<ARTICLE> 5
<LEGEND>
THIS FINANCIAL DATA SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED
FROM THE CONSOLIDATED FINANCIAL STATEMENT OF CALLON PETROLEUM COMPANY FOR THE
PERIOD ENDING SEPTEMBER 30, 2000, 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>                   9-MOS
<FISCAL-YEAR-END>                          DEC-31-2000
<PERIOD-END>                               SEP-30-2000
<CASH>                                          10,268
<SECURITIES>                                         0
<RECEIVABLES>                                    8,347
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                                19,987
<PP&E>                                         627,023
<DEPRECIATION>                                 374,401
<TOTAL-ASSETS>                                 285,079
<CURRENT-LIABILITIES>                           15,461
<BONDS>                                              0
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                         10
<COMMON>                                           124
<OTHER-SE>                                     132,317
<TOTAL-LIABILITY-AND-EQUITY>                   285,079
<SALES>                                         39,720
<TOTAL-REVENUES>                                41,256
<CGS>                                                0
<TOTAL-COSTS>                                   22,298
<OTHER-EXPENSES>                                     0
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                               5,949
<INCOME-PRETAX>                                 13,009
<INCOME-TAX>                                     4,423
<INCOME-CONTINUING>                              8,586
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                     8,586
<EPS-BASIC>                                        .57
<EPS-DILUTED>                                      .56