009Callon Petroleum announced that Steven B. Hinchman, 50, will join the company, effective June 1, 2009, as Executive Vice President and Chief Operating Officer.

Production to Return to Normal on Callon's GOM Assets
Tuesday, December 09, 2008Production has resumed at most of Callon's significant facilities located in the Gulf of Mexico after facility damage caused by Hurricanes Gustav and Ike.

Callon Suspends Development on Entrada Field in GOM
Friday, November 28, 2008Callon has decided to suspend operations under way to develop the Entrada Field located on the Garden Banks 782 Block in the deepwater of the Gulf of Mexico.

Callon Petroleum Cinches $250MM Credit Agreement
Monday, September 29, 2008Callon Petroleum completed a $250 million Second Amended and Restated Senior Secured Credit Agreement.

Callon Begins Drilling at Entrada Field
Monday, September 22, 2008Callon Petroleum has commenced drilling the first of two development wells at its deepwater Entrada Field. The company anticipates first production in early 2009.

Callon: No Significant Damage from Hurricane Ike
Friday, September 19, 2008Callon Petroleum says that all of the company's deepwater offshore assets remained intact through Hurricane Ike with only minimal damage sustained.

Technip Scores GOM Deepwater Pipeline Installation Contract
Thursday, June 19, 2008Technip was awarded a lumpsum installation contract by Callon for the Entrada oil field development in the Gulf of Mexico, scheduled for the third quarter of 2008.

ClampOn Awarded Several Orders for Subsea Sand, Pig Detector
Wednesday, April 30, 2008ClampOn has received firm purchase orders to equip a number of subsea production manifolds in water depths of up to 8,200 FSW with their state of the art and industry leading subsea sand and pig detectors.

Callon Closes Sale Of 50% Working Interest In Entrada Field
Tuesday, April 08, 2008Callon Petroleum Company has completed the sale of a 50% working interest in the Entrada Field, located in the Deepwater Region of the Gulf of Mexico, to CIECO Energy.

Callon Increases Reserves 81% in 2007
Friday, March 07, 2008As of December 31, 2007, Callon Petroleum's year-end estimated net proved reserves were 263.6 billion cubic feet of natural gas equivalent (Bcfe).

Callon 2007 Net Income Drops Due to Increases in Interest Expense
Friday, March 07, 2008Callon Petroleum reported a net income of $15.2 million, or $0.71 per share. This compares with net income of $40.6 million, or $1.90 per share, for the same period in 2006.

Callon Signs Agreement With CIECO to Fully Develop Entrada Field
Tuesday, February 12, 2008CIECO will pay Callon total cash consideration of $175 million, including a $155 million payment at closing and $20 million of the $40 million contingent payment due to BP after meeting certain cumulative field production milestones.

Callon Closes $61.5 Million Sale of Mineral Interests
Monday, December 31, 2007Callon Petroleum Company has completed the sale of certain non-core, non-operated royalty and mineral interests for $61.5 million pursuant to a Purchase and Sale Agreement dated December 10, 2007.

Callon Says Bob North to be Abandoned
Friday, December 14, 2007Callon Petroleum reports that the exploratory well to test the Bob North Prospect on Mississippi Canyon Block 860 will be plugged an abandoned.

Callon to Sell 2% of Onshore Interests for $61.5 Million
Wednesday, December 12, 2007Callon Petroleum Company has signed an agreement with Indigo Minerals LLC to sell certain non-core, non-operated royalty and mineral interests for $61.5 million.

Diamond Puts Semisubs to Work
Thursday, November 29, 2007Diamond Offshore has received a two-well contract with an estimated duration of six months from Callon Petroleum for the Ocean Victory.

Callon Elects McVay to Board of Directors
Friday, October 19, 2007Callon Petroleum has elected Larry D. McVay to its Board of Directors.

Callon Looking for Partner for Entrada Field Development
Wednesday, September 26, 2007Callon Petroleum says that with the recent execution of a Production Handling Agreement with the Magnolia Field partners and finalization of the development plan, it is now ready to identify a partner to participate in the Entrada Field development.

Callon Petroleum Signs PHA with ConocoPhillips, Devon
Wednesday, September 05, 2007Callon Petroleum has signed a production handling agreement with ConocoPhillips and Devon Energy that calls for gas from the Entrada field to be processed by the Magnolia Production Platform.

Callon Petroleum Reports Second Quarter Results
Friday, August 03, 2007Callon Petroleum reported results of operations for both the three and the six-month periods ended June 30, 2007.

J P Kenny Wins Subsea Engineering Contract for Entrada Field
Tuesday, July 10, 2007J P Kenny has been awarded the project management and engineering for the Callon's Entrada field located in Garden Banks blocks 782 and 783 in the Gulf of Mexico.

Petsec Announces Mobile Bay, South La. Acquisitions
Monday, May 21, 2007Petsec Energy Limited has announced two Gulf of Mexico, USA, acquisitions to build on its exploration and development success of the past five years.

Callon Promotes Smith, Conn
Friday, May 04, 2007Callon Petroleum Co. has named Rodger W. Smith the company's Vice President and Treasurer and Mitzi P. Conn its Controller. Both are long-term Callon employees.

Callon Petroleum Completes Acquisition of Stake in Entrada Field
Thursday, April 19, 2007Callon Petroleum Company has closed the acquisition of BP Exploration and Production Company's 80% working interest in the Entrada Field for total cash consideration of $190 million.

Callon to Acquire BP's Stake in Entrada
Friday, March 09, 2007Callon Petroleum Co. has signed an agreement with BP Exploration and Production Co. to purchase BP's 80% working interest in the Entrada Field in the US Gulf of Mexico for total cash consideration of $190 million.

Callon Petroleum Company Completes $175 Million Credit Facility
Friday, September 01, 2006Callon Petroleum Company has completed a $175 million amended and restated senior secured credit facility with Union Bank of California, N.A. as the lead arranger and administrative agent.

Callon Successful Bidder on 12 Blocks at OCS Lease Sale #200
Tuesday, August 22, 2006Callon Petroleum was the apparent high bidder on 12 offshore tracts at Outer Continental Shelf (OCS) Western GOM Lease Sale #200 conducted by the MMS.

Callon Petroleum's Company Founder Passes Away
Tuesday, March 14, 2006Callon Petroleum announced on Monday that the company's founder, John S. Callon, has passed away. He was 86.