Callon Petroleum Co. (CPE)

Callon Petroleum Company engages in the acquisition, exploration, development, and production of oil and gas properties in the onshore and offshore Gulf Coast region, the United States. As of December 31, 2008, its estimated net proved reserves totaled 54.8 billion cubic feet of natural gas equivalent, including 6.0 million barrels of oil and 18.7 billion cubic feet of natural gas. The company owned working interests in a total of 86 blocks/leases covering 193,000 net acres. Callon Petroleum Company was founded in 1950 and is headquartered in Natchez, Mississippi.

For the nine months ended 30 September 2006, Callon Petroleum Company's revenues rose 18% to $137.5M. Net income applicable to Common rose 57% to $34.7M. Revenues reflect increase in sales of oil due to higher product prices and higher sales of gas due to higher production from new wells at East Cameron. Net income also reflects increased operating margins, decreased derivative expenses and lower interest expenses.