XEC - Cimarex to push ahead in developing permitted federal Permian acreage

Cimarex Energy (XEC) will move forward with "confidence" of developing its permitted federal acreage in the western Permian Basin of New Mexico, CEO Thomas Jorden says.The company responded to President Biden's pause on new oil and gas leasing on federal lands in a "knee-jerk" fashion and redirected back to west Texas the rigs it was ready to mobilize into New Mexico, but now "we're back in New Mexico," Jorden said today at Simmons Energy's Annual Energy Conference.During Biden's first two months in office, things have become more hopeful for producers that want to develop their permitted Permian acreage, Jorden said, adding New Mexico's governor is "highly engaged with a prominent responsible voice" and local Interior Department offices are approving right-of-ways and related items."We feel wholly different than the way we did the day [the moratorium] was released," he said. "Our confidence in being able to develop that acreage is high."Earlier today,

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Cimarex to push ahead in developing permitted federal Permian acreage