Houston-based Callon Petroleum said Monday it has reached agreement to sell certain non-core assets in the Midland Basin for an initial price of $260 million. The assets include Callon’s Ranger operating area in the southern Midland Basin of 9,850 net Wolfcamp acres, more than 80 producing horizontal wells, and 70 net delineated locations. Daily production from these assets averaged about 4,000 boed (52 percent oil) in February. Callon also recently completed a trade that expanded its contiguous position in northwest Howard County by 167 net acres.