Cimarex Energy Co

Based in Denver, Colorado, Cimarex Energy Co.isan independent company engaged in the exploration and production of oil and gas with operations in New Mexico, Oklahoma, and Texas. Most of the company’s wells are drilled in the Wolfcamp Shale and Bone Spring Sands in the Permian Basin and in the Woodford and Meramec Shales in Western Oklahoma. In 2017, Cimarex invested $1.28 billion in various exploration and development activities around the Permian and Mid-Continent regions. The company was focused on investing an additional $1.6-$1.7 billion in the same regions in 2018. Cimarex's proved reserves grew to 559 million barrels of oil equivalent (MMBOE) as of December 31, 2017. The company’s daily production averaged 190 thousand barrels of oil equivalent (MBOE) in 2017, out of which 45% was natural gas; 30% oil and 25% natural gas liquids. This resulted in a daily production five-year compound annual growth rate of 13%. The company’s financial highlights for the second quarter of fiscal 2019 included reported net income of $109.3 million. Add this instrument to your watchlist and get the latest updates on XEC price movements.