Under the terms of the agreement, Rango will be able to earn a 50% stake in Innex's joint ventures with Occidental Petroleum and Hess in California. It will also be able to participate in an Innex tie-up with Chesapeake in Oklahoma.
The California leases include an approximate 35,000-acre chunk in the San Joaquin basin that is being developed alongside Hess. Oxy is a partner in another 10,000-acre project targeting Kreyenhagen formation in the Kettleman Middle Dome, also in the San Joaquin valley.
Innex
