Cimarex Energy Breakout Notes
Thomas E. Jorden, president and CEO of Cimarex Energy, (ticker: XEC) presented today at EnerCom’s The Oil & Gas Conference® 22.
Cimarex Energy’s core acreage exists in the Mid-Continent and in the Permian. The company is actively drilling and completing wells in both basins.
The company announced net income of $97.3 million during Q2, 2017 and, during that same quarter, averaged 1.156 Bcfe per day of production—equivalent to 192.7 MBOEPD. Cimarex spent $602 million in exploration and development capital so far in 2017, $296 million of which was spent during Q2. The company has allocated between $1.1 and $1.2 billion for 2017 exploration and development capital, 62% of which is dedicated to its Permian assets.
During the company’s breakout session, management was asked the following questions:
- You spoke about understanding downhole physics, can you talk about some of what you’re doing to understand it?
- Do you use coiled tubing in your laterals?
- What is 2018 looking like, as far as CAPEX, cash flow, etc.?
- Have you tested in-region sand in your Delaware basin assets?
- What’s the most important thing you believe you can do to improve the NPV of your wells?
- Have your frac-times pushed out with an increase in DUCs?
- Could you tell us about your overall hedging strategy?
- Could you talk about gas differentials in the Anadarko?
- You’ve been reluctant to make long term pipeline commitments, is that still the case?
- In your Delaware acreage, do you have a plan for developing the ore scattered acreage?
- One service company said the well count will rise with the rig count falling, what are your thoughts?
- Can you speak generally about exploration?
- Could you talk about your acquisitions this year?
Cimarex Energy presented at EnerCom’s 2017 The Oil & Gas Conference®.
You can listen to the company’s presentation by clicking here.
