April 8th was a big day for shareholders of Callon Petroleum (CPE). Management announced, after the market closed, a significant asset divestiture of some of the firm's Midland Basin assets. This move will effectively reduce the company's leverage, involves non-core assets, and will allow it to unload a rather expensive monkey off of its back. In all, while the full impact of the transaction will not be known until management releases updated guidance, this maneuver by the firm, though not necessary, will help to improve its balance sheet and serve to refocus