Callon Petroleum Co. adjusted its guidance following close of its noncore asset sale in the Permian Basin on June 13, which could bring in proceeds of up to $310 million. 

The sale, which Callon had announced in early April, comprised the company’s Ranger asset located in the southern Midland Basin of Reagan and Upton County, Texas, where Callon hadn’t been as active. 

The sale included 66% working interest in 9,850 net Wolfcamp acres. Callon said daily production averaged 4,000 barrels of oil equivalent per day (boe/d), 52% oil, in February.

Already have an account? Log In

Thanks for reading Hart Energy.

Subscribe now to get unmatched coverage of the oil and gas industry’s entire landscape.

Get Access