Capital Markets | Capital Expenditure | Drilling Program - Wells | Drilling Program-Rig Count | Capital Expenditure - 2020 | 2020 Guidance
Cimarex Details 2020 Capex; Spending, Production to be Relatively Flat YOY
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Cimarex Energy Co. has detailed its 2020 capital program.
2020 DetailsCimarex plans to spend $1.25 - 1.35 billion, a decrease of 2% YOY. STACK spending takes the biggest hit as 2020 capex plans come in 50% less than 2019.
The company will be maintaining production levels from 2019, but the mix is projected to get 9% oilier.
2020 Commentary
In 2020, oil production is projected to average 91 - 97 thousand barrels of oil (MBbls) per day, up nine percent at the midpoint from 2019 levels. Total equivalent production is expected to average 270 - 286 thousand barrels of oil equivalent (MBOE) per day, essentially flat from 2019. Following the strong performance in the fourth quarter of 2019, oil production in the first quarter of 2020 is expected to average 87.5 - 91.5 MBbls per day with total…
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