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Cimarex Talks 1Q Wolfcamp Spacing Pilot; Upsized Woodford Fracs
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Cimarex Energy Co. reported its first quarter 2015 results.
Total company production averaged 946.7 million cubic feet equivalent (MMcfe) per day during the first quarter, a 28 percent increase from first quarter 2014. Year-over-year natural gas volumes increased 25 percent, oil volumes grew 31 percent and NGL volumes were up 29 percent.
2015 OutlookCimarex now estimates total production volumes for 2015 to average 920–950 MMcfe per day, a midpoint increase of eight percent over 2014 volumes. Oil volumes are expected to grow 11-15 percent and gas volumes 3-6 percent. Total company production for the second quarter 2015 is projected to average 965-985 MMcfe per day. Capital investment budgeted for exploration and development remains at $0.9-$1.1 billion in 2015.
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