Attached files
file | filename |
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8-K - FORM 8-K - Callon Petroleum Co | h69502e8vk.htm |
EX-10.2 - EX-10.2 - Callon Petroleum Co | h69502exv10w2.htm |
EX-10.1 - EX-10.1 - Callon Petroleum Co | h69502exv10w1.htm |
EX-10.3 - EX-10.3 - Callon Petroleum Co | h69502exv10w3.htm |
Exhibit 99.1
For further information contact
Rodger W. Smith 1-800-451-1294
Rodger W. Smith 1-800-451-1294
FOR IMMEDIATE RELEASE
Callon Petroleum Company Completes
$100 Million Credit Agreement
$100 Million Credit Agreement
Natchez, MS (February 1, 2010) Callon Petroleum Company (NYSE: CPE) announced today
that it has completed a $100 million Third Amended and Restated Senior Secured Credit Agreement
with Regions Bank as the sole arranger and administrative agent.
The Credit Agreement provides an initial borrowing base of $20 million, which will be
reviewed and re-determined on a semi-annual basis. There are no borrowings outstanding under
the Credit Agreement, which matures on September 25, 2012.
The new Credit Agreement replaces the companys existing borrowing base facility.
Borrowings will be used for capital expenditures and general corporate purposes.
We are pleased to announce this new credit facility and to continue Callons
long-standing relationship with Regions Bank, B.F. Weatherly, Chief Financial
Officer, explains. This agreement adds to our strong liquidity position and will further
our growth in 2010, he adds.
Callon Petroleum Company is engaged in the acquisition, development, exploration and
operation of oil and gas properties in Louisiana, Texas 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 companys 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 SECs website at www.sec.gov.
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