Forecast - Production | Capital Markets | Capital Expenditure | Drilling Program - Wells | Drilling Program-Rig Count | Capital Expenditure - 2019
Cimarex Cuts MidCon Capex in Favor of the Permian for 2019; Budget Down 11% YOY
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Cimarex Energy Co. detailed its 2019 capital plan.
*The budget is based on $50-55 / barrel WTI
On the whole, Cimarex has significantly reduced its Midcontinent spending in favor of the Permian, which is up +3% YOY (despite the budget being down -11% from 2018).
While Cimarex's rig and well plans are down 21% and 32%, respectively, the company expects production growth of +17% YOY.
- 2019 Capex: $1.35-1.45 billion (down -11% from 2018)
This does not include $60-70 million allocated for midstream/infrastructure- 2019 Production: 250-270 MBOEPD
- Well Plans: Drill and complete 83 net wells
Permian (85%): 71 MidCon (15%): 12Below are the net wells expected to be on production in 2019 by quarter:
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