Cimarex Energy Co. operates is a Denver based E&P company that has built a substantial position in the Permian Basin. The majority of the Company's position falls in the Delaware Basin, though it also has a leasehold position in the Abo play in the Northwest Shelf.
As of year-end 2011, Cimarex had 438,000 net acres in the Permian Basin, broken down between the New Mexico Bone Spring (65,000), Texas Bone Spring (35,000), Texas/New Mexico Unconventional (110,000-160,000), and Abo/Paddock (48,000). At December 31, 2011, its Permian proved reserves were 620.4 Bcfe and Permian production was 274.5 MMcfe/d.
As of September 30, 2012, the Company had drilled and completed 76 gross (42 net) Bone Spring wells with 30 day IPs averaging over 630 Boe/d. Average well costs were $6.5 million to $7.1 million. For the Texas 3rd Bone Spring wells in 2012, 30 day IPs averaged over 1,000 Boe/d with an average well cost of $7.5 million.
The Company recently reported third-quarter 2012 oil production grew 23% to a record 32,456 barrels per day. Permian Basin oil production grew 42% to 25,000 barrels per day. Its financial results beat consensus estimates on both top and bottom line results.
News 
Market Data 
Discover 
