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CP Exploration has acquired through organic leasing significant additional acreage in the core of the Delaware Basin. - Monday, August 22, 2016
CP Exploration (CPX) has acquired through organic leasing significant additional acreage in the core of the Delaware Basin initially targeting the Wolfcamp A & B. CPX feels the Delaware Basin, even at current oil prices, will exceed its previous position in the Bakken. We are projecting that all of our Delaware Basin acreage will be profitable, even at today’s reduced commodity prices. CPX continues to successfully acquire assets using experience and knowledge to build acreage organically, patiently and strategically. We have always ignored price volatility. Everyone is looking for a way to enter this basin. Private Equity and Wall Street are paying significant amounts for blocks of acreage, while we quietly gather acreage section by section. Time is on our side, and operating with no debt and a fully capitalized G&A account, our management is free to make smart decisions. In the near-term, CPX plans to continue its growth, especially in the Delaware Basin, and is actively pursuing multiple opportunities.



 

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