Callon Petroleum Co. (NYSE: CPE) opened a public offering of 12.5 million common shares, the company said Sept. 8.
Underwriters were given a monthlong option to purchase about 1.9 million additional shares, the company said.
The net proceeds from the offer will support Permian Basin acquisitions, Callon said, noting that borrowings under a planned senior secured second-lien term loan will also support them. The proceeds might also support exploration and development activities and general corporate purposes, which include debts and working capital, the company added.
Johnson Rice & Co. LLC and Scotiabank/Howard Weil are joint book-running managers, Callon said.
Natchez, Miss.-based operates in the West Texas Permian Basin.
Recommended Reading
Silver Linings in Biden’s LNG Policy
2024-03-12 - In the near term, the pause on new non-FTA approvals could lift some pressure of an already strained supply chain, lower both equipment and labor expenses and ease some cost inflation.
Total CEO: US LNG Shaky, Global Projects Brought into Spotlight
2024-02-21 - U.S. President Joe Biden’s decision to pause approvals for new U.S. LNG projects benefits similar projects around the world and casts doubt around U.S. supply, TotalEnergies’ Pouyanné told analysts during the company’s quarterly webcast.
Venture Global, Grain LNG Ink Deal to Provide LNG to UK
2024-02-05 - Under the agreement, Venture Global will have the ability to access 3 million tonnes per annum of LNG storage and regasification capacity at the Isle of Grain LNG terminal.
Chesapeake Enters into Long-term LNG Offtake Agreement
2024-02-13 - Chesapeake Energy entered into a long-term liquefaction offtake sale and purchase agreement with Delfin LNG and Gunvor Group for a 20-year period.
Babcock & Wilcox to Convert Coal Plant to NatGas
2024-03-18 - B&W will convert the plant’s two coal-fired boilers to natural gas by designing and installing burners, air systems, fans and other equipment.