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CPX Energy Year End 2022 Update

January 11, 2023 - CPX Energy Opportunities IV, LP (“CPX IV”) launched in Q3 2022.  CPX IV is focused on exploration and development in the core of the Delaware Basin.  CPX IV has begun acquiring assets for future development.

CP Exploration III, LLC (CPX III) drilled and completed 9 horizontal laterals in 2022, with a total gross perforated interval of 65,420 feet.  Since CPX III’s inception in December 2019, CPX has placed 19 wells on production with a cumulative production of 4MM+ BOE.  CPX will start flowing back two wells in January 2023.  CPX III has now tested six distinct geologic benches across its Loving County asset.    With CPX Energy’s commitment to maximizing investment returns while minimizing our environmental impact, CPX began its conversion process from natural gas powered to electric field compression.

  “As I reflect on 2022, I am extremely proud of the accomplishments made possible by the hard work and determination of the CPX team.  Our people are our greatest resource, and their collective efforts allowed CPX Energy to continue its value creation efforts in CPX III while launching CPX IV,” said John Roby, CEO of CPX Energy.