Last $7.16 USD
Change Today -0.2928 / -3.93%
Volume 2.5M
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As of 1:46 PM 03/5/15 All times are local (Market data is delayed by at least 15 minutes).

callon petroleum co (CPE) Key Developments

Callon Petroleum Company Reports Consolidated Production Results for the Fourth Quarter and Earnings Results for the Fourth Quarter and Year Ended Dec. 31, 2014; Provides Production Guidance for the First Quarter of 2015

Callon Petroleum Company reported consolidated production results for the fourth quarter and earnings results for the fourth quarter and year ended Dec. 31, 2014. For the quarter, the company reported total revenues of $38.4 million, excluding the $7.1 million impact of settled derivative contracts, comprised of oil revenues of $34.4 million and natural gas revenues of $4.0 million. The company reported net income available to common shareholders of $17.0 million and adjusted income, a non-GAAP measure, of $3.1 million, or $0.05 per diluted share, which excludes (net of tax effects): (a) $16.0 million in expenses related to the non-cash, mark-to-market valuation of the company's derivative positions and phantom stock equity awards, (b) $0.1 million of non-recurring G&A expenses and (c) $2.0 million of loss on the early redemption of debt. Discretionary cash flow, a non-GAAP measure was $27.6 million. The fourth quarter of 2014 included $0.5 million for retained asset retirement obligation expenditures related to Gulf of Mexico properties that were divested in the fourth quarter of 2013. Excluding this expenditure attributable to the sold properties, discretionary cash flow from continuing operations was $28.1 million or $0.50 per diluted share. Adjusted EBITDA was $32.935 million compared to $18.656 million a year ago. Average daily production for the quarter was 7,270 BOE/d compared to average daily production of 5,641 BOE/d in the third quarter of 2014. For the year, the company reported total operating revenues of $151,862,000 compared to $102,569,000 a year ago. Income from operations was $38,270,000 compared to $10,664,000 a year ago. Income before income taxes was $60,900,000 compared to $7,391,000 a year ago. Income available to common stockholders was $29,871,000 or $0.65 per diluted share compared to loss available to common stockholders of $323,000 or $0.01 per diluted share a year ago. Net cash provided by operating activities was $94,387,000 compared to $54,475,000 a year ago. Capital expenditures were $232,596,000 compared to $159,724,000 a year ago. For the first quarter of 2015, the company expects total production of 7,800 - 8,100 BOE/d.

Callon Petroleum Company Declares Series A Cumulative Preferred Stock, Payable on March 31, 2015

Callon Petroleum Company announced that it has declared a cash dividend of $1.25 per share, on its 10.0% Series A Cumulative Preferred Stock. The dividend will be paid on March 31, 2015 to stockholders of record as of March 13, 2015.

Callon Petroleum Company to Report Q4, 2014 Results on Mar 04, 2015

Callon Petroleum Company announced that they will report Q4, 2014 results at 5:00 PM, Eastern Standard Time on Mar 04, 2015

Callon Petroleum Company, Q4 2014 Earnings Call, Mar 05, 2015

Callon Petroleum Company, Q4 2014 Earnings Call, Mar 05, 2015

Callon Petroleum Company Announces Retirement of Bobby F. Weatherly as Executive Vice President and Director

Callon Petroleum Company announced that Bobby F. (Bob) Weatherly will be retiring as an employee of the company effective February 15, 2015. Mr. Weatherly served as a Director from 1994 to 2014 and as Executive Vice President and Chief Financial Officer from 2006 to 2014. He will continue as a consultant and serve as Corporate Secretary.

 

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