Top Story | Forecast - Production | Capital Markets | Capital Expenditure | Drilling Program - Wells | Drilling Activity | Drilling Program
Cash-Rich Permian, MidCont E&P to Spend ~$625 Million in 2016
Print
|
Cimarex Energy Co. announced projected 2016 exploration and development capital of approximately $600-650 million, a 29 percent reduction from 2015 levels at the midpoint.
2016 Guidance Corporate Capital Expenditure : $600-650 Million Drilling & Completions : $400-$460 Million Additional Midstream & Other $50 Million Permian Basin : 65% Mid-Continent : 35% Rigs Plan To Operate : 4 Rigs (Starting Q2-2016) Production Guidance : 890-930 MMcfe/d Key Points: 2016 exploration and development capital of approximately $600-650 million In 2016, total company production is projected to average 890-930 million cubic feet equivalent (MMcfe) per day. Cimarex increased activity in the fourth quarter of 2015 from seven rigs to the eleven rigs currently operated. The company plans to reduce that…- ✓ Full news archive — U.S., Canada & international coverage
- ✓ A&D transactions — asset deals, corporate M&A, assets for sale
- ✓ Permits & completions data, plus 900,000+ slides & presentations
Mid-Continent News
Why $90 Oil Isn’t Bringing Back the Rigs
Higher oil prices are not translating cleanly into a drilling response across U.S. shale, and company disclosures are starting to show why. The issue is not simply capital…
These Three Companies Will Increase Drilling & Completion Over The Next 3 Year
In the span of fifteen months, three Japanese energy companies committed more than $10.3 billion to U.S. natural gas production assets — a buying spree that has transferred…
Q1 A&D Transactions Jump to $30B , While Deal Flow Was Down 40%
The first quarter of 2026 has officially defined the "Barbell Era" of American oil and gas. While the total number of deals plummeted by 46% YoY (dropping to…
Western Canada Upstream M&A: Q1 2026 Transaction Report
Western Canadian M&A activity in Q1 2026 was characterized by a 87% decrease in total deal value compared to Q1 2025, totaling $0.8 billion C$. However, transaction volume…
Wright to U.S. Oil Industry: The Price Signal Is Telling You to Drill
Energy Secretary Chris Wright stood in front of the largest gathering of oil executives in the world this morning and delivered a message that was equal parts market…
North America News
Apa Corp : Doing More With Less
APA's 2025 narrative was one of operational surprise. The company came in beating production guidance every single quarter while spending below plan, capturing over $300MM in cost savings…
Permian Resources to Grow Production 6% in 2026
Permian Resources exited 2025 as the largest pure-play Delaware Basin operator with ~480,000 net acres and >105,000 net royalty acres. The company averaged 392.6 MBoe/d in 2025, including…
Battalion Oil Closes ~$60M West Quito Draw Asset Sale
Battalion Oil Corporation has closed the sale of its West Quito Draw assets in the Southern Delaware Basin to MCM Delaware Resources LLC, a subsidiary of MCM Energy…
Deal Rumor: ConocoPhillips Exploring $2B Permian Asset Sale
ConocoPhillips is reportedly exploring the potential sale of certain Permian Basin assets in a transaction valued at approximately $2 billion, according to Reuters, citing sources familiar with the…
This Operator Will Chop it's 2026 Rig Count From 34 to 24
ConocoPhillips is setting up 2026 as a lower-intensity, more efficient operating year — with the clearest proof coming from the Lower 48 activity reset following the Marathon integration.…