* Q1 EPS $0.13 vs est $0.09
* Oper rev $23.4 mln vs est $22.7 mln
May 6 Callon Petroleum Co's (CPE.N) quarterly
profit beat market estimates and the oil and gas company
forecast a sequentially flat second-quarter production.
For the second quarter, the company sees production to come
in the range of 25 million cubic feet of natural gas equivalent
per day (mmcfe/d) to 28 mmcfe/d. Average production in the
first quarter was 27.8 mmcfe/d.
Net income for the first quarter rose to $3.9 million, or
13 cents a share, from $2.4 million, or 11 cents a share a year
Total operating revenue fell 6 percent to $23.4 million.
Analysts on average had expected the company to earn 9
cents on revenue of $22.7 million, according to Thomson Reuters
The average price received per barrel of oil, after the
impact of hedging, rose 23 percent to $74.78.
Shares of the company closed $5.12 Thursday on the New York
(Reporting by Krishna N. Das in Bangalore)