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
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,
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
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
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
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
Source: Houston Chronicle Houston oil and gas producer Callon Petroleum is going on the offensive to sell its shareholders on its proposed acquisition of Carrizo Oil & Gas after one of Callon’s top shareholders came out against the deal. While Callon would acquire for $1.2 billion Carrizo, the sale is pitched as a merger of near-equals of Houston-based producers in
Compiled by Bevo Beaven and Tyler Losier, Oil & Gas 360 In light of Callon and Carrizo’s $3.2 billion merger, the two companies held an investor conference call this morning. Below are notable excerpts, compiled from Bloomberg’s transcription of the call: Q: It sounds like the combination of the two companies, increases the free cash flow generation and the construction
By Tyler Losier, Energy Reporter, Oil & Gas 360 Callon adds oil-weighted assets in the Permian and Eagle Ford through all-stock transaction Callon Petroleum Company (stock ticker: CPE), an independent E&P focused on unconventional assets in the Permian, has struck a deal with Houston-based Carrizo Oil & Gas (stock ticker: CRZO) to acquire the company in an all-stock transaction worth
From the Houston Chronicle The Supreme Court of Texas ruled that the plain language of a contract outweighs industry custom in an oil drilling case involving Carrizo Oil & Gas AUSTIN – The Texas Supreme Court continued its deference to the plain language in a contract, but only by a narrow majority, as it rejected a $27.7 million verdict in
Carrizo responds to activist investor Hedge fund Lion Point Capital has filed a Form 13D showing beneficial ownership of approximately 4.7 million shares of Carrizo Oil & Gas (stock ticker: CRZO; $CRZO) that the filing said was worth north of $65 million. That gives Lion Point a little more than 6% of the one billion-dollar (market cap) E&P. In the
From Bloomberg Carrizo Oil & Gas Inc. is weighing a tie-up with U.S. energy explorer SM Energy Co., according to people familiar with the matter. Carrizo has held early-stage discussions with SM about a potential combination, the people said, asking not to not be identified because the information is private. There’s no certainty the deliberations will lead to a transaction, the
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