Yuma Energy +5% on Permian Basin development deal

|About: Yuma Energy, Inc. (YUMA)|By:, SA News Editor

Yuma Energy (NYSEMKT:YUMA+5.6% AH after announcing a deal with two unnamed  private companies to develop 33K acres in the Permian Basin and acquire an 87.5% working interest in additional acreage.

Yuma is the operator of the joint venture and says it plans to spud its first JV well this year, as well as acquire additional acreage within the area.