Callon Petroleum sees big jump in net income
by MBJ Staff
Published: August 9,2011
NATCHEZ — Callon Petroleum Company reported net income of $19.9 million, or $0.50 per fully diluted share, for the second quarter, and $24.0 million, or $0.65 per fully diluted share, for the six-month period ended June 30, 2011. This compares with net income of $2.1 million, or $0.07 per fully diluted share, during the second quarter, and $6.0 million, or $0.21 per fully diluted share, for the six-month period ended June 30, 2010.
Operating results for the three months ended June 30, 2011 include oil and gas sales of $36.8 million from average production of 5.6 thousand barrels of oil equivalent per day (Mboe/d). This corresponds to sales of $21.6 million from average production of 4.4 Mboe/d during the comparable 2010 period. The average price per barrel of oil (Bbl) received in the second quarter of 2011, after hedging impact, increased to $105.75, compared to $74.03 for the same period in 2010.
The average price per thousand cubic feet of natural gas (Mcf) received during the quarter ended June 30, 2011, increased to $5.58, compared to $5.22, after the impact of hedging, for the quarter ended June 30, 2010.
To sign up for Mississippi Business Daily Updates, click here.
FOLLOW THE MBJ ON TWITTERMy Tweets
Top Posts & Pages
- Travis retiring as head of Mississippi World Trade Center
- Pearl ordering rental properties to retrofit with sprinklers, build storm shelters
- Drew Brees settles lawsuit alleging investment fraud
- Court rules board can discipline West Virginia radiologist
- Deer processors need to use caution to insure safe, tasty venison
- Winchester lands $50M ammunition contract from Homeland Security
- Legislators begin work on FY2016 state budget
- Biloxi baseball project still alive but may be held for 2015
- Doctor convicted of using phony church for tax shelter