Callon active participant in offshore lease sale.NATCHEZ, Miss.--(BUSINESS WIRE)--April 25, 1996--Callon Petroleum Company (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on NMS See NetWare Management System. : CLNP/CLNPP), bidding with partner Murphy Oil Corporation (NYSE NYSE See: New York Stock Exchange :MUR Mur (m  r), Hung., Slovenian, and Croatian Mura (m `rä), river, c. ) was the apparent high bidder on 13 offshore tracts at the Outer Continental Shelf In the federal United States, the Outer Continental Shelf (OCS) consists of the submerged lands, subsoil, and seabed, lying between the seaward extent of the States' jurisdiction and the seaward extent of Federal jurisdiction. (OCS) Lease Sale No. 157 held April 24 in New Orleans and conducted by the U.S. Department of the Interior through its Minerals Management Service. Callon participated in bids totaling $23.5 million for the 13 blocks, encompassing 65,000 acres. These bids are subject to approval by the Minerals Management Service. The Company will hold a 25 percent working interest in blocks and Murphy will hold the remaining 75 percent working interest. The blocks on which Callon participated in the apparent high bids include seven blocks in the West Cameron South Addition, two in Mississippi Canyon and one block in each of Eugene Island, South Marsh Island, Vermillion and Main Pass East Addition. Callon Petroleum Company has engaged in the acquisition, development, exploitation, exploration and operation of oil and gas properties in the Gulf Coast region since 1950. CONTACT: Callon Petroleum Company, Natchez John S. Weatherly, 800-451-1294 |
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