Cimarex Energy Co (XEC)

[Timothy Smith]

Cimarex Energy's (NYSE:XEC) operations in the Permian Basin include 122 wells with proved reserves of 697 billion cubic feet equivalent as of the end of 2012. Its production in the first part of 2013 was 50% natural gas and 50% oil and natural gas liquids.

Although oil generates just 32% of its production in terms of volume (Gas 50%, Oil 32%, NGLs 18%), that amounts to 63% of revenue in dollars. As a result of its strong returns from oil and liquids it continues to invest heavily in the Permian Basin in West Texas and New Mexico as well as at its Cana-Woodford shale properties in Western Oklahoma.