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0000950129-07-005854.txt : 20071129 0000950129-07-005854.hdr.sgml : 20071129 20071129134454 ACCESSION NUMBER: 0000950129-07-005854 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20071129 ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20071129 DATE AS OF CHANGE: 20071129 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CALLON PETROLEUM CO CENTRAL INDEX KEY: 0000928022 STANDARD INDUSTRIAL CLASSIFICATION: CRUDE PETROLEUM & NATURAL GAS [1311] IRS NUMBER: 640844345 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-14039 FILM NUMBER: 071274151 BUSINESS ADDRESS: STREET 1: 200 N CANAL ST CITY: NATCHEZ STATE: MS ZIP: 39120 BUSINESS PHONE: 6014421601 MAIL ADDRESS: STREET 1: 200 N CANAL ST CITY: NATCHEZ STATE: MS ZIP: 39120 FORMER COMPANY: FORMER CONFORMED NAME: CALLON PETROLEUM HOLDING CO DATE OF NAME CHANGE: 19940805 8-K 1 h51912e8vk.htm FORM 8-K - CURRENT REPORT e8vk

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934

Date of Report
November 29, 2007

(Date of earliest event reported)

Callon Petroleum Company

(Exact name of registrant as specified in its charter)


Delaware (State or other jurisdiction of incorporation or organization)		001-14039 (Commission File Number)		64-0844345 (I.R.S. Employer Identification Number)

200 North Canal St.
Natchez, Mississippi 39120
(Address of principal executive offices, including zip code)

(601) 442-1601
(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

o		Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o		Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o		Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o		Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Section 7 — Regulation FD

Item 7.01. Regulation FD Disclosure

The following information, including Exhibit 99.1, is being furnished pursuant to Item 7.01 “Regulation FD Disclosure,” not filed, for purposes of Section 18 of the Exchange Act. This information shall not be deemed “filed” for purposes of Section 18 of the Exchange Act or incorporated by reference in any filing under the Securities Act or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

On November 29, 2007, Callon Petroleum Company issued the press release attached as Exhibit 99.1 announcing that it has executed a contract with Diamond Offshore Drilling, Inc. for their semi-submersible rig Ocean Victory to drill and complete the company’s two deepwater development wells at its Entrada Field.

Section 9 — Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits


Exhibit Number		Title of Document
	99.1	Press release dated November 29, 2007 providing information regarding Callon Petroleum Company’s contract with Diamond Offshore Drilling, Inc. for their semi-submersible rig Ocean Victory to drill and complete the company’s two deepwater development wells at its Entrada Field.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


	Callon Petroleum Company
November 29, 2007	By:	/s/ Bob F. Weatherly
		Bob F. Weatherly
		Executive Vice President and Chief Financial Officer

Exhibit Index


Exhibit Number		Title of Document
	99.1	Press release dated November 29, 2007 providing information regarding Callon Petroleum Company’s contract with Diamond Offshore Drilling, Inc. for their semi-submersible rig Ocean Victory to drill and complete the company’s two deepwater development wells at its Entrada Field.

EX-99.1 2 h51912exv99w1.htm PRESS RELEASE exv99w1

EXHIBIT 99.1

For further information contact
Bob Weatherly 1-800-451-1294

FOR IMMEDIATE RELEASE

Callon Petroleum Awards Contract for Drilling

Entrada Field Deepwater Development Wells

Natchez, MS (November 29, 2007) — Callon Petroleum Company (NYSE: CPE) today announced it has contracted with Diamond Offshore Drilling, Inc. (NYSE:DO) for the semi-submersible rig Ocean Victory to drill and complete the company’s two deepwater development wells at its Entrada Field.

Callon is the operator of the Entrada Field, located in approximately 4,650 feet of water in the deepwater region of the Gulf of Mexico. The Entrada #3 and #4 wells will be drilled on Garden Banks Block 782 and will target commercially productive sands between 13,000 and 21,000 feet true vertical depth.

“With a drilling rig under contract we continue to be on schedule with our planned Entrada Field development,” said Fred Callon, Chairman and CEO. “We are particularly pleased to have contracted for the Ocean Victory and to have Diamond Offshore as our drilling contractor. We have had a lot of experience with the Ocean Victory and have great confidence in Diamond Offshore’s capability and experience drilling quality well bores. The Ocean Victory drilled the original two discovery wells and seven sidetracks at Entrada and, most recently, completed a sidetrack well at our deepwater Habanero Field.”

Earlier this year the company acquired BP Exploration and Production Company’s 80% interest in the Entrada Field and assumed operations of the property. Since that time, the company has negotiated and executed a Production Handling Agreement with ConocoPhillips (NYSE: COP) and Devon Energy Corporation (NYSE: DVN), which provides for a sub-sea tieback of the Entrada wells to the Magnolia production platform located on the adjacent block. The company has also finalized the required engineering and ordered the long-lead items necessary to meet the schedule for completing and connecting the wells by the fourth quarter of 2008, with first production from Entrada targeted to commence during the first quarter of 2009. In addition, the company has retained Merrill Lynch Petrie Divestiture Advisors to identify a development partner for the project and anticipates completing this process during the first quarter of 2008.

Callon Petroleum Company is engaged in the exploration, development, acquisition and operation of oil and gas properties primarily in the Gulf Coast region. Over 80% of Callon’s proved reserves are located in the deepwater Gulf of Mexico with approximately 55% consisting of crude oil. Callon’s properties and operations are geographically concentrated in Louisiana, Alabama and the offshore waters of the Gulf of Mexico.

It should be noted that this news release contains projections and other forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These projections and statements reflect the company’s current views with respect to future events and financial performance. No assurances can be given, however, that these events will occur or that these projections will be achieved and actual results could differ materially from those projected as a result of certain factors. Some of the factors which could affect our future results and could cause results to differ materially from those expressed in our forward-looking statements are discussed in our filings with the Securities and Exchange Commission, including our Annual Reports on Form 10-K, available on our website or the SEC’s website at www.sec.gov.