Capital Markets | Capital Expenditure | Drilling Program - Wells | Capital Expenditure - 2021
Cimarex Ramps Up Spending Over 20% for 2021; Bets Bulk on Permian
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Cimarex Energy Co. announced its projected 2021 total capital investment (including midstream capital) plan.
2021 Plan- 2021 Capex: $650-750 million - up 21% at the midpoint from 2020
D&C: $500-600 million (90% ($450-540 million) allocated to the Permian region / 10% to MidContinent ($50-60 million)) Midstream/Saltwater Disposal (SWD): $40 million Other: $110 million- 2021 Production: 235 - 255 MBOEPD
Oil Production: 75 - 81 MBbls/d, up 2% at the midpoint from 2020 levels- D&C Plans: 73 net wells expected to begin producing during the period
Permian D&C: 67 wells MidContinent D&C: 6 wellsBelow are the net wells expected to be on production in 2021 by quarter:
Tom Jorden, Cimarex Chairman and CEO, said, "We remain committed to a disciplined investment approach and…
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