Jim Ulm, the CFO of Callon Petroleum, has told the company he plans to retire from the company in May 2021 due to personal and health reasons. The company has commenced a search for his successor.
The company is an E&P company focused on the Permian and Eagle Ford Basins and it has its head office in the Westchase area of Houston. Due to its high leverage, the company’s stock price is very sensitive to changes in crude oil prices. Its shares have risen eightfold since October as crude prices have risen. The market capitalization is now $1.8 billion. Callon took over Carrizo Oil and Gas in an all-stock transaction in December 2019 that valued Carrizo at $765 million.
Mr Ulm, 57, joined Callon in December 2017 as its CFO. He was previously the CFO at other large E&P companies such as Fieldwood Energy and Pogo Producing.