Callon Petroleum (CPE) Provides 2019 Outlook and Year End Proved Reserves
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Callon Petroleum Company Provides 2019 Outlook and Year End Proved Reserves
February 12, 2019 6:30 AM ESTHOUSTON, Feb. 12, 2019 /PRNewswire/ --Â Callon Petroleum Company (NYSE: CPE) ("Callon" or the "Company") today announced its 2019 capital expenditure budget, reflecting a combination of financial discipline and capital efficiency gains.
2019 forecasted annual production of 39.5 - 41.5 MBoe/d (77% - 78% oil), representing growth of over 20% compared to current "street" consensus of 32.7 MBoe/d for 2018 Planned sequential decrease in 2019 operational capital expenditures to a range of $500 to $525 million Running an average of five drilling rigs to support larger and more efficient, multi-well pad development Plan to place... More