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February 3, 2014
08:25 EDTCPECallon Petroleum announces expected 120% raise in annual Permian production
Callon Petroleum announced 2013 production results and year-end reserve estimates, provided an operational update, and issued a 2014 capital budget and related guidance. 120% increase in 2014 average daily production based on the midpoint of guidance. Forecast of 4,700 - 5,100 Boepd compared to Permian Basin production of 2,228 Boepd in 2013. 58% net increase in total Permian Basin reserves, with 50% proved developed component, at year-end 2013. 9.7 MMBoe of Permian Basin proved reserve additions in 2013 with a "drill-bit F&D" cost of $15.32 per Boe. 282% increase in PV-10 Value of Permian Basin operations to $301M. Average 24-hour peak rate of over 1,100 Boepd from seven well completions in Q4.
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March 23, 2015
09:11 EDTCPECallon Petroleum announces agreement with Lone Star Value regarding board size
Callon Petroleum announced that it has entered into an agreement with Lone Star Value Management, pursuant to which Callon has agreed to expand the size of the company's board from seven to eight directors and to designate one new independent director Michael Finch to fill the newly-created directorship, effective the day prior to Callon's 2015 annual meeting of stockholders. Finch will also be nominated by the company for re-election to the board, at the company's 2015 annual meeting of stockholders, as a Class I director. Pursuant to its agreement with Callon, Lone Star Value has agreed to certain customary standstill and voting provisions.
07:16 EDTCPEHoward Weil to hold a conference
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