Callon Petroleum Stock Price, News & Analysis

Callon Petroleum Company (NYSE: CPE) announced the addition of three key executives to enhance its management team. Carrie Endorf joins as Vice President of Asset Development & Technology, Doug Genrich as Vice President of Drilling & Completions, and Angie Day as Chief Information Officer. President Joe Gatto emphasized their expertise will support critical initiatives such as resource optimization and digitalization. Endorf, Genrich, and Day bring over 20 years of experience each, aiming to drive value from Callon's resource base and improve operational efficiency.

On November 7, 2022, Callon Petroleum Company (NYSE: CPE) announced the resignation of board member Michael L. Finch, who served since 2015. The decision was acknowledged by Chairman Richard Flury, who expressed gratitude for Finch's contributions over the past seven years. Callon Petroleum focuses on acquiring, exploring, and developing high-quality oil and natural gas assets in South and West Texas, positioning itself strategically in leading oil plays.

Callon Petroleum Company (CPE) reported robust third quarter 2022 results, achieving 8% sequential growth in daily oil production and a net income of $549.6 million ($8.88 per diluted share). The company generated $475.3 million in operating cash flow and $148.4 million in adjusted free cash flow, with a total debt reduction of $150 million, bringing the debt-to-adjusted EBITDA ratio below 1.5x. Callon expects continued strength in production and operational capital expenditures of $180-$195 million in the fourth quarter, alongside an extended credit facility maturing in 2027.

Callon Petroleum Company (NYSE: CPE) announced the extension of its senior secured revolving credit facility to October 19, 2027. The facility includes a borrowing base of $2.0 billion and an elected commitment of $1.5 billion. CEO Joe Gatto stated this extension concludes a two-year financial repositioning plan, enabling the company to focus on reducing debt using free cash flow. Callon emphasizes its commitment to navigating future challenges, including oil price volatility and operational risks.

Callon Petroleum Company (NYSE: CPE) has announced a conference call to discuss its financial and operating results for the third quarter of 2022. The call is scheduled for November 3, 2022, at 8:00 a.m. Central Time. Results will be released after the market closes on November 2, 2022. Callon is an independent oil and natural gas company focused on acquiring and developing assets primarily in South and West Texas. Investors can access the conference call through a webcast on the company's website.

Callon Petroleum Company (NYSE: CPE) announced that CEO Joe Gatto and CFO Kevin Haggard will meet with investors at the Barclays CEO Energy-Power Conference on September 6th and 7th in New York. An updated corporate presentation will be available on the Company’s website in the 'News' section the morning of the conference. Callon Petroleum is an independent oil and natural gas company focused on acquiring and developing high-quality assets in South and West Texas.

Callon Petroleum Company (CPE) reported a robust performance for Q2 2022, with production averaging 100.7 MBoe/d, comprising 61% oil. Key financial highlights include net cash from operations of $372.3 million, adjusted free cash flow of $125.6 million, and a net income of $348 million ($5.62 per share). The company saw a 20% increase in well productivity in the Delaware Basin and achieved an operating margin of $67.58 per Boe. Despite some elevated downtime due to workover activities, Callon plans to increase its production guidance for the full year to between 102 and 105 MBoe/d.

USA Compression Partners (NYSE: USAC) and Callon Petroleum (NYSE: CPE) have initiated the start-up of several Dual Drive compressors in the Eagle Ford Shale. This innovative compression service allows operators to use either natural gas or electricity, significantly reducing greenhouse gas emissions. USA Compression is the sole provider of this technology, aiming to enhance operational reliability and reduce costs. The Dual Drive system combines gas and electric engines to optimize fuel use and emissions, contributing to sustainability goals.