|Bid||8.11 x 800|
|Ask||8.12 x 3200|
|Day's Range||8.03 - 8.26|
|52 Week Range||5.57 - 14.65|
|Beta (3Y Monthly)||1.46|
|PE Ratio (TTM)||6.01|
|Earnings Date||May 6, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||11.16|
Callon Petroleum Company has entered into a definitive agreement to divest its non-core assets in the Ranger operating area of the Midland Basin for $260 million cash.
Oil prices have hit a five month high as bullish sentiment continues to grow on the back of violence in Libya and banks hiking their pricing forecasts
Callon Petroleum Co. (NYSE: CPE), which recently moved its headquarters to Houston, will sell some of its noncore Midland Basin assets to an undisclosed buyer. Callon expects to receive initial cash proceeds of $260 million, subject to customary purchase price adjustments, and incremental cash payments of up to $60 million based upon future commodity prices, according to an April 8 press release. The assets are in the Ranger operating area of the southern Midland Basin and include approximately 9,850 net Wolfcamp acres and more than 80 currently producing horizontal wells that have been drilled since 2012. The assets produced an average of about 4,000 barrels of oil equivalent per day in February 2019, and Callon wasn’t planning to invest in any new activity in the area for 2019. The deal will help increase Callon’s “capital efficiency by monetizing lower margin, non-core properties that have not competed for capital on a sustained basis,” Joe Gatto, Callon’s president and CEO, said in the April 8 release.
Callon Petroleum's (CPE) decision to divest certain non-core assets in the Midland Basin is in sync with its strategy of monetizing lower margin, non-core properties.
HOUSTON, April 8, 2019 /PRNewswire/ -- Callon Petroleum Company (CPE) ("Callon" or "we") today announced it has entered into a definitive agreement regarding the sale of certain non-core assets in the Midland Basin for initial cash proceeds of $260 million, subject to customary purchase price adjustments. The agreement also provides for potential incremental cash payments of up to $60 million based upon future commodity prices with upside participation starting at the $60/Bbl West Texas Intermediate level. The proceeds from this divestiture will accelerate our debt reduction initiatives and also provide the opportunity to retire our preferred stock, reducing our cash financing costs.
Want to participate in a research study? Help shape the future of investing tools and earn a $60 gift card! Callon Petroleum Company (NYSE:CPE) shareholders should be happy to see the share price up 13% in the last month. But t...
HOUSTON , April 4, 2019 /PRNewswire/ -- Callon Petroleum Company (NYSE: CPE) plans to host a conference call to discuss its first quarter 2019 financial and operating results. Webcast and Conference Call: ...
Analyzing Key Dynamics of the Oil Market(Continued from Prior Part)Changes in inventory levelsOn March 27, the EIA (U.S. Energy Information Administration) is scheduled to announce last week’s US crude oil inventory data. Any rise up to 1.4 MMbbls
Analyzing Key Dynamics of the Oil Market(Continued from Prior Part)Futures spreadOn March 25, the US crude oil May 2019 futures closed just ~$0.08 above the May 2020 futures. On March 18, the futures spread was at a premium of $0.24. On March
HOUSTON , March 19, 2019 /PRNewswire/ -- Callon Petroleum Company (NYSE: CPE) ("Callon" or the "Company") today announced that senior management plans to participate in the upcoming ...
Front-month futures for West Texas Intermediate crude briefly threatened $59/barrel this morning before pulling back to trade near the flatline. As I have noted many times in my RM columns and elsewhere, much of the volatility in crude oil futures is a creation of traders themselves, and the hedge funds that drive those trades. As very, very few crude oil futures contracts ever see physical settlement, it is just paper chasing paper.
Today we'll look at Callon Petroleum Company (NYSE:CPE) and reflect on its potential as an investment. Specifically, we'll consider its Return On Capital Employed (ROCE), since that will give usRead More...
Crude Oil: A Bear Trap for Traders?(Continued from Prior Part)Changes in inventory levels On March 6, the EIA (U.S. Energy Information Administration) is scheduled to announce last week’s US crude oil inventory data. A rise of less than ~1.7 MMbbls
Crude Oil: A Bear Trap for Traders?(Continued from Prior Part)Futures spreadOn March 4, the US crude oil April 2019 futures closed ~$1.8 below the April 2020 futures. On February 25, the futures spread was at the same discount. On February
Callon is an independent energy company focused on the acquisition, development, exploration and operation of oil and gas properties in the Permian Basin in West Texas. This news release is posted on the Company's website at www.callon.com and will be archived there for subsequent review.
Energy Commodities Impact Upstream Energy Stocks(Continued from Prior Part)Oil-weighted stocks’ returns On February 20–27, our list of oil-weighted stocks fell 3.9%—compared to the 0.4% fall in US crude oil April futures. On average, our list
HOUSTON , Feb. 26, 2019 /PRNewswire/ -- Callon Petroleum Company (NYSE: CPE) ("Callon" or the "Company") today reported results of operations for the three months and full-year ended ...
Will Oil Overcome President Trump's Dislike?(Continued from Prior Part)Futures spread On February 25, US crude oil April 2019 futures closed ~$1.8 below the April 2020 futures. On February 15, the futures spread was at a discount of ~$2.1. On
Energy Sector Diverged from Oil's Rise Last Week(Continued from Prior Part)Energy stocks In the week ending February 22, upstream stock SM Energy (SM) fell the most among the energy stocks under review in this series, which include the following