Callon Petroleum – Oil & Gas 360

APA Corporation increases oil production from Permian basin with $4.5 billion Callon Petroleum acquisition

January 4, 2024

World Oil (WO) – APA Corporation and Callon Petroleum Company have entered into a definitive agreement under which APA will acquire Callon in an all-stock transaction valued at approximately $4.5 billion, inclusive of Callon’s net debt. Under the terms of the transaction, each share of Callon common stock will be exchanged for a fixed ratio of 1.0425 shares of APA

Permian operator Callon Petroleum mulls options amid buyer interest

December 18, 2023

World Oil (Bloomberg) — Permian Basin operator Callon Petroleum Co. is considering strategic options amid takeover interest from rival oil and gas players, people familiar with the matter said, as dealmaking accelerates in the U.S. energy industry. The Houston-based company has been working with an adviser to study possibilities including a potential sale, said the people, who asked to not

Callon to acquire core Delaware basin assets and exit Eagle Ford

May 4, 2023

Oil and Gas 360 Transactions solidify Company’s Permian focus and accelerate achievement of debt milestone Company to launch $300 million share buyback at closing HOUSTON, May 3, 2023 /PRNewswire/ — Callon Petroleum Company (NYSE: CPE) (“Callon” or the “Company”) today signed two definitive agreements that streamline and focus Callon’s operations, accelerate the achievement of its debt reduction target and allow for the

Callon Petroleum’s Primexx acquisition sends its shares lower

August 5, 2021

World Oil HOUSTON (Bloomberg) –Callon Petroleum Co. failed to win over investors Wednesday after announcing its biggest-ever acquisition to bulk up in America’s most prolific shale patch. The Houston-based oil explorer agreed to buy closely held Primexx Energy Partners Ltd. for about $788 million in cash and stock, while separately agreeing to swap debt for equity with Callon’s largest shareholder,

More shale drillers slash production after oil rout slams earnings

May 11, 2020

Reuters U.S. shale producers Continental Resources Inc and Callon Petroleum Co on Monday joined their peers in cutting production to cope with a rout in oil prices as the coronavirus crisis sapped demand for fuel. The historic drop in oil prices last month sent shockwaves through the energy sector, forcing producers to drastically cut spending and scale back activity globally.

Hess, Concho, Callon join Exxon in tightening budget amid oil crash

March 17, 2020

Reuters U.S. producers Hess Corp, Concho Resources Inc and Callon Petroleum Co on Tuesday followed oil major Exxon Mobil Corp in cutting their spending for the year, as oil prices continued to trade below $30 a barrel. Oil producers are trying to shore up cash as a double-whammy from the Saudi-Russia price war and dwindling demand because of the coronavirus

Callon and Carrizo complete merger

December 20, 2019

Oil and Gas 360 HOUSTON, Dec. 20, 2019 /PRNewswire/ — Callon Petroleum Company (NYSE: CPE) (“Callon”) today announced that it has completed its acquisition of Carrizo Oil & Gas, Inc. (“Carrizo”). As previously announced, current Carrizo shareholders will receive 1.75 shares of Callon common stock for each share of Carrizo common stock they own. After the close of trading today, Carrizo common stock

Callon shareholders approve $750 million deal for shale rival Carrizo

December 20, 2019

Reuters U.S. shale producer Callon Petroleum Co on Friday won shareholders’ approval to acquire rival Carrizo Oil & Gas Inc with a reduced stock offer, a month after it won the support of a major dissenting stockholder. The deal was worth about $750 million on Friday, based on the latest offer of 1.75 Callon shares, down from 2.05 shares previously,

ISS flips and supports sweetened Callon-Carrizo deal

November 20, 2019

Houston Chronicle An influential proxy advisory firm said Wednesday it now supports the merger of Houston oil producers Callon Petroleum and Carrizo Oil & Gas after the deal was sweetened for hesitant Callon shareholders. Callon plans to acquire Carrizo in a merger of near equals, but the deal was at risk of falling apart because of concerns Callon was paying too much and taking on too

Paulson gives up opposition to reduced Callon-Carrizo deal

November 18, 2019

Reuters: Callon Petroleum Co shareholder Paulson & Co said on Monday it would now not oppose the U.S. shale producer’s purchase of smaller rival Carrizo Oil & Gas Inc, after the company last week sharply cut its offer. Billionaire investor John Paulson’s hedge fund, which had earlier said the deal was too expensive, also reduced its stake in Callon but

Callon Petroleum slashes Carrizo bid, hoping to save shale merger

November 14, 2019

Reuters U.S. shale producer Callon Petroleum (CPE.N) on Thursday sharply cut its offer for rival Carrizo Oil & Gas (CRZO.O) postponed a shareholder vote in a last ditch effort to win support for the deal. The new terms value Carrizo at about $723 million down from $1.2 billion in July, when Callon first made the offer. Callon shares tumbled after

Callon-Carrizo merger at risk ahead of Nov. 14 shareholder vote

October 22, 2019

Houston Chronicle: The pending merger between Houston oil producers Callon Petroleum and Carrizo Oil & Gas could be on the brink of falling apart with ongoing investor opposition ahead of the Nov. 14 shareholder vote to approve the deal. Callon plans to acquire Carrizo for $1.2 billion in an all-stock deal that represents a merger-of-near-equals as the two firms seek to combine to add

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