Shale oil production is on the increase in the Permian Basin and Callon Petroleum Company of Houston wanted to get in while things are hot.
It just closed a $300 million acquisition of oil and gas assets on the western edge of the Permian Basin from Percussion Petroleum Operation. The acquisition came after Callon sold nearly $655 million of assets in the Eagle Ford region of Texas in an effort to focus on West Texas and southeast New Mexico reported the Carlsbad Current Argus.
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