Profile: Cimarex Energy Co (XEC.N)
19 Dec 2014
Cimarex Energy Co., incorporated on February 14, 2002, is an oil and gas exploration and production company. The Company’s operations are focused in two main areas: the Mid-Continent region and the Permian Basin. The Mid-Continent region consists of Oklahoma, the Texas Panhandle, and southwest Kansas. Its Permian Basin region encompasses west Texas and southeast New Mexico. It also has operations in the Gulf Coast area, primarily in southeast Texas. As of December 31, 2012, its proved oil and gas reserves totaled 2.3 trillion cubic feet equivalent, consisting of 1.3 trillion cubic feet of gas and 168 million barrels of oil and natural gas liquids (liquids). Of total proved reserves, 45% are liquids and 80% are classified as proved developed. During the year ended December 31, 2012, its production averaged 626.5 million cubic feet equivalent per day, consisted of 323.8 million cubic feet of gas and 50,457 barrels of liquids. The wells it operates account for 68% of total proved reserves and approximately 80% of production. In July 2014, Cimarex Energy Co announced the acquisition of Western Oklahoma assets primarily located in the Cana-Woodford shale play.
The Company’s Permian Basin operations cover west Texas and southeast New Mexico. Drilling principally occurred in the Delaware Basin portion of New Mexico and West Texas, mainly targeting the Bone Spring and Wolfcamp formations. In total, it drilled 182 gross (122 net) wells in this area during 2012 completing 171 gross (113 net) as producers. It drilled and completed 64 gross (34 net) New Mexico Bone Spring wells during 2012. As of December 31, 2012, Texas Third Bone Spring drilling totaled 43 gross (26 net) wells. It drilled and completed 15 gross (14 net) horizontal Wolfcamp shale wells in southern Eddy County, New Mexico and Culberson County, Texas, in 2012.
The Company’s Mid-Continent region encompasses operations in Oklahoma, southwest Kansas and the Texas Panhandle. It drilled 167 gross (69 net) Mid-Continent wells during 2012, completing 98% as producers. As of December 31, 2012, it had approximately 141,000 net acres in the play.
The Company’s Gulf Coast region is focused on exploration in southeast Texas. During 2012, the Company drilled three gross (1 net) Gulf Coast wells.
Cimarex Energy Co
1700 Lincoln St Ste 3700
DENVER CO 80203-4553