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                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                    --------

                                    FORM 8-K

                                 CURRENT REPORT

                       Pursuant to Section 13 or 15(d) of
                       the Securities Exchange Act of 1934


                                 Date of Report
                                  May 13, 2003
                        (Date of earliest event reported)


                            CALLON PETROLEUM COMPANY
             (Exact name of registrant as specified in its charter)



          DELAWARE                      001-14039              64-0844345
(State or other jurisdiction of  (Commission File Number)   (I.R.S. Employer
incorporation or organization)                            Identification Number)


                               200 NORTH CANAL ST.
                           NATCHEZ, MISSISSIPPI 39120
          (Address of principal executive offices, including zip code)


                                 (601) 442-1601
              (Registrant's telephone number, including area code)



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ITEM 1.  CHANGES IN CONTROL OF REGISTRANT

         Not applicable

ITEM 2.  ACQUISITION OR DISPOSITION OF ASSETS

         Not applicable

ITEM 3.  BANKRUPTCY OR RECEIVERSHIP

         Not applicable

ITEM 4.  CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANTS

         Not applicable

ITEM 5.  OTHER EVENTS

         Not applicable

ITEM 6.  RESIGNATIONS OF REGISTRANT'S DIRECTORS

         Not applicable

ITEM 7.  FINANCIAL STATEMENTS AND EXHIBITS

         Exhibits

     EXHIBIT NUMBER                                  TITLE OF DOCUMENT

           99.1                     Press release dated May 13, 2003 providing
                                    information regarding Callon Petroleum
                                    Company's operating results for the quarter
                                    ended March 31, 2003.

           99.2                     Press release dated May 13, 2003 announcing
                                    conference call regarding Callon Petroleum
                                    Company's operating results for the quarter
                                    ended March 31, 2003.

ITEM 8.  CHANGE IN FISCAL YEAR

         Not applicable

ITEM 9.  REGULATION FD DISCLOSURE

         Not applicable

ITEM 10. AMENDMENTS TO THE REGISTRANT'S CODE OF ETHICS, OR WAIVER OF A PROVISION
         OF THE CODE OF ETHICS.

         Not applicable

ITEM 11. TEMPORARY SUSPENSION OF TRADING UNDER REGISTRANT'S EMPLOYEE BENEFIT
         PLANS

         Not applicable

ITEM 12. RESULTS OF OPERATIONS AND FINANCIAL CONDITION

         On May 13, 2003, Callon Petroleum Company issued the press releases
attached as Exhibits 99.1 and 99.2 providing information regarding the company's
operating results for the quarter ended March 31, 2003 and announcing the
company's conference call regarding such operating results.

                                                                               2





                                   SIGNATURES

              Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.


                                               CALLON PETROLEUM COMPANY



May 14, 2003                                   By: /s/ James O. Bassi
                                                   -----------------------------
                                                   James O. Bassi
                                                   Vice President and Controller





                                  EXHIBIT INDEX




     EXHIBIT NUMBER            TITLE OF DOCUMENT
     --------------            -----------------
                 
           99.1     Press release dated May 13, 2003 providing
                    information regarding Callon Petroleum
                    Company's operating results for the quarter
                    ended March 31, 2003.

           99.2     Press release dated May 13, 2003 announcing
                    conference call regarding Callon Petroleum
                    Company's operating results for the quarter
                    ended March 31, 2003.