Callon Petroleum Company Issues Guidance For Full Year 2010
Callon Petroleum Company (NYSE: CPE) is issuing guidance for the full year 2010, which includes confirmation of previously issued production guidance for the 12-month period. The guidance, found in the table below, is expressed in ranges for the detailed components.
|Full Year 2010|
|(In thousands, except per production unit amounts)|
|Guidance for Full Year 2010|
|Estimated production volumes:|
|Natural gas (Bcf)||4.8 – 5.0|
|Crude oil (Mbo)||860 – 920|
|MMcfe/d||27 – 29|
|Lease operating expenses:|
|Cash||$18,000 -- $20,000|
|Total||$18,000 -- $20,000|
|General and administrative expenses:|
|Cash||$ 11,400 -- $11,700|
|Non-cash||4,000 -- 4,800|
|Total||$15,400 -- $16,500|
|Cash||$16,300 -- $16,700|
|Non-cash||(3,000) -- (3,100)|
|Total||$13,300 -- $13,600|
|Medusa Spar LLC, net of tax||$ 400 -- $ 450|
|DD & A – Per Mcfe||$3.00 -- $ 3.05|
|Accretion expense||$ 2,400 -- $ 2,500|
|Income tax rate||0%|
|Cash income tax rate||0%|
The preceding guidance estimates contain assumptions that we believe are reasonable. These estimates are based on information that is available as of the date of this news release. We are not undertaking any obligation to update these estimates as conditions change or as additional information becomes available.
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