Callon Petroleum Company Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Description of Business and Basis of Presentation (Tables)

Description of Business and Basis of Presentation (Tables)

9 Months Ended

Sep. 30, 2018

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Effects of Adoption of New Accounting Standard

The Company adopted the new standard on January 1, 2018 using the modified retrospective method at the date of adoption and the impact of adoption on the current period statement of operations is as follows:



	Three Months Ended September 30, 2018
	As reported		Adjustments		Presentation without adoption of ASC Topic 606
Operating revenues:
Natural gas sales	$	18,613	$	2,209	$	20,822
Total operating revenues	161,214		2,209		163,423

Operating expenses:
Lease operating expenses	$	18,525	$	2,209	$	20,734
Total operating expenses	88,403		2,209		90,612



	Nine Months Ended September 30, 2018
	As reported		Adjustments		Presentation without adoption of ASC Topic 606
Operating revenues:
Natural gas sales	$	45,229	$	5,413	$	50,642
Total operating revenues	425,729		5,413		431,142

Operating expenses:
Lease operating expenses	$	44,705	$	5,413	$	50,118
Total operating expenses	224,532		5,413		229,945