6 Mar 2024director interest notice● Neutral
Callon Petroleum Co director Mary Shafer-malicki received a stock option grant for 5,230 shares.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
6 Mar 2024director interest notice● Neutral
Callon Petroleum Co director Matthew Regis Bob received a stock option grant for 5,230 shares.
6 Mar 2024director interest notice● Neutral
Callon Petroleum Co SVP,Chief Sustain Officer & GC Michol L Ecklund received a stock option grant for 50,859 shares.
6 Mar 2024director interest notice● Neutral
Callon Petroleum Co director James E Craddock received a stock option grant for 5,230 shares.
23 Feb 2024business combination▲ GoodMajor
Callon said the US antitrust (HSR) waiting period for the APA merger expired on February 22, 2024, clearing that closing condition. Assuming both shareholder votes pass, Callon expects the merger to close on or about April 1, 2024. The Form S-4 was declared effective February 15, 2024, and the proxy materials were mailed from about February 16.
16 Feb 2024business combination● NeutralMajor
Callon filed its final joint proxy statement with APA for the merger, setting both shareholder votes for March 27, 2024; both boards unanimously recommend voting yes. The 1.0425-for-1 exchange was worth about $38.31 per Callon share on Jan 3, 2024 and about $32.58 on Feb 15, 2024, because the ratio is fixed and APA's price moves. Callon holders would own about 19% of APA after the deal.
13 Feb 2024substantial holder notice● Neutral
The Vanguard Group reported a Callon Petroleum Co shareholding of 6,740,575 shares (9.95% of votes) in a periodic institutional filing.
9 Feb 2024substantial holder notice● Neutral
Dimensional Fund Advisors LP disclosed a new substantial Callon Petroleum Co shareholding (5.00% of votes).
23 Jan 2024substantial holder notice● Neutral
BlackRock, Inc reported a Callon Petroleum Co shareholding of 9,006,736 shares (13.30% of votes) in a periodic institutional filing.
4 Jan 2024business combination● NeutralMajor
Callon agreed to merge with APA Corporation: each Callon share would convert into 1.0425 APA shares, with Callon surviving as an APA subsidiary. It needs approval from both companies' shareholders, antitrust (HSR) clearance and other conditions, with an outside date of October 3, 2024 (extendable). Break fees are $85 million payable by Callon or $170 million payable by APA in specified circumstances.
1 Nov 2023quarterly activities report● Neutral
Callon Petroleum Co reported a quarterly net income of $119.5 million for the period ended 2023-09-30.
1 Nov 2023quarterly activities report● Neutral
Callon Petroleum Co reported a quarterly net income of $119.5 million for the period ended 2023-09-30.
10 Oct 2023quarterly activities report● Neutral
Callon Petroleum Co reported a quarterly net income of $119.5 million for the period ended 2023-09-30.
3 Oct 2023director interest notice● Neutral
Callon Petroleum Co SVP,General Counsel & Corp Sec Michol L Ecklund received a stock option grant for 20,000 shares.
2 Aug 2023material agreement termination▲ Good
On August 2, 2023, Callon paid off all $187.2 million of its 8.250% Senior Notes due 2025 at par plus accrued interest and discharged the indenture, releasing Callon and the guarantors from the remaining obligations. This completes the redemption announced in July after the Eagle Ford sale.
2 Aug 2023quarterly activities report▼ Bad
Callon Petroleum Co reported a quarterly net loss of $107.9 million for the period ended 2023-06-30.
2 Aug 2023quarterly activities report▼ Bad
Callon Petroleum Co reported a quarterly net loss of $107.9 million for the period ended 2023-06-30.
13 July 2023substantial holder notice● Neutral
Percussion Petroleum Management II, LLC, Percussion Petroleum II, LLC disclosed a new substantial Callon Petroleum Co shareholding (9.20% of votes).
11 July 2023quarterly activities report▼ Bad
Callon Petroleum Co reported a quarterly net loss of $107.9 million for the period ended 2023-06-30.
7 July 2023asset acquisition disposition▲ GoodMajor
Both deals closed on July 3, 2023: Callon bought Percussion for about $248.6 million cash (including repaying about $220.0 million of its debt) plus about $210.0 million in Callon shares, and sold Eagle Ford to Ridgemar for about $551.0 million cash (below the $655.0 million headline price; the filing says purchase prices are subject to adjustments, and does not explain the gap). The press release says debt fell by about $300 million, gross debt is now under $2.0 billion, and the $300 million buyback is now effective, with first purchases planned for Q3 2023. Callon also gave notice to redeem all $187.2 million of its 8.250% notes due 2025 on August 2, 2023.
7 July 2023securities registration● Neutral
Callon Petroleum Co filed an automatic shelf registration, effective immediately as a well-known seasoned issuer.
29 June 2023director interest notice● Neutral
Callon Petroleum Co Senior VP and COO Russell E. Parker received a stock option grant for 54,727 shares.
29 June 2023director interest notice● Neutral
Russell E. Parker became a Callon Petroleum Co Senior VP and COO and company insider (initial ownership filing).
2 June 2023director interest notice● Neutral
Callon Petroleum Co director Steven A Webster bought 7,384 shares on the open market at $30.50.
16 May 2023director interest notice● Neutral
Callon Petroleum Co director Steven A Webster bought 10,000 shares on the open market at $30.25.
11 May 2023director interest notice● Neutral
Callon Petroleum Co director Steven A Webster bought 50,000 shares on the open market.
8 May 2023capital raising announcement▲ GoodMajor
Callon agreed to buy Percussion Petroleum Operating II for $255.0 million ($45.0 million cash, $210.0 million in Callon shares), plus assuming $220.0 million of its debt and earnout obligations of up to $62.5 million tied to oil prices. At the same time it agreed to sell its Eagle Ford subsidiary (the Carrizo-derived Eagle Ford assets, a sale first expected in 2021 but not confirmed) to Ridgemar for $655.0 million cash, with up to $45.0 million more if 2024 WTI averages at least $80. The Percussion deal depends on the Eagle Ford sale closing; both are expected to close July 3, 2023. The board also approved a $300.0 million buyback, effective only once both deals close.
3 May 2023quarterly activities report● Neutral
Callon Petroleum Co reported a quarterly net income of $220.6 million for the period ended 2023-03-31.
3 May 2023quarterly activities report● Neutral
Callon Petroleum Co reported a quarterly net income of $220.6 million for the period ended 2023-03-31.
28 Apr 2023director interest notice● Neutral
Callon Petroleum Co director Mary Shafer-malicki acquired 7,721 shares and disposed of 3,055 in a set of related equity transactions.