May 25 (Reuters) - Callon Petroleum Co(CPE)
* Callon Petroleum Company(CPE) announces death of chairman and chief executive officer, Fred L. Callon
* Callon Petroleum Co(CPE) says will be convening today to discuss co's plan for succession
Fred was a heck of an oilman. CPE has a good team. It will survive.
CPE Founder dies
CPE Founder dies
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group
Re: CPE Founder dies
Note below from John White, an energy analyst that covered CPE:
CPE announced today that Chairman and CEO, Fred L. Callon, died suddenly and unexpectedly on May 24, 2017. Joe Gatto, President and Chief Financial Officer commented, "It is with great sorrow that we announce the untimely passing of our dear friend and esteemed CEO. Fred was, and always will be, the symbol of Callon's core values and dedication to our employees and partners. On behalf of our Board of Directors, management team and employees, we extend our deepest sympathies to Fred's family. Callon's Board of Directors will be convening today to discuss the Company's plan for succession to ensure the continuity of its strategic direction and operations."
We do not expect a disruption of the operational momentum CPE has been building over the past three years. CPE has a strong management and technical team, led by, in our opinion, the very capable and talented Messers. Newberry and Gatto, and we expect a smooth transition of leadership.
We have personally known Fred Callon for over ten years, back to the days when CPE was a GoM company. In our history of coverage of the sector, we cannot recall an E&P company that was 100% GoM transitioning to a 100% onshore operation and, in our view, doing so with such success.
We also add that in our experience with Fred Callon, he treated everyone he dealt with or met with the utmost of respect and courtesy, regardless of their station or position in life. We offer the CPE team and Mr. Callon’s family our deep condolences.
CPE announced today that Chairman and CEO, Fred L. Callon, died suddenly and unexpectedly on May 24, 2017. Joe Gatto, President and Chief Financial Officer commented, "It is with great sorrow that we announce the untimely passing of our dear friend and esteemed CEO. Fred was, and always will be, the symbol of Callon's core values and dedication to our employees and partners. On behalf of our Board of Directors, management team and employees, we extend our deepest sympathies to Fred's family. Callon's Board of Directors will be convening today to discuss the Company's plan for succession to ensure the continuity of its strategic direction and operations."
We do not expect a disruption of the operational momentum CPE has been building over the past three years. CPE has a strong management and technical team, led by, in our opinion, the very capable and talented Messers. Newberry and Gatto, and we expect a smooth transition of leadership.
We have personally known Fred Callon for over ten years, back to the days when CPE was a GoM company. In our history of coverage of the sector, we cannot recall an E&P company that was 100% GoM transitioning to a 100% onshore operation and, in our view, doing so with such success.
We also add that in our experience with Fred Callon, he treated everyone he dealt with or met with the utmost of respect and courtesy, regardless of their station or position in life. We offer the CPE team and Mr. Callon’s family our deep condolences.
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group