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Cimarex Drills 185 Operated Wells in 2014; Talks Results
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Cimarex Energy Co. reported that total company production volumes reached a record 949.5 million cubic feet equivalent (MMcfe) per day in the fourth quarter, up 35 percent from a year ago. Despite weather and pipeline disruptions that impacted Permian operations early in the quarter, Permian oil production increased 12 percent sequentially and averaged 38,246 barrels per day in the fourth quarter. For the full year, daily production volumes averaged a record 869 MMcfe per day, up 25 percent over 2013 average daily output of 693 MMcfe per day.
In 2014 Cimarex invested $2.2 billion including exploration and development expenditures of $1.9 billion and property acquisitions of $250 million. These investments were largely funded with cash flow and the proceeds from property sales.
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