Callon Petroleum (CPE) Reports In-Line Q2 EPS, Offers Guidance
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Callon Petroleum (NYSE: CPE) reported Q2 EPS of $0.14, in-line with the analyst estimate of $0.14. Revenue for the quarter came in at $40.5 million versus the consensus estimate of $37.81 million.
Third Quarter and Full Year 2014 Guidance
The following third quarter guidance assumes the drilling of eight gross (6.6 net) horizontal wells and the completion of seven gross (5.9 net) horizontal wells. Full year guidance, previously provided on May 8, 2014, has been updated for third quarter 2014 guidance and actual results for 2014 to date.
3rd Quarter 2014 | Full Year | |||
Total production (BOE/d) | 5,450 - 5,650 | 5,250 - 5,350 | ||
% oil | 79% - 81% | 80% - 83% | ||
Expenses (per BOE) | ||||
LOE, including workovers | $9.00 - $10.00 | $9.00 - $10.00 | ||
Production taxes, including ad valorem | $4.50 - $4.75 | $4.60 - $4.80 | ||
Adjusted G&A (a) | $9.25 - $10.25 | $9.00 - $10.00 |
For earnings history and earnings-related data on Callon Petroleum (CPE) click here.
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