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rchites 424 posts  |  Last Activity: 5 hours ago Member since: Apr 12, 2004
  • Stick with your day job. They will make plenty in the future as an investment. NATCHEZ, Miss., Feb. 1, 2016 /PRNewswire/ -- Callon Petroleum Company (NYSE: CPE) ("Callon" or the "Company") today announced its outlook for 2016 activity and an operational update, including revised fourth quarter 2015 guidance estimates and proved reserve estimates for the year ended December 31, 2015.
    • Expected fourth quarter 2015 net daily production of 10,500 – 10,700 barrels of oil equivalent per day ("BOE/d"), comprised of 79% - 81% oil volumes
    • Expected fourth quarter 2015 lease operating expense of $6.40 – $6.60 per barrel of oil equivalent ("BOE")
    • Forecasted 2016 net daily production range of 11,500 – 12,000 BOE/d (78% - 80% oil) with an associated operational capital budget of $75 - $80 million
    • Estimated total (two-stream) proved reserves of 54.3 million barrels of oil equivalent ("BOE") at December 31, 2015, an increase of 65% over the prior year-end, of which 80% are comprised of oil volumes and 53% are classified as proved developed
    • Continued strong performance of the Lower Spraberry program, supporting a type curve in excess of 1 million BOE for a normalized 7,500' drilled lateral well
    • Completion of an incremental working interest acquisition in the Casselman-Bohannon focus area
    • Addition of oil and natural gas hedges, increasing total portfolio to 63% and 37%, respectively, of expected 2016 volumes based on midpoint estimates
    Fred Callon, Chairman and CEO, commented "We delivered exceptional operational results in 2015 while pivoting our focus to our highest return investment opportunities in a difficult commodity environment. Achieved reductions in operating cost structure and well costs, combined with sustained performance from our Lower Spraberry program that has exceeded expectations, have positioned us to deliver returns on invested capital per well in excess of 30% at current strip pricing. As a result, Callon continues to generate capital efficient production growth while adding reserves at less than $10 per BOE based on our achieved cost to date. While these resilient returns support continued capital allocation, we also remain committed to achieving our goal of aligning corporate net cash flows with our capital spending in 2016. As a result, we plan to use the operational flexibility embedded in the business by transitioning to a one-rig drilling program, retaining the option to quickly redeploy the second rig to either our existing acreage or new acreage related to an acquisition opportunity. Based on current strip pricing and operational assumptions, we believe that Callon is on target to achieve our goal of being net cash flow neutral by mid-year 2016 while delivering economic growth above our fourth quarter 2015 production rate."
    Central Midland Basin Acquisition
    Callon recently completed the acquisition of an additional 4.9% working interest (3.7% net revenue interest) in its Casselman and Bohannon ("CaBo") fields for total cash consideration of $9.3 million, excluding customary purchase price adjustments. Highlights of the acquisition include:
    • Estimated December 2015 net daily production of 170 BOE/d (75% oil), including production from three established horizontal zones in the Lower Spraberry, Middle Spraberry and Wolfcamp B, in addition to legacy vertical production
    • 305 net acres located primarily in Midland County, Texas
    The Company currently owns a 71.3% working interest (53.5% net revenue interest) in the CaBo area following the completion of this recent acquisition.
    Operations Update
    Recent Well Performance
    Callon is currently producing from 83 horizontal wells that have been developed in five established zones: the Lower Spraberry, Upper and Lower Wolfcamp B, the Wolfcamp A and, most recently, the Middle Spraberry. The following table summarizes initial production ("IP") data from wells that reached peak producing in the fourth quarter of 2015:
    Commodity Risk Management
    Callon's hedging portfolio currently includes the following contracts, representing approximately 63% of the midpoint of forecasted 2016 oil volumes for NYMEX WTI price contracts, 43% of the midpoint of forecasted 2016 oil volumes for Midland Basin basis differential price contracts and 37% of the midpoint of forecasted natural gas volumes for NYMEX Henry Hub price contracts.

  • Reply to

    SHORT COVERING HAS JUST STARTED,

    by fmotiie Feb 3, 2016 11:55 AM

    WLL is hedged 45% through 2016. Hedges are well placed . 38% of these hedges are in the form of a three-way spread and the remaining 7% are from a collar
    December 2015 investor presentation metrics based on $50 oil are hat the market predicts for second half 216. EVEN opec SAY THAT WILL BE THE CASE IN 2016 AFTER A BREIF FALL

  • Reply to

    SHORT COVERING HAS JUST STARTED,

    by fmotiie Feb 3, 2016 11:55 AM

    its very close to the bottom. Watch the snap back.

