e8vk

0000950134-07-019560.txt : 20070905 0000950134-07-019560.hdr.sgml : 20070905 20070905083945 ACCESSION NUMBER: 0000950134-07-019560 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20070831 ITEM INFORMATION: Entry into a Material Definitive Agreement ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20070905 DATE AS OF CHANGE: 20070905 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: 071098297 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 h49729e8vk.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
August 31, 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 1 — Registrant’s Business and Operations

Item 1.01. Entry into a Material Definitive Agreement.

On August 31, 2007, Callon Petroleum Operating Company, a wholly-owned subsidiary of Callon Petroleum Company entered into a Production Handling Agreement with ConocoPhillips and Devon Energy Corporations. The agreement provides that the crude oil and natural gas production from Callon’s Entrada Field located in Garden Banks Blocks 738, 782, 785, 826 and 827 in the Gulf of Mexico will be processed by the Magnolia production platform located on the adjacent block, Garden Banks Block 783, which is owned by ConocoPhillips and Devon.

A copy of the press release announcing the execution of the agreement is attached as Exhibit 99.1.

Section 9 — Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits


Exhibit
Number		Title of Document

99.1		Press release dated September 4, 2007 announcing the execution of a Production Handling Agreement by and between Callon Petroleum Operating Company, ConocoPhillips and Devon Energy Corporations.

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
September 5, 2007	By:	/s/ B. F. Weatherly
		B. F. Weatherly
		Executive Vice President and Chief Financial Officer

Exhibit Index


Exhibit
Number		Title of Document

99.1		Press release dated September 4, 2007 announcing the execution of a Production Handling Agreement by and between Callon Petroleum Operating Company, ConocoPhillips and Devon Energy Corporations.

EX-99.1 2 h49729exv99w1.htm PRESS RELEASE exv99w1

Exhibit 99.1

For further information contact
Rodger W. Smith 1-800-451-1294

FOR IMMEDIATE RELEASE

Callon Petroleum Company Signs PHA with ConocoPhillips, Devon

Natchez, MS (September 4, 2007) — Callon Petroleum Company (NYSE: CPE) announced today that it has signed a production handling agreement (PHA) with ConocoPhillips (NYSE: COP) and Devon Energy Corporation (NYSE: DVN).

The agreement stipulates that crude oil and natural gas from Callon’s Entrada Field, located on Garden Banks Blocks 738, 782, 785, 826 and 827 in the Gulf of Mexico, will be processed by the Magnolia production platform on the adjacent block, Garden Banks Block 783, which is owned by ConocoPhillips and Devon.

Current plans call for an initial development of two producing wells as sub-sea tiebacks to the host facility, with production anticipated to commence during the first quarter of 2009. In addition, provisions have been made for additional wells to be tied into this infrastructure in the future.

Negotiation of the production handling agreement has been ongoing since Callon announced its acquisition of BP’s 80% interest in the Entrada Field in April 2007.

Fred Callon, Chairman and CEO, commented that “We are very pleased to have reached this important milestone in the development of the Entrada Field and are moving forward with the final engineering design work to ensure the successful completion of this project.”

Callon Petroleum Company is engaged in the exploration, development, acquisition and operation of oil and gas properties primarily in the Gulf Coast region. 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.