Callon Petroleum Company Reports Results For Second Quarter, First Six Months of 2011 ($CPE)

Bullet points from the Callon Petroleum ($CPE) second quarter earnings results:

• Operating results for the three months ended June 30, 2011 include oil and gas sales of $36.8 million from average production of 5.6 thousand barrels of oil equivalent per day (Mboe/d). This corresponds to sales of $21.6 million from average production of 4.4 Mboe/d during the comparable 2010 period.
• Reduced long-term debt by $31 million realizing annual cash interest expense savings of $4 million. The outstanding balance of the company’s Senior Notes due in 2016 has been reduced to $107 million.

The Q2 EBITDDA was $27 million, and for H1 2011 it was $43 million.