form8k.htm

0001140361-08-021629.txt : 20080922 0001140361-08-021629.hdr.sgml : 20080922 20080922124010 ACCESSION NUMBER: 0001140361-08-021629 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20080922 ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20080922 DATE AS OF CHANGE: 20080922 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: 081081913 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 form8k.htm CALLON PETROLEUM CO 8-K 9-22-2008 form8k.htm

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

September 22, 2008

(Date of earliest event reported)

Callon Petroleum Company

(Exact name of registrant as specified in its charter)

Delaware	001-14039	64-0844345
(State or other jurisdiction of incorporation or organization)	(Commission File Number)	(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):

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

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

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

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 September 22, 2008, Callon Petroleum Company issued the press release attached as Exhibit 99.1 reporting that the company has commenced drilling the first of two development wells at its deepwater Entrada Field. The semi-submersible rig Ocean Victory is on location and is scheduled to be onsite at Entrada for approximately 180 days to drill and complete the Entrada #3 and the Entrada #4 wells. The Entrada Field is located at Garden Banks Block 782 in approximately 4,650 feet of water in the deepwater region of the Gulf of Mexico. The field is owned 50% by Callon, who is the operator, and 50% by CIECO Energy (US) Limited.

Section 9 — Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits

	(c) Exhibits

	Exhibit Number		Title of Document

	99.1		Press release dated September 22, 2008 providing information regarding the commencement of drilling of the first of two 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


September 22, 2008	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 September 22, 2008 providing information regarding the commencement of drilling of the first of two development wells at its Entrada Field.

EX-99.1 2 ex99_1.htm EXHIBIT 99.1 ex99_1.htm

EXHIBIT 99.1

For further information contact

Rodger W. Smith 1-800-451-1294

FOR IMMEDIATE RELEASE

Deepwater Drilling Commences

At Callon’s Entrada Field

Natchez, MS (September 22, 2008) – Callon Petroleum Company (NYSE: CPE) today announced it has commenced drilling the first of two development wells at its deepwater Entrada Field. The company anticipates first production in early 2009.

The semi-submersible rig Ocean Victory is on location and has commenced drilling the Entrada #3 well after operations were suspended and all personnel were evacuated during Hurricanes Gustav and Ike. The Ocean Victory is scheduled to be onsite at Entrada for approximately 180 days to drill and complete the Entrada #3 and the Entrada #4 wells. Callon is the operator of the Entrada Field and has a history of successful projects over the past several years with the Ocean Victory drilling rig. The Ocean Victory drilled the original two discovery wells at Entrada and has performed well on other projects in which Callon has an interest.

During July, approximately 13 miles of natural gas and crude oil flow lines were successfully laid from the Entrada Field to within approximately 1,500 feet of the ConocoPhillips-operated Magnolia Field production platform located on the adjacent block, through which Entrada’s oil and gas will be produced. The pipe lay operation was completed in 12 days, on schedule, by Technip’s pipe lay vessel the Deep Blue. The steel risers which will connect the oil and gas flow lines resting on the sea floor to the Magnolia Field production facility are scheduled to be installed in January

“We are very excited that the long anticipated drilling of the development wells at Entrada has commenced,” explains Fred Callon, Chairman and CEO. “We have a very talented and experienced deepwater management team, as well as partners like Diamond Offshore and other contractors who have extensive experience in developing deepwater fields. The team has been working closely together for many months preparing for a successful development of the field. When Entrada begins producing next year, it is expected to more than double the company’s current daily production level.

The Entrada Field is located at Garden Banks Block 782 in approximately 4,650 feet of water in the deepwater region of the Gulf of Mexico. The field is owned 50% by Callon, who is the operator, and 50% by CIECO Energy (US) Limited.

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.