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CP Exploration II Buyout PE Owners, Now Focused On Permian
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CP Exploration backed by Post Oak (CPX) recently divested its East Texas and Colorado natural gas assets and bought out the private equity interests in the Company. CPX will now be a Permian Basin E&P company.
"We are committed to deploying capital in the best basin in the Country,” stated CEO, Tom Powell. "Along with our flagship Orla asset and joint venture with a top five major independent in Reeves County, we have long solid relationships with many of the players that currently operate in our area of interest which is leading to a strong deal flow. CPX will continue to pursue our acquisition-driven plan,focused on developing new upstream assets through the drill bit. ” he stated.
The year end 2015 third-party reserves evaluation assigned reserves of 2,946 MBO & 11,756 MMCF Proved…
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