NATCHEZ — Callon Petroleum Co. says it’s trying to sell its interest in a Gulf of Mexico oil field.
The company announced its board has authorized Jeffries LLC to try to sell its 15 percent interest in the Medusa deep-water field and 10 percent in Medusa Spar LLC, the company that owns the production platform for the field.
Chairman and CEO Fred Callon says the potential sale is part of the company’s refocusing toward operations in west Texas’ Permian Basin. Callon says selling Medusa would give the company money to speed up drilling in Texas and buy more drilling rights in the region.
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