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Callon Petroleum, engaged in the acquisition, development, exploration and operation of oil and gas properties, has reported that net income for the fourth quarter ended December 31, 2009 was $53.9 million, or $2.27 per diluted share, compared to a net loss of $457.5 million, or $21.19 per diluted share, for the fourth quarter ended December 31, 2008.
Total operating revenues for the fourth quarter of 2009 were $70.9 million, compared to $15.5 million for the corresponding period of 2008.
Net income for the year ended December 31, 2009 was $54.4 million, or $2.45 per diluted share, compared to a net loss of $438.9 million, or $20.68 per diluted share, for 2008.
Total operating revenues for the year ended December 31, 2009 were $142.14 million, compared to $141.31 million for the year ended December 31, 2008.
Fred Callon, chairman and CEO of Callon Petroleum, said: "Our focus in 2010 will be on growing through the drill bit and making selective acquisitions in our core areas to further expand our inventory of drilling opportunities and strengthening our visible, long-term growth potential."
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For full details on Callon Petroleum Co (CPE) CPE. Callon Petroleum Co (CPE) has Short Term PowerRatings at TradingMarkets. Details on Callon Petroleum Co (CPE) Short Term PowerRatings is available at This Link.
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