Cimarex Energy Co. (NYSE: XEC) was divested of oil and gas assets by the drilling contractor Helmerich & Payne, Inc. in 2002. It is headquartered in Meiguo Denver, Colorado. It has 925 full-time employees. Production enterprises, operating areas are mainly in Texas, Oklahoma and New Mexico.
Cimarex Energy Co. (XEC):
Cimarex Energy is another little-known company we introduced today, but with a stock price of hundreds of dollars and a market value of more than tens of billions (the other two are: SL Green Real Estate and SBA Communications ), mainly in Texas and Russia. The states of Krahoma and New Mexico are engaged in the exploration and production of oil and gas, and have production interests in 3,153 oil and gas wells. As of December 31, 2015, the total proved oil and gas reserves were 2.9 trillion cubic feet. Approximate equivalent (Tcfe), including 1.5 trillion cubic feet of natural gas, 0.65 Tcfe oil, 0.75 Tcfe natural gas liquid (NGL), is mainly distributed in the Permian Basin and the Mid-Continent.
In 2015, Cimarex Energy produced an average of 985 million cubic feet of natural gas (equivalent) per day, of which 55% came from the Permian Basin and 44% came from the Rocky Mountains.
Cimarex Energy Co. (XEC) History:
- In 2002, Helmerridge and Payne (NYSE: HP) divested their oil and gas assets to establish Cimarex Energy Co.;
- In 2005, Cimarex Energy acquired Magnum Hunter Resources for US$1.5 billion;
- In 2012, Cimarex Energy sold Texas assets for US$294 million;
- In 2014, Cimarex Energy acquired Cana-Woodford assets for US$249 million, including 140 billion cubic feet of proven natural gas equivalent and 50,000 acres (land).