Chevron, Cimarex agree to Permian development venture

06/24/2013 | Reuters

Chevron and Cimarex Energy struck a joint development deal covering 104,000 acres in the Permian Basin in Texas. Under the terms, Chevron will allocate $60 million for a 50% interest in Cimarex's Triple Crown gathering system and for a 50% stake in wells drilled in 2013.

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