Cimarex Energys Commitment to Excellence FINANCIAL STRENGTH Conservative Balance Sheet Return on and of Capital Disciplined Investment Margin Expansion OPERATIONAL EXCELLENCE Maximize Capital Efficiency Resource Development &…
2020 Summary and Results AVERAGED 4.7 DRILLING RIGS AND 1.0 TOTAL CAPITAL INVESTMENT OF 577MM COMPLETION CREW DURING 2020 IN 2020, BELOW 600MM GUIDANCE Currently operating six drilling rigs and 2020 OIL PRODUCTION OF 76.7 MBBLS/D; two…
2021 Guidance and Estimated Cash Flow Allocation CASH FLOW ALLOCATION VARIES WITH WTI PRICE1,2 2021 PLAN HIGHLIGHTS 100% 9% 650-750 million total capital investment 12% 500-600 million total D&C 48% 75-81 MBbl/d, up 2%…
Strong Balance Sheet and Growing Dividend AMPLE LIQUIDITY, NO NEAR-TERM DEBT MATURITIES DIVIDEND HISTORY 1,600 1.20 DIVIDEND PAID PER SHARE 1,200 1.00 MILLIONS 0.80 800 750 750 0.60 400 500 0.40 0 LIQUIDITY 2024…
Permian Region Well Cost Improvements WELL COST PER COMPLETED LATERAL FOOT (OPERATED) 1,600 1,479 1,400 TOTAL CAPITAL ASSOCIATED /COMPLETED LATERAL FEET WELL COST PER 1,200 1,106 LATERAL FOOT = WITH COMPLETED WELLS2 LATERAL…
Redesigned Development Plans Increase Capital Efficiency EXAMPLE: COUNT FLEET DEVELOPMENT CURRENTLY COMPLETING, EXPECTED ON LINE 2Q21 PREVIOUS DESIGN NEW RELAXED DESIGN 1596 X/Y SANDS X/Y SANDS UPPER WOLFCAMP UPPER WOLFCAMP…
Delaware Basin Well Performance XEC vs Other Operators DELAWARE BASIN CUMULATIVE OIL PRODUCTION BY COUNTY (8,500 LL, First Prod 2016, Upper Wolfcamp & Bone Spring Formations) CULBERSON REEVES LEA EDDY 450 400 CUMULATIVE OIL…
Committed to Environmental Excellence METHANE INTENSITY DOWN OVER 25% Y-O-Y PERMIAN FLARING INTENSITY DOWN OVER 50% Y-O-Y 0.4% 2.5% METHANE INTENSITY RATE1 2.0% FLARING INTENSITY2 0.3% 0.337% 1.98% HIGH PRESSURE…
ESG Innovation ENHANCED MONITORING INCLUDES ENVIRONMENTAL TECHNOLOGY OGI inspections in excess of EPA requirements Tankless batteries could reduce methane emissions Newly implemented laser and aerial inspections by up to 98%; first…
Cimarex Energy Investment Thesis FINANCIAL OPERATIONAL POSITIONED EXCELLENCE ESG FOCUS FOR SUCCESS TOP-TIER INVESTMENT GRADE QUALITY AND DEPTH OF LEADER IN ENVIRONMENTAL WELL-POSITIONED TO BALANCE SHEET ASSETS OPERATIONS AND…
APPENDIX APPENDIX 14
2021 Guidance 1Q21E 2021E Production (MBOE/d) 205 225 235 255 Oil Production (MBbls/d) 65.0 69.0 75.0 81.0 Capital Expenditures ( Million) D&C 500 600 Midstream & Saltwater Disposal (SWD) 40 Other 110 Total Capital 650 750…
Projected 2021 Activity NET WELLS ON PRODUCTION 73 NET WELL COUNT 51 23 24 20 6 2020A 1Q21E 2Q21E 3Q21E 4Q21E 2021E PERMIAN BASIN ANADARKO BASIN BROUGHT 17 NET WELLS ON PRODUCTION IN 4Q20, 44 NET WELLS IN PROGRESS…
2021 Delaware Basin Plans D&C WELLS ON LINE AVERAGE LATERAL CAPITAL BY COUNTY LENGTH BY COUNTY 10,000 WOLFCAMP EDDY 8,000 LEA 6,000 4,000 67 450 540 MM NET WELLS REEVES 2,000 0 BONE CULBERSON EDDY…
Delaware Basin NEW MEXICO 234,800 NET ACRES WITH MULTIPLE LANDING ZONES CURRENTLY OPERATING FIVE DRILLING RIGS AND TWO TEXAS COMPLETION CREWS UPCOMING DEVELOPMENTS IN PROGRESS PROJECT NAME WELLS % WI ON LINE 1 BIG SKY 6 100 1Q 2…
Mid-Continent OKLAHOMA 326,000 NET ACRES 135,625 net undeveloped acres (HBP) 13-8 AREA CURRENTLY OPERATING ONE DRILLING RIG EXPECT TO BRING ONE DEVELOPMENT ON LINE IN 2021 LONE ROCK CAREL/ELDER 5 WELLS, 94% WI FOCUSING…
Culberson County Stands Out RISER: XEC-ENGINEERED ACCESS FOR WATER REUSE 725-775 PER LATERAL FOOT OUR LOWEST ESTIMATED GO FORWARD D&C COST IN THE DELAWARE BASIN CULBERSON CUMULATIVE OIL PRODUCTION IN LