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Callon Petroleum Company Issues Guidance For Third Quarter, Full Year 2009
Posted by: gurufocus (IP Logged)
Date: August 6, 2009 06:31PM
Press Release: Callon Petroleum Company Issues Guidance For Third Quarter, Full Year 2009
NATCHEZ, Miss.--(BUSINESS WIRE)--Callon Petroleum Company (NYSE: CPE) is issuing guidance for the third quarter and confirming production guidance for full year 2009. The guidance, found in the table below, is expressed in ranges for the detailed components.
The preceding guidance estimates contain assumptions that we believe are reasonable. These estimates are based on information that is available as of the date of this news release. We are not undertaking any obligation to update these estimates as conditions change or as additional information becomes available.
Listed below are the outstanding hedges for crude oil for the remainder of 2009 shown in volumes per quarter.
Callon Petroleum Company is engaged in the acquisition, development, exploration and operation of oil and gas properties in the Gulf Coast region. The majority of Callon’s properties and operations are concentrated in the offshore waters of the Gulf of Mexico.
This news release is posted on the company’s website at www.callon.com and will be archived there for subsequent review. It can be accessed from the “News Releases” link on the left side of the homepage.
This news release contains projections and other forward-looking statements (including statements about fiscal fourth quarter and full-year financial and operating performance) within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These projections and statements reflect the company’s current views with respect to future events and financial performance. No assurances can be given, however, that these events will occur or that these projections will be achieved and actual results could differ materially from those projected as a result of certain factors. Some of the factors which could affect our future results and could cause results to differ materially from those expressed in our forward-looking statements include:
The preceding estimates reflect our review of continuing operations only. These estimates do not take into account any material transactions such as sales of debt and equity securities, acquisitions or divestitures of assets, and formations of joint ventures. We continually review these types of transactions and may engage in one or more of these types of transactions without prior notice.
Stocks Discussed: CPE,