HOUSTON, Dec. 20, 2019 /PRNewswire/ -- Callon
Petroleum Company (NYSE: CPE) ("Callon") today announced that it
has completed its acquisition of Carrizo Oil & Gas, Inc.
("Carrizo").
As previously announced, current Carrizo shareholders will
receive 1.75 shares of Callon common stock for each share of
Carrizo common stock they own. After the close of trading today,
Carrizo common stock will no longer be listed for trading on the
NASDAQ. In addition, Carrizo intends to request that its reporting
obligations under the Securities Exchange Act of 1934 be
suspended.
Callon Leadership Team
Callon also announced the officer slate of the combined
company. As previously announced, the Callon senior
leadership team will continue with the company:
- Joseph C. Gatto, Jr., President,
Chief Executive Officer and Director;
- James P. Ulm, II, Senior Vice
President and Chief Financial Officer;
- Dr. Jeff Balmer, Senior Vice
President and Chief Operating Officer; and
- Michol L. Ecklund, Senior Vice
President and General Counsel.
The Callon leadership team also includes:
- Rex Bigler, Vice President –
Asset Development, previously with Carrizo;
- Gregory F. Conaway, Vice
President and Chief Accounting Officer, previously with
Carrizo;
- J. Michael Hastings, Vice
President – Marketing;
- Scott Hudson, Vice President –
Drilling and Completions, previously with Carrizo;
- Liam Kelly, Vice President –
Corporate Development;
- Jamin B. McNeil, Vice President
- Production; and
- Michael J. O'Connor, Vice
President – Permian.
About Callon
Callon is an independent energy company focused on the
acquisition and development of unconventional onshore oil and
natural gas reserves in Texas.
This news release is posted on Callon's website
at www.callon.com, and will be archived for subsequent review
under the "News" link on the top of the homepage.
Cautionary Statement Regarding Forward Looking
Statements
This news release contains 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. Forward-looking
statements include all statements regarding wells anticipated to be
drilled and placed on production; future levels of drilling
activity and associated production and cash flow expectations;
Callon's 2019 production guidance and capital expenditure forecast;
estimated reserve quantities and the present value thereof; and the
implementation of Callon's business plans and strategy, as well as
statements including the words "believe," "expect," "plans," "may,"
"will," "should," "could," and words of similar meaning. These
statements reflect Callon's current views with respect to future
events and financial performance based on management's experience
and perception of historical trends, current conditions,
anticipated future developments and other factors believed to be
appropriate. 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. Any forward-looking statement speaks only as of
the date on which such statement is made and Callon undertakes no
obligation to correct or update any forward-looking statement,
whether as a result of new information, future events or otherwise,
except as required by applicable law. Some of the factors which
could affect Callon's future results and could cause results to
differ materially from those expressed in Callon's forward-looking
statements include the volatility of oil and natural gas prices;
ability to drill and complete wells; operational, regulatory and
environment risks; cost and availability of equipment and labor;
Callon's ability to finance Callon's activities; the ultimate
timing, outcome and results of integrating the operations of
Carrizo and Callon; the effects of the business combination of
Carrizo and Callon, including the combined company's future
financial condition, results of operations, strategy and plans; the
ability of the combined company to realize anticipated synergies
and other benefits in the timeframe expected or at all; and other
risks more fully discussed in Callon's filings with the Securities
and Exchange Commission, including Callon's Annual Reports on Form
10-K and Quarterly Reports on Form 10-Q, available on Callon's
website or the SEC's website at www.sec.gov.
Contact for Callon
Mark
Brewer
Director of Investor Relations
or
Kate Schilling
Investor Relations
Callon Petroleum Company
ir@callon.com
(281) 589-5200
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SOURCE Callon Petroleum Company