Cimarex Energy: Difference between revisions
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| name = Cimarex Energy Co. |
| name = Cimarex Energy Co. |
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| logo = Cimarex Energy logo.jpg |
| logo = Cimarex Energy logo.jpg |
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| type = [[Public company]] |
| type = [[Public company|Public]] |
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| traded_as = {{NYSE|XEC}} |
| traded_as = {{Unbulleted list|{{NYSE|XEC}}|[[S&P 500]] component}} |
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| foundation = {{Start date and age|2002}} |
| foundation = {{Start date and age|2002}} |
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| hq_location = [[Denver, Colorado]] |
| hq_location = [[Denver, Colorado]] |
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| equity = {{increase}} $2.568 billion (2017) |
| equity = {{increase}} $2.568 billion (2017) |
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| num_employees = 910 (2017) |
| num_employees = 910 (2017) |
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| homepage = {{URL| |
| homepage = {{URL|cimarex.com}} |
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| footnotes = <ref name=10K>{{cite web | url=https://www.sec.gov/Archives/edgar/data/1168054/000116805418000004/xec2017123110k.htm | title=Cimarex Energy 2017 Form 10-K Annual Report | publisher=[[U.S. Securities and Exchange Commission]]}}</ref> |
| footnotes = <ref name=10K>{{cite web | url=https://www.sec.gov/Archives/edgar/data/1168054/000116805418000004/xec2017123110k.htm | title=Cimarex Energy 2017 Form 10-K Annual Report | publisher=[[U.S. Securities and Exchange Commission]]}}</ref> |
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Revision as of 02:48, 14 April 2018
Company type | Public |
---|---|
Industry | Petroleum industry |
Founded | 2002 |
Headquarters | Denver, Colorado |
Key people | Thomas E. Jorden, Chairman & CEO G. Mark Burford, CFO |
Production output | 1,142 MMcfe of natural gas equivalent per day |
Revenue | $1.918 billion (2017) |
$0.494 billion (2017) | |
Total assets | $5.043 billion (2017) |
Total equity | $2.568 billion (2017) |
Number of employees | 910 (2017) |
Website | cimarex |
Footnotes / references [1] |
Cimarex Energy Co. is a petroleum and natural gas exploration and production company organized in Delaware and headquartered in Denver, Colorado, with operations primarily in Texas, Oklahoma, and New Mexico.
Current operations
As of December 31, 2017, the company had 3.354 trillion cubic feet of natural gas equivalent of estimated proved reserves, of which 48% was natural gas, 25% was petroleum, and 28% was natural gas liquids.[1]
In 2017, production averaged 1,142 million cubic feet of natural gas equivalent per day, 55% of which came from the Permian Basin and 44% of which came from the Rocky Mountains, particularly the Cana–Woodford in western Oklahoma.[1]
History
The company was founded in 2002.[1] The company was a corporate spin-off of Helmerich & Payne, which sought to separate its exploration and production business from its drilling business.[2] In October 2002, shareholders of Helmerich & Payne received shares in Cimarex.[3]
In 2005, the company acquired Magnum Hunter Resources in a $1.5 billion transaction.[4][5][6]
In 2008, the company bought 38,000 acres in Oklahoma from Chesapeake Energy for $180 million.[7]
In 2012, the company sold assets in Texas for $294 million.[8][9]
In 2014, the company acquired assets in the Cana-Woodford, including 140 billion cubic feet equivalent of proved reserves and 50,000 net acres, in a $249 million transaction.[10]
References
- ^ a b c d "Cimarex Energy 2017 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
- ^ "Drilling Contractor to Spin Off Oil and Gas Business". The New York Times. Bloomberg News. February 26, 2002.
- ^ "Helmerich & Payne Announces Record and Distribution Dates for Spin-off Of Cimarex Energy Co" (Press release). PR Newswire. September 20, 2002.
- ^ "Cimarex Energy to Acquire Magnum Hunter" (Press release). PR Newswire. January 26, 2005.
- ^ "Cimarex Energy and Magnum Hunter Announce Completion of Merger" (Press release). PR Newswire. June 7, 2005.
- ^ "Cimarex acquires Magnum Hunter in $2.1 billion deal". American City Business Journals. January 26, 2005.
- ^ "Cimarex Energy buys 38,000 acres in Oklahoma". American City Business Journals. October 21, 2008.
- ^ "Cimarex Announces Property Sale" (Press release). PR Newswire. November 6, 2012.
- ^ "Cimarex Energy selling Texas properties for $294M". American City Business Journals. November 6, 2012.
- ^ "Cimarex to Acquire Cana-Woodford Assets for $249 million" (Press release). PR Newswire. May 6, 2014.
External links
- Business data for Cimarex Energy:
- 2002 establishments in Colorado
- Companies based in Colorado
- Companies listed on the New York Stock Exchange
- Energy companies established in 2002
- Natural gas companies of the United States
- Non-renewable resource companies established in 2002
- Oil companies of the United States
- Petroleum in Oklahoma
- Petroleum in Texas