Callon raises production outlook Oct 5
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CreativeEquity
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Re: Callon raises production outlook Oct 5
Callon Petroleum reports Q3 production exceeded guidance; raises FY21 outlook
Production in the third quarter has been above previous expectations due to strong well performance in the Delaware and Midland Basins.
As a result, Callon is raising production guidance to 98.5 - 99.5 MBoe/d (64% oil) from a previous range of 95.5 - 97.5 MBoe/d (64% oil). Operational capital for the quarter is currently estimated to be $120 - $125 million.
I will be updating my forecast/valuation model for CPE within a few hours. My valuation prior to this press release was $69.00/share.
Production in the third quarter has been above previous expectations due to strong well performance in the Delaware and Midland Basins.
As a result, Callon is raising production guidance to 98.5 - 99.5 MBoe/d (64% oil) from a previous range of 95.5 - 97.5 MBoe/d (64% oil). Operational capital for the quarter is currently estimated to be $120 - $125 million.
I will be updating my forecast/valuation model for CPE within a few hours. My valuation prior to this press release was $69.00/share.
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group