Cimarex Inks $570M Deal to Unload Wolfcamp Assets

摘要

Cimarex Energy is selling a chunk of its Wolfcamp acreage in the Permian Basin to Callon Petroleum in a $570 million cash deal. Primarily located in the Bone Spring formation of the southern Delaware subbasin in Ward County, Texas, the assets include nearly 29,000 net surface acres, with roughly 19,000 prospective to Wolfcamp formations. The acreage also hold 212 identified drilling locations, with production of just over 6,800 barrels of oil equivalent per day (73% oil) in the first quarter this year.