Key Developments: Callon Petroleum Co (CPE)

CPE on New York Consolidated

10.93USD
11 Jul 2014
Price Change (% chg)

$-0.71 (-6.10%)
Prev Close
$11.64
Open
$11.64
Day's High
$11.72
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$10.91
Volume
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52-wk High
$12.09
52-wk Low
$3.67

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Latest Key Developments (Source: Significant Developments)

Callon Petroleum Co Prices $75 Million Of Non-Convertible Perpetual Preferred Stock
Wednesday, 22 May 2013 09:19am EDT 

Callon Petroleum Co announced the pricing of an underwritten public offering of non-convertible 10% Series A Cumulative Preferred Stock (liquidation preference $50.00 per share) (the Series A Preferred Stock) at a public offering price of $47.50 per share. The offering consists of 1,578,948 shares of Series A Preferred Stock, and the Company estimates that gross proceeds from the offering will be $75 million before underwriting commissions and expenses. The offering is expected to settle and close on May 30, 2013. The Company anticipates that the Series A Preferred Stock will be listed for trading under the ticker symbol CPE.A on the New York Stock Exchange. The Company estimates that the net proceeds from the offering will be approximately $70 million, after the deduction of underwriting commissions and expenses. Callon intends to use the net proceeds from the sale of the Series A Preferred Stock to accelerate the timing of capital expenditures to further develop and evaluate its properties in the Permian Basin, and for possible future acquisitions and general corporate purposes. Pending such use, net proceeds will be used to repay borrowings under the Company's revolving credit facility. Janney Montgomery Scott LLC, Sterne, Agee & Leach, Inc. and MLV & Co. LLC are acting as joint book-running managers for the offering. Dougherty & Company, LLC and Northland Capital Markets are acting as co-managers for the offering.  Full Article

Callon Petroleum Co Announces Public Offering of Non-Convertible Perpetual Preferred Stock
Monday, 20 May 2013 02:08pm EDT 

Callon Petroleum Co announced that it is commencing an underwritten public offering of non-convertible Series A Cumulative Preferred Stock (liquidation preference of $50.00 per share). The offering is being made on a best efforts basis pursuant to an effective shelf registration statement that Callon previously filed with the Securities and Exchange Commission (the SEC). The Company anticipates that the Series A Cumulative Preferred Stock will be listed for trading under the ticker symbol CPE.A on the New York Stock Exchange. The Company intends to use the net proceeds from the sale of the Series A Cumulative Preferred Stock to accelerate the timing of capital expenditures to further develop and evaluate its properties in the Permian basin, and for possible future acquisitions and general corporate purposes. Pending such use, net proceeds will be used to repay borrowings under the Company's revolving credit facility. Janney Montgomery Scott LLC, Sterne, Agee & Leach, Inc. and MLV & Co. LLC are acting as joint book-running managers for the offering. Dougherty & Company, LLC and Northland Capital Markets are acting as co-managers for the offering.  Full Article

Callon Petroleum Co Reaffirms FY 2012 Production Guidance-Conference Call
Thursday, 8 Nov 2012 07:00pm EST 

Callon Petroleum Co announced that the production guidance for fiscal 2012 remains unchanged and is expected to range between 4,350 to 4,650 net barrels oil equivalent per day.  Full Article

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