CPX Energy closed on three growth initiatives in the Permian Basin's Delaware. (Source: Shutterstock)
CPX Energy announced the closing of three growth initiatives in the Delaware Basin in a June 12 press release.
In early June, CPX closed a farm-in with an unnamed public company, allowing CPX to drill two-mile laterals in the Delaware.
CPX also closed a $150 million strategic development agreement with Warwick Investment Group to accelerate production and cash flow growth across its asset base.
Lastly, CPX began drilling operations to spud a three-well pad in Loving County, Texas. The project, coordinated alongside an unnamed public company, aims to fully develop the Wolfcamp Shale formation and maximize economic recovery.
Akin Gump Strauss Hauer & Feld LLP acted as legal advisers to CPX.
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