Quarterly / Earnings Reports | First Quarter (1Q) Update | IP Rates-30-Day | Initial Production Rates | Drilling Activity | Drilling Program-Rig Count
Cimarex Development Program 13 Rigs, 5 Completion Crews; 206 Mboe/d
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Cimarex reported its Q1 2018 results.
Highlights:- Q1 2018 net income of $186.3 million (up +42% YOY)
- Q1 2018 production of 206.1 MBOE
Q1 2018 oil production of 65.2 MBO(up +6% from 4Q17) Permian Region - In the Delaware Basin, 14 Cimarex-operated wells have achieved an average IP-30 of 1,908 barrels of oil equivalent per day. Oil from these wells averaged 1,178 barrels of oil per day. Capex of $1.65 billion (midpoint of guidance) and 216 Mboe/d remains unchanged.- Q1 2018 production of 114.2 MBOEPD (up 19% YOY)
Oil production averaged 50 MBOPD (up 21% YOY)- Completed 17 gross (9 net) wells in the Permian region during the first quarter. There were 52 gross (28 net) wells waiting on completion at March 31 (Wolfcamp, Avalon, Bone Spring).
Of note, in Lea County, New Mexico, two…
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