  • Reply to

    Imperial Capital Outperform $10 PT

    by buk957 21 hours ago

    While Canaccord Genuity is not relying on a serious recovery in oil prices in the near term, Callon Petroleum has the flexibility to bring back its second rig quickly should it make sense. The company plans to idle the rig in the first quarter. Canaccord Genuity increased its price target on CPE to $9 from $8 and maintained its "buy" rating on the stock on Friday 02/05/16 . Liquidity
    As of December 31, 2015, Callon had an outstanding balance of $40 million under its revolving credit facility which currently has a borrowing base of $300 million following an increase of $50 million in October 2015.
    Commodity Risk Management
    Callon's hedging portfolio currently includes the following contracts, representing approximately 63% of the midpoint of forecasted 2016 oil volumes for NYMEX WTI price contracts, 43% of the midpoint of forecasted 2016 oil volumes for Midland Basin basis differential price contracts and 37% of the midpoint of forecasted natural gas volumes for NYMEX Henry Hub price contracts.
    Key elements of the 2016 operational plan include:
    • 19 gross (13.7 net) operated horizontal wells scheduled to be placed on production, all in the Central Midland Basin
    o 17 gross (12.6 net) operated wells target the Lower Spraberry shale and two gross (1.1 net) wells targeting the Wolfcamp B shale
    o All wells completed from pads ranging from two to three wells
    • 2 gross (0.4 net) non-operated horizontal wells scheduled to be placed on production
    o 10,000' lateral wells that leverage Callon's existing acreage position
    o Targeting the Lower Spraberry and Wolfcamp A in Midland County
    • Operational capital budget of $75 - $80 million, including drilling and completion and related facilities expenditures (excluding capitalized expenses)
    o Based on attained well costs for laterals completed with approximately 1,500 pounds of proppant per foot
     $4.2 million for a 5,000' drilled lateral length well
     $5.8 million for a 9,000' drilled lateral length well
    o Approximately 60% of operational capital accrued in the first half of 2016

    Callon Petroleum is well positioned to weather a rough commodity environment, the firm noted.
    NATCHEZ, Miss., Feb. 1, 2016 /PRNewswire/ -- Callon Petroleum Company (NYSE: CPE) ("Callon" or the "Company") today announced its outlook for 2016 activity and an operational update, including revised fourth quarter 2015 guidance estimates and proved reserve estimates for the year ended December 31, 2015.
    • Expected fourth quarter 2015 net daily production of 10,500 – 10,700 barrels of oil equivalent per day ("BOE/d"), comprised of 79% - 81% oil volumes
    • Expected fourth quarter 2015 lease operating expense of $6.40 – $6.60 per barrel of oil equivalent ("BOE")
    • Forecasted 2016 net daily production range of 11,500 – 12,000 BOE/d (78% - 80% oil) with an associated operational capital budget of $75 - $80 million
    • Estimated total (two-stream) proved reserves of 54.3 million barrels of oil equivalent ("BOE") at December 31, 2015, an increase of 65% over the prior year-end, of which 80% are comprised of oil volumes and 53% are classified as proved developed
    • Continued strong performance of the Lower Spraberry program, supporting a type curve in excess of 1 million BOE for a normalized 7,500' drilled lateral well
    • Completion of an incremental working interest acquisition in the Casselman-Bohannon focus area
    • Addition of oil and natural gas hedges, increasing total portfolio to 63% and 37%, respectively, of expected 2016 volumes based on midpoint estimates
    Fred Callon, Chairman and CEO, commented "We delivered exceptional operational results in 2015 while pivoting our focus to our highest return investment opportunities in a difficult commodity environment. Achieved reductions in operating cost structure and well costs, combined with sustained performance from our Lower Spraberry program that has exceeded expectations, have positioned us to deliver returns on invested capital per well in excess of 30% at current strip pricing. As a result, Callon continues to generate capital efficient production growth while adding reserves at less than $10 per BOE based on our achieved cost to date. While these resilient returns support continued capital allocation, we also remain committed to achieving our goal of aligning corporate net cash flows with our capital spending in 2016.

