- Callon Petroleum (CPE +12.9%) moves sharply higher in something of a delayed reaction the days after the Permian Basin-focused explorer reported solid Q2 results and announced adding a third rig in Q4.
- Q2 production averaged 5,280 boe/day, up 21% Q/Q, with average realized prices of $93.10/bbl of oil and $6.17/Mcf of natural gas; sees Q3 production of 5.45M-5.65M boe/day.
- MLV & Co. reiterates its Buy rating and $14 price target for the shares.