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Why Callon Petroleum Stock Is Surging Today

·2 min read
Why Callon Petroleum Stock Is Surging Today

Shares of Callon Petroleum (NYSE: CPE) rallied 11% by 2:30 p.m. EDT on Monday. Fueling the oil stock was a proposed debt offering. Callon Petroleum announced today it intends to offer $650 million of senior unsecured notes due in 2028.