    Sentiment: Strong Buy

  • Reply to

    Make America great again!!!!

    by trmmara Feb 8, 2016 2:27 PM

    Mexico said they will not pay for a lunatics wall. GRANDMA don't want to go over the cliff with their kids new born, and NO ONE will pay for immigration. WE are DONE with MIDDLE EAST WARS, DONE with tRUMPS bible in one hand and a casino the tax payers bought in the other. His name is on it and investors and bond holders paid for it twice. THE idiots (GOP) are looking for a birth certificate, inflation, and a real candidate born American. The KOCKH backed GOP RUBIO

  • Reply to

    Make America great again!!!!

    by trmmara Feb 8, 2016 2:27 PM

    BUT tRUMP must make the world scared of all our BOMBS and CRUZ must carpet bomb the whole middle east looking for a country less extreme group. You know according to the GOP (Their all the same) Kill all non-white, catholic and rich. . WE can all hate every MUSLEM through out the world and blame somebody for two needless wars/debt over their based on lies. Making America great though BUSHES 3rd try to end all wars over there. IMMIGRANTS must be removed at (((( all)))) cost $$$$$$$$$$$$$ DA ..... tRUMP cant add. That would explain the BKs and immigrant wives, mom and indecisive dealings, renegotiated terms, contracts and nothing means nothing to a flipper of ALL morals and ideologies. What we cant get is another Canadian pres. TEA bagging sissies that want babies and let them starve . We the tea party will through MOMS

  • An initial 2016 capital expenditure budget of $200 million has been authorized by Stone’s Board of Directors. Of the total, about 80–85% has been assigned to the Gulf of Mexico (GoM) basin, 3–5% to Appalachia and 10–15% for abandonment expenditures. Capex for 2016 is down 56.5–57.4% from $460–$470 million estimated for 2015. HEDGING - We now have about around 30% of our 2016 oil hedge at an average price of around 60. On the gas side, I think we have about 20 million Btus hedges that a little over $4. Remember, most of our gas has been Appalachia, so we've got a couple of gas hedges there really would address our current volumes. That will change when Amethyst comes on, but again we're in a 100% share at excite timing or the exact amount, so some of our hesitation on putting in gas hedges stems from the location of our volumes The ENSCO 8503 deep water drilling rig recently finished completion operations and a well test at the Amethyst well. The well is projected to start production by Jan 2016, with an expected initial production rate of about 40–60 million cubic feet of gas equivalent per day (Mmcfepd) after clean up. Stone also installed and mobilized an H&P platform drilling rig on its Pompano platform to commence a development drilling program comprising one workover project and three to four development wells during the fourth quarter. Drilling operations at the deep water Vernaccia exploration prospect were concluded in Nov 2015. BUYING NOW ! - California State Teachers Retirement System raised its position in shares of Stone Energy by 1.9% in the fourth quarter. California State Teachers Retirement System now owns 106,026 shares of the company’s stock worth $455,000 after buying an additional 1,976 shares during the period. Acadian Asset Management acquired a new position in shares of Stone Energy during the fourth quarter worth about $828,000. ICON Advisers acquired a new position in shares of Stone Energy during the third quarter worth about $2,911,000. Finally, Mackay Shields raised its position in shares of Stone Energy by 19.2% in the fourth quarter. Mackay Shields now owns 61,227,000 shares of the company’s stock worth $45,529,000 after buying an additional 9,865,000 shares during the period. ANALYST still like it – 2/5 /2016- Stone Energy Co. (NYSE:SGY) – Equities researchers at Imperial Capital cut their FY2015 EPS estimates for shares of Stone Energy in a research note issued to investors on Wednesday, Zacks reports. Imperial Capital analyst K. Pacanovsky now forecasts that the firm will earn ($0.57) per share for the year, down from their prior forecast of ($0.53). Imperial Capital currently has a “In-Line” rating and a $2.27 price target on the stock. The consensus estimate for Stone Energy’s FY2015 earnings is ($0.46) per share. Imperial Capital also issued estimates for Stone Energy’s Q4 2015 earnings at ($0.02) EPS, Q1 2016 earnings at ($0.54) EPS, Q2 2016 earnings at ($0.43) EPS, Q3 2016 earnings at ($0.31) EPS, Q4 2016 earnings at ($0.07) EPS, FY2016 earnings at ($1.34) EPS, Q1 2017 earnings at $0.05 EPS, Q2 2017 earnings at $0.05 EPS, Q3 2017 earnings at $0.17 EPS, Q4 2017 earnings at $0.15 EPS and FY2017 earnings at $0.42 EPS. Several other research firms have also commented on SGY. Canaccord Genuity reissued a “buy” rating and issued a $3.50 target price on shares of Stone Energy in a report on Wednesday, November 11th. Scotiabank reissued a “sector outperform” rating on shares of Stone Energy in a report on Thursday, December 3rd. KLR Group dropped their target price on Stone Energy from $13.00 to $9.00 in a report on Thursday, October 15th. FBR & Co. reissued an “outperform” rating and issued a $14.00 target price (up previously from $9.00) on shares of Stone Energy in a report on Monday, November 2nd. Finally, Barclays dropped their target price on Stone Energy from $7.00 to $4.50

  • Shorts will be covering, longs buying nd day traders and market makers buying all they can. Short term run coming .

