5 Aug 2015quarterly activities report▼ Bad
Callon Petroleum Co reported a quarterly net loss of $5.0 million for the period ended 2015-06-30.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
5 Aug 2015quarterly activities report▼ Bad
Callon Petroleum Co reported a quarterly net loss of $5.0 million for the period ended 2015-06-30.
28 July 2015substantial holder notice● Neutral
Brenham Capital Management, L.P, Brenham Management, LLC, Brenham Master Fund, L.P, John Labanowski disclosed a new substantial Callon Petroleum Co shareholding (6.50% of votes).
7 May 2015quarterly activities report▼ Bad
Callon Petroleum Co reported a quarterly net loss of $10.2 million for the period ended 2015-03-31.
7 May 2015quarterly activities report▼ Bad
Callon Petroleum Co reported a quarterly net loss of $10.2 million for the period ended 2015-03-31.
13 Mar 2015substantial holder notice● Neutral
LONE STAR VALUE INVESTORS, LP, LONE STAR VALUE CO-INVEST I, LP, LONE STAR VALUE INVESTORS GP, LLC, LONE STAR VALUE MANAGEMENT, LLC, JEFFREY E. EBERWEIN reported a Callon Petroleum Co shareholding of 2,936,000 shares (4.50% of votes) in a periodic institutional filing.
10 Mar 2015material agreement▼ BadMajor
Callon priced a new offering of 9,000,000 common shares at $6.55 each (about $59 million gross), with a 30-day option for 1,350,000 more, led by J.P. Morgan. It plans to use the net proceeds to repay its credit facility, with any remainder for general corporate purposes. This is another share sale after the September 2014 offering, and it dilutes existing shareholders (inference), at a price well below the $9.00 paid in 2014.
10 Mar 2015securities registration● Neutral
Callon Petroleum Co filed a prospectus supplement for an offering off its existing shelf.
9 Mar 2015securities registration● Neutral
Callon Petroleum Co filed a prospectus supplement for an offering off its existing shelf.
12 Feb 2015substantial holder notice● Neutral
Wellington Management Group LLP reported a Callon Petroleum Co shareholding of 5,757,856 shares (10.43% of votes) in a periodic institutional filing.
12 Feb 2015securities registration● Neutral
Callon Petroleum Co registered a securities offering with the SEC using its shelf eligibility.
10 Feb 2015substantial holder notice● Neutral
Franklin Resources, Inc, Charles B. Johnson, Rupert H. Johnson, Jr, Franklin Advisers, Inc reported a Callon Petroleum Co shareholding of 5,788,627 shares (10.50% of votes) in a periodic institutional filing.
29 Jan 2015substantial holder notice● Neutral
BlackRock, Inc reported a Callon Petroleum Co shareholding of 3,592,907 shares (6.50% of votes) in a periodic institutional filing.
10 Dec 2014substantial holder notice● Neutral
Wellington Management Company, LLP reported a Callon Petroleum Co shareholding of 6,242,572 shares (11.30% of votes) in a periodic institutional filing.
6 Nov 2014quarterly activities report● Neutral
Callon Petroleum Co reported a quarterly net income of $12.2 million for the period ended 2014-09-30.
5 Nov 2014quarterly activities report● Neutral
Callon Petroleum Co reported a quarterly net income of $12.2 million for the period ended 2014-09-30.
30 Oct 2014substantial holder notice● Neutral
LONE STAR VALUE INVESTORS, LP, LONE STAR VALUE CO-INVEST I, LP, LONE STAR VALUE INVESTORS GP, LLC, LONE STAR VALUE MANAGEMENT, LLC, JEFFREY E. EBERWEIN disclosed a new substantial Callon Petroleum Co shareholding (5.10% of votes).
