16 May 2016director interest notice● Neutral
Callon Petroleum Co director Michael L Finch acquired 17,319 shares and disposed of 4,990 in a set of related equity transactions.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
16 May 2016director interest notice● Neutral
Callon Petroleum Co director John C Wallace acquired 33,173 shares and disposed of 20,844 in a set of related equity transactions.
16 May 2016director interest notice● Neutral
Callon Petroleum Co director James M Trimble acquired 21,502 shares and disposed of 9,173 in a set of related equity transactions.
16 May 2016director interest notice● Neutral
Callon Petroleum Co director Larry D Mcvay acquired 33,173 shares and disposed of 20,844 in a set of related equity transactions.
16 May 2016director interest notice● Neutral
Callon Petroleum Co director L Richard Flury acquired 33,173 shares and disposed of 20,844 in a set of related equity transactions.
16 May 2016director interest notice● Neutral
Callon Petroleum Co director Anthony J Nocchiero acquired 33,173 shares and disposed of 20,844 in a set of related equity transactions.
4 May 2016quarterly activities report▼ Bad
Callon Petroleum Co reported a quarterly net loss of $41.1 million for the period ended 2016-03-31.
4 May 2016quarterly activities report▼ Bad
Callon Petroleum Co reported a quarterly net loss of $41.1 million for the period ended 2016-03-31.
21 Apr 2016securities registration● Neutral
Callon Petroleum Co filed a prospectus supplement for an offering off its existing shelf.
21 Apr 2016material agreement● NeutralMajor
Callon priced an underwritten offering of 22,000,000 common shares at $8.50 each (about $187 million gross), with a 30-day option for 3,300,000 more, led by Credit Suisse. Proceeds are to fund the pending Big Star acquisition and the Reagan County AMI deal announced the same day; this is the fourth share sale in the context, priced above the March 2016 price of $6.50, and it dilutes existing holders (inference).
19 Apr 2016capital raising announcement● NeutralMajor
Callon agreed to buy oil and gas properties and undeveloped acreage in the Midland Basin from BSM Energy, Crux Energy and Zaniah Energy (the Big Star deal) for $220 million in cash plus 9,333,333 Callon shares, with a $16.5 million deposit. The deal was expected to close May 26, 2016, and would give Callon an estimated 81% average working interest. It also signed a separate $33 million net cash deal with TRP Midland to jointly buy about 4,745 net acres in western Reagan County (55% Callon) while selling TRP a 27.5% interest in Garrison Draw; this firms up the Reagan County acquisition previously seen only in a press release. Issuing the shares to the sellers will add to the share count (inference).
19 Apr 2016securities registration● Neutral
Callon Petroleum Co filed a prospectus supplement for an offering off its existing shelf.
5 Apr 2016securities registration● Neutral
Callon Petroleum Co filed an automatic shelf registration, effective immediately as a well-known seasoned issuer.
8 Mar 2016auditor change● Neutral
Callon confirmed that Grant Thornton became its auditor when the 2015 Form 10-K was filed, for the year ending December 31, 2016. This completes the auditor switch first announced in January 2016; the filing says the decision followed the audit committee's annual review and proposals from several firms.
4 Mar 2016material agreement▼ BadMajor
Callon priced an upsized offering of 13,265,000 common shares at $6.50 each (about $86.2 million gross), with a 30-day option for 1,985,000 more, via Credit Suisse and J.P. Morgan. Proceeds are to repay the senior secured revolver, which was used in part for recent acquisitions, with the remainder for general purposes including future Permian acquisitions. This is the third share sale since September 2014, priced below the $8.40 of November 2015, and further dilutes existing holders (inference).
4 Mar 2016securities registration● Neutral
Callon Petroleum Co filed a prospectus supplement for an offering off its existing shelf.
3 Mar 2016securities registration● Neutral
Callon Petroleum Co filed a prospectus supplement for an offering off its existing shelf.
1 Mar 2016material agreement● Neutral
Callon reached an agreement with Lone Star Value Management, the investor that had reported holdings in 2014. The board will nominate Michael Finch, Larry McVay and John Wallace for re-election to three-year terms at the 2016 annual meeting, Wallace intends to resign after two years, and Lone Star agreed to vote for the company's nominees. This settles board representation ahead of the annual meeting.
23 Feb 2016substantial holder notice● Neutral
Point, Cubist Systematic Strategies, LLC, Steven A. Cohen disclosed a new substantial Callon Petroleum Co shareholding (5.10% of votes).
12 Feb 2016substantial holder notice● Neutral
Brenham Capital Management, L.P, Brenham Management, LLC, Brenham Master Fund, L.P, John Labanowski reported a Callon Petroleum Co shareholding of 4,000,000 shares (5.00% of votes) in a periodic institutional filing.
11 Feb 2016substantial holder notice● Neutral
Wellington Management Group LLP, Wellington Group Holdings LLP, Wellington Investment Advisors Holdings LLP, Wellington Management Company LLP reported a Callon Petroleum Co shareholding of 8,147,867 shares (10.17% of votes) in a periodic institutional filing.
4 Feb 2016substantial holder notice● Neutral
Franklin Resources, Inc, Charles B. Johnson, Rupert H. Johnson, Jr, Franklin Advisers, Inc reported a Callon Petroleum Co shareholding of 4,196,847 shares (5.40% of votes) in a periodic institutional filing.
26 Jan 2016substantial holder notice● Neutral
BlackRock, Inc reported a Callon Petroleum Co shareholding of 4,355,557 shares (6.60% of votes) in a periodic institutional filing.
15 Jan 2016auditor change● Neutral
Callon's audit committee approved hiring Grant Thornton as auditor for 2016 and told Ernst & Young it will be dismissed no later than the filing of the 2015 Form 10-K. The filing says this followed an annual review and proposals from several firms, and reports no disagreements with E&Y and no adverse or qualified opinions in 2013 and 2014.
4 Jan 2016substantial holder notice● Neutral
Integrated Assets, Ltd, Millennium International Management LP, Millennium International Management GP LLC, Millennium Management LLC, Israel A. Englander disclosed a new substantial Callon Petroleum Co shareholding (6.00% of votes).
10 Nov 2015material agreement● NeutralMajor
Callon priced an upsized offering of 12,000,000 common shares at $8.40 each (about $100.8 million gross), with a 30-day option for 1,800,000 more, via J.P. Morgan and Credit Suisse. Proceeds are to repay the credit facility, which the filing says was used in part to finance recent acquisitions, with any remainder for general purposes including future acquisitions. This is the second share sale of 2015 and dilutes existing holders (inference).
10 Nov 2015securities registration● Neutral
Callon Petroleum Co filed a prospectus supplement for an offering off its existing shelf.
9 Nov 2015securities registration● Neutral
Callon Petroleum Co filed a prospectus supplement for an offering off its existing shelf.
5 Nov 2015quarterly activities report▼ Bad
Callon Petroleum Co reported a quarterly net loss of $111.8 million for the period ended 2015-09-30.
4 Nov 2015quarterly activities report▼ Bad
Callon Petroleum Co reported a quarterly net loss of $111.8 million for the period ended 2015-09-30.