Cimarex Energy announced yesterday it would spend 78% of its 2014 capital budget on projects in the Delaware Basin. The company made key discoveries in the Wolfcamp shale last year and is ready to capitalize, with plans to spend about $600 million drilling and completing wells in that area. Cimarex is also allocating $1.4 billion in the Permian Basin, which is 40% higher than it spent there in 2013.
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