14 Oct 2014asset acquisition disposition● NeutralMajor
Callon closed the Midland Basin acquisition on Oct 8, 2014 for about $205 million in cash (3,862 net surface acres in Midland, Andrews, Martin and Ector Counties), slightly below the $212.6 million first announced. It paid with the equity offering proceeds and a new $300 million second lien term loan (LIBOR with a 1% floor plus 7.50%, due Oct 8, 2021), which replaced the $125 million second lien loan, and set the revolver's borrowing base at $250 million. This resolves the pending acquisition and the committed financing, though the new term loan is larger than the $275 million originally committed.
15 Sept 2014material agreement● NeutralMajor
Callon sold 12,500,000 new common shares at $9.00 each through underwriters led by Johnson Rice and Scotia Capital, and the underwriters exercised their option for 1,875,000 more shares on Sept 12. Net proceeds of about $122 million, plus a planned new second lien term loan, are meant to pay for the pending Permian acquisition announced Aug 29. If that deal does not close, the money goes to drilling and general corporate purposes. This issues new shares, so existing common holders are diluted (inference from the share issue).
10 Sept 2014securities registration● Neutral
Callon Petroleum Co filed a free-writing prospectus - marketing material for an offering in progress.
10 Sept 2014securities registration● Neutral
Callon Petroleum Co filed a prospectus supplement for an offering off its existing shelf.
8 Sept 2014securities registration● Neutral
Callon Petroleum Co filed the final prospectus for a registered offering.
4 Sept 2014material agreement▲ GoodMajor
Callon agreed to buy undeveloped acreage and producing properties in Midland, Andrews, Martin and Ector Counties, Texas for $212.6 million cash, effective May 1, 2014, giving it operatorship and an estimated 62% working interest. Closing is expected in early October 2014 and is subject to due diligence and other conditions. Callon has a commitment from JPMorgan to raise its revolver to $500 million (initial borrowing base $250 million) and replace its second lien loan with a $275 million one to pay for it, which means more debt after the earlier Gulf of Mexico sales.
6 Aug 2014quarterly activities report● Neutral
Callon Petroleum Co reported a quarterly net income of $4.7 million for the period ended 2014-06-30.
6 Aug 2014quarterly activities report● Neutral
Callon Petroleum Co reported a quarterly net income of $4.7 million for the period ended 2014-06-30.
22 July 2014substantial holder notice● Neutral
LONE STAR VALUE INVESTORS, LP, LONE STAR VALUE CO-INVEST I, LP, LONE STAR VALUE INVESTORS GP, LLC, LONE STAR VALUE MANAGEMENT, LLC, JEFFREY E. EBERWEIN reported a Callon Petroleum Co shareholding of 1,730,300 shares (4.30% of votes) in a periodic institutional filing.
8 May 2014quarterly activities report● Neutral
Callon Petroleum Co reported a quarterly net income of $1.9 million for the period ended 2014-03-31.
8 May 2014quarterly activities report● Neutral
Callon Petroleum Co reported a quarterly net income of $1.9 million for the period ended 2014-03-31.
12 Mar 2014debt financing● NeutralMajor
Callon replaced its credit arrangements with a $500 million revolving credit agreement led by JPMorgan (initial borrowing base $95 million, maturing March 11, 2019) and a $125 million second lien term loan (initial commitment $100 million, maturing in 5.5 years). It also gave notice to redeem the remaining $48,480,500 of its 13.00% Senior Notes due 2016 on April 11, 2014 at 103.250% of principal, funded by the first second-lien advance. This completes the note redemption partly funded earlier by the Gulf of Mexico sale proceeds.
12 Mar 2014substantial holder notice● Neutral
LONE STAR VALUE INVESTORS, LP, LONE STAR VALUE CO-INVEST I, LP, LONE STAR VALUE INVESTORS GP, LLC, LONE STAR VALUE MANAGEMENT, LLC, JEFFREY E. EBERWEIN, MATTHEW REGIS BOB reported a Callon Petroleum Co shareholding of 2,480,000 shares (6.10% of votes) in a periodic institutional filing.