<ARTICLE> 5
<LEGEND>
THIS FINANCIAL DATA SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED
FROM THE UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS OF CALLON PETROLEUM COMPANY
FOR THE PERIOD ENDING June 30, 1997 WHICH ARE PRESENTED IN ITS QUARTERLY
REPORT ON FORM 10-Q AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH
FINANCIAL STATEMENTS.
</LEGEND>
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-END>                               JUN-30-1997
<CASH>                                           8,940
<SECURITIES>                                         0
<RECEIVABLES>                                    9,641
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                                19,293
<PP&E>                                         390,742
<DEPRECIATION>                                 274,143
<TOTAL-ASSETS>                                 140,341
<CURRENT-LIABILITIES>                           14,816
<BONDS>                                              0
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                         13
<COMMON>                                            60
<OTHER-SE>                                      81,981
<TOTAL-LIABILITY-AND-EQUITY>                   140,341
<SALES>                                         20,844
<TOTAL-REVENUES>                                21,539
<CGS>                                                0
<TOTAL-COSTS>                                   14,127
<OTHER-EXPENSES>                                     0
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                                 210
<INCOME-PRETAX>                                  7,202
<INCOME-TAX>                                     2,311
<INCOME-CONTINUING>                              3,493
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                     3,493
<EPS-PRIMARY>                                     0.55
<EPS-DILUTED>                                     0.52