Callon Petroleum Co. - 2011-02-17

Closed its public offering of 9 million shares of its common stock at a price to the public of $7.75 per share.

Callon plans to use net proceeds to fund a portion of its 2011 capital budget and for general corporate purposes, including possible future acquisitions. Callon also intends to use $35 million of the net proceeds to redeem $31 million of its outstanding 13% senior notes due 2016 and pay the associated redemption premium.