Callon Petroleum expects to price $350 million eight-year senior notes late this week

By Paul A. Harris

Portland, Ore., Sept. 12 – Callon Petroleum Co. expects to price $350 million eight-year senior notes late this week, according to a market source.

J.P. Morgan Securities LLC is leading the Rule 144A and Regulation S offering.

The Natchez, Miss.-based independent energy company plans to use the proceeds to repay its second-lien term loan and for general corporate purposes, including for a potential increase in drilling activity.

Callon is focused on the acquisition, development, exploration, and operation of oil and gas properties in the Permian Basin in West Texas.

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