Callon EPS at $3.36 vs. $3.40 Estimated
Posted: Wed Feb 22, 2023 5:09 pm
2022 Highlights
Set Company records for full-year net cash provided by operating activities of $1.5 billion and adjusted free cash flow of $622.7 million
Set Company record for full-year net income of $19.54 per diluted share (all per share amounts are stated on a diluted basis)
Improved full-year operating margin by 38% year-over-year to $58.04 per barrel of oil equivalent (Boe)
Grew annual production by nearly 10% to 104.3 MBoe/d, in line with guidance
Invested $841.5 million in operational capital expenditures, or less than 60% of net cash provided by operating activities
Year-end total proved reserves of 479.5 MMBoe (57% oil) with a standardized measure of future discounted cash flows of total proved reserves of $9.0 billion; PV-10 of total proved reserves of $10.5 billion
Increased proved developed reserves by 7% to 293.2 MMBoe (58% oil), representing 61% of total reserve volumes
Paid down $461.9 million in debt and reduced leverage ratio, as defined by our credit facility, by over 40% over the last 12 months
Fourth Quarter 2022 Highlights
Generated $372.6 million of net cash provided by operating activities and adjusted free cash flow of $165.4 million
Net income of $272.5 million, or $4.41 per diluted share, adjusted EBITDA of $412.2 million, and adjusted income of $207.7 million or $3.36 per diluted share
Fourth quarter 2022 production averaged 106.3 MBoe/d (62% oil)
Reduced lease operating expense (LOE) to $7.58 per Boe
Reduced debt by an additional $133.0 million
Set Company records for full-year net cash provided by operating activities of $1.5 billion and adjusted free cash flow of $622.7 million
Set Company record for full-year net income of $19.54 per diluted share (all per share amounts are stated on a diluted basis)
Improved full-year operating margin by 38% year-over-year to $58.04 per barrel of oil equivalent (Boe)
Grew annual production by nearly 10% to 104.3 MBoe/d, in line with guidance
Invested $841.5 million in operational capital expenditures, or less than 60% of net cash provided by operating activities
Year-end total proved reserves of 479.5 MMBoe (57% oil) with a standardized measure of future discounted cash flows of total proved reserves of $9.0 billion; PV-10 of total proved reserves of $10.5 billion
Increased proved developed reserves by 7% to 293.2 MMBoe (58% oil), representing 61% of total reserve volumes
Paid down $461.9 million in debt and reduced leverage ratio, as defined by our credit facility, by over 40% over the last 12 months
Fourth Quarter 2022 Highlights
Generated $372.6 million of net cash provided by operating activities and adjusted free cash flow of $165.4 million
Net income of $272.5 million, or $4.41 per diluted share, adjusted EBITDA of $412.2 million, and adjusted income of $207.7 million or $3.36 per diluted share
Fourth quarter 2022 production averaged 106.3 MBoe/d (62% oil)
Reduced lease operating expense (LOE) to $7.58 per Boe
Reduced debt by an additional $133.0 million