  • %, Consol Energy Inc., down 77%, and Southwestern Energy Co., down 74%. Left for DEAD DUMPSTER DIVING TIME!!!!!! WE have the hedges between 30% and 50% of our production all the way out through 2016 and we continue to do that and do that hedging. We do creative ways to basically hedge and it’s not in the financial markets but other activities to do that. ITS PERFORMACE we will certainly look at creative ways to hedge. We will look at hedging at the appropriate time. And when you talk about historical numbers, typically, we’re somewhere between 40% and 60% hedged in any given year. I would love to have some good hedges on in that range. And if I put those on, maybe we do go a little bit higher. SOWTHWEST is the third largest producer of natural gas in the US Lower 48, Southwestern Energy Company is a growing independent energy company primarily engaged in natural gas and crude oil exploration, development and production. We are also focused on creating and capturing additional value through our natural gas gathering and marketing businesses, which we refer to as Midstream Services. *** They are focused on the development of natural gas in the Fayetteville Shale in Arkansas and the Marcellus Shale in Pennsylvania, and the exploration of oil and natural gas in other new venture plays in North America *** Our Midstream Services segment, which primarily supports our E&P operations. Midstream Services generates revenue from gathering fees associated with the transportation of natural gas to market and through the marketing of our own gas production and some third-party natural gas. SWN Midstream Company subsidiary DeSoto Gathering Company operates one of the largest gathering systems in the U.S., providing gathering, treating and compression services to SWN and non-affiliated producers in the Fayetteville Shale area of Arkansas. At year-end 2014, DeSoto gathered approximately 2.4 Bcf per day through 2,017 miles of gathering lines and 590,975 horsepower of compression equipment. DeSoto’s highly-integrated system offers its shippers the market optionality of deliveries into five interstate pipelines. • Market Data as of November 30, 2015 •
    Institutional Ownership – 92.2% Management and Board Ownership – 0.9%
    Shares of Common Stock Outstanding – 384,500,000 Market Capitalization – $3,464,000,000 NYSE: SWN
    52-Week Price Range – $8.74 (11/27/15) – $31.20 (12/1/15) Investment Grade Credit Rating – Moody’s (Baa3); S&P (BBB-); Fitch (BBB-) FUNDEMENTALS- Average return on equity(1) of 15% over the past three years – Target $1.30 of present value cash flow, discounted at 10%, for each dollar invested (defined as 1.3 PVI) – Commitment to maintain investment grade credit profile
    • Differentiating focus on low-cost structure with proven track record – From 2009 – 2014: • 21% compound annual production growth and per share growth • 24% compound annual reserve growth and per share growth – Cash operating costs(2) of $1.25 per Mcfe for the nine months ended September 30, 2015 Northeast Appalachia• We hold approximately 312,000 net acres in Northeast Pennsylvania. • Gross operated production was 1,237 MMcf/d from 393 operated horizontal wells as of September 30, 2015. • We plan to drill 88 to 92 operated horizontal wells in 2015. Fayetteville Shale Focus Area• SWN holds approx. 888,000 net acres in the Fayetteville Shale play. • SWN discovered the Fayetteville Shale and has first mover advantage – average acreage cost of $320 per acre with a 15% royalty and average working interest of 74%. • We plan to drill approximately 235 to 245 operated horizontal wells in 2015. The company also engages in the exploration and production activities in Colorado, Louisiana, and Texas; and in the Arkoma Basin in Arkansas and Oklahoma.

  • educate yourself

  • the break even is under 50 dollars and most of it hedged . Go back to school

  • WLL is hedged 45% through 2016. Hedges are well placed . 38% of these hedges are in the form of a three-way spread and the remaining 7% are from a collar
    December 2015 investor presentation metrics based on $50 oil are hat the maret predicts for second half 216. EVEN opec SAY THAT WILL BE THE CASE IN 2016 AFTER A BREIF FALL
    35 $ WTI oil would not be a pleasant situation for Whiting, its. IT would be able to go until late 2017 without violating its credit facility covenants. Then the limited CAPX spending should drive oil higher.
    Getting its covenants relaxed or trimming capital expenditures could increase the amount of time Whiting can deal with $30 oil.

    Midstream asset sales can cover the majority of 2016 cash burn at $30 oil or the majority of 2016 and 2017 cash burn at $40 oil.
    Costs are partially correlated with oil prices, so $30 oil would involve a modest reduction in costs, while $70 oil would probably see a modest increase.



    Whiting (NYSE:WLL) is levered up to a 1.09 debt-to-equity ratio.
    The company reported adjusted EPS at ($0.17), better than the consensus expectation of ($0.25) and Iberia's estimate of ($0.39). The EPS beat is likely to have been driven by marginally higher realizations, lower operating costs, and a lower tax rate, analyst Eli Kantor said. OIL Falling like it did the reserves and assets must be priced to keep the books in line. This always spooks some with huge write offs. ITS Time to buy. Production rose 38 percent to 160,590 barrels of oil equivalent per day (boe/d) even as the average price Whiting received for its oil fell 49 percent. Reuters report, the company effectively paid $23.77 per barrel for Whiting's proven reserves, KODIAK. Costsin the BAKKEN have come way down as wells go in 25% cheaper and with its newest completion method driving a 44% increase in production from wells drilled. Biggest North Dakota Bakken area and the reserves will should be worth more in the future . As oil returns to a normal level these assets will appreciate and send the stock higher. IT’S A new day in oil as technologies have made 50 dollar oil like 80 and 90 $ dollar oil. Whiting’s liquidity position remains strong. Liquidity at the end of Q3/15 consisted of ~$38M in cash and an undrawn revolver with a $3.5B commitment level and $4.0B borrowing base. The borrowing base was recently reduced from $4.5B, while the commitment level remained unchanged. 20-15, Whiting has sold ~$400M of assets and anticipates further non-core asset sales in the near term. A larger midstream sale is also possible. We are modeling the company to be close to cash flow breakeven through the end of 2017. With ~$3.6B of liquidity and no meaningful debt maturities until 2019, Whiting looks to be in very good shape from a financial perspective and in our view is an attractive takeover target in what we believe will be an accelerating M&A environment in 2016.We are a top crude oil producer in North Dakota and operate substantial assets in northern a top crude oil producer in North Dakota and operate HeadWhiting Petroleum Corporation is one of the largest independent exploration and production companies in the USA with an oil focused asset base.

  • Reply to

    Is the deal off?

    by dudethattrades Feb 8, 2016 1:53 PM
    rchites rchites Feb 8, 2016 7:24 PM Flag

    THATS BS !!!!! The enterprise value is over the debt and this stock has value. left to be taken over around this price. Its a good price right here as EV is thought to be the take over price. IF this supply glut last though 2016 maybe a buck could be right but not know. Give me a buck and I would buy like no tomorrow.

  • rchites rchites Feb 5, 2016 10:18 AM Flag

    That times.25 cents at the open puts the market cap at 2.5 million. Wow... Somebody could steel the whole company. Wow

  • rchites by rchites Feb 5, 2016 10:08 AM Flag

    Started about . 25 and now .37. Up 46%. Going to over the counter stocks. I just put some in my 401k. It's worth s spec play status down here. Going to the OTC board has more to do with the market cap and vacation of the stock price and not fundamentals.

  • Reply to

    Everyone loses at these prices..

    by mjs7421 Feb 2, 2016 10:43 AM
    rchites rchites Feb 4, 2016 6:01 AM Flag

    like buy all the small caps and raise the prize per barrel. YES PRIZE!!!! FREE shares for the Saudis.

  • Reply to

    WAIT FOR $1

    by game.over_bagholders Feb 2, 2016 12:20 PM
    rchites rchites Feb 4, 2016 5:59 AM Flag

    maybe you can buy a brain with your 1 dollar share. SEE you as it double.

  • Reply to

    broker said: BTE is the Best stock to own

    by net_box Jan 30, 2016 8:20 AM
    rchites rchites Feb 3, 2016 4:59 PM Flag

    2016 we have entered into hedges on approximately 40% of our net WTI exposure with 16% fixed at US$63.64/bbl and 24% hedged utilizing a three-way collar structure of US$40/US$50/US$60 per WTI barrel. This three-way collar structure is more fully described in our Q3/2015 MD&A as filed on SEDAR. Report on CNBC DEC 31, as analyst liked the stock. Down from 60$ range these small caps are destroyed. Many could go BK but many like GST, HK, BBG , SYRG, WLL, SN have solid hedges to make there positions a lot stronger. These have been put in the same boat with the others loosing vast amounts of capital with out cash flows from derivatives. . BTE got hit hard as it suspended the dividend as most the industry conserving cash. It could have a technical rally soon. It will instead use that cash to bolster its balance sheet, and will reinstate a dividend when commodity prices recover enough to support it.

  • Reply to

    looking to buy

    by riverrunski Feb 2, 2016 1:41 PM
    rchites rchites Feb 3, 2016 4:56 PM Flag

    see you at 5 dollars succcker

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