Forecast - Production | Capital Markets | Capital Expenditure | Drilled Uncomplete (DUC) | Drilling Program - Wells | Capital Expenditure - 2018
Cimarex Upping Spending Nearly 30% for 2018; Talks Drilling Plans
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Cimarex detailed its 2018 guidance.
Details:- 2018 Capex: $1.68-1.79 billion - up 29% from 2017
Exploration & Development: $1.6-1.7 billion ($1.3-1.4B for D&C only - 70% Permian / 30% MidContinent) Midstream / Other Infrastructure: $80-90 million- Drill & Complete 127 net wells during 2018
- 2018 Production: 211-221 MBOEPD, an increase of 14% at the midpoint from 2017 production levels with oil production expected to lead year-over-year growth and be up 21-26 percent.
Permian activities will continue to focus on our long lateral Wolfcamp programs in Culberson and Reeves counties in Texas, and in Lea County, New Mexico, as well. Avalon and Bone Spring activities round out the remainder of our investments in the region.
In the Mid-Continent, Cimarex's 2018 investments are focused on…
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