Callon Petroleum is set to sell off non-core assets in a deal that will narrow the US company’s focus to three core areas.
The company this week it had sold its Ranger operating area in the Midland basin for $260 million to an undisclosed buyer, the proceeds of which will go to debt reduction initiatives.
The Ranger area in the southern part of the Midland includes around 9850 net Wolfcamp acres with average daily production of about 4000 barrels of oil equivalent per day as of two months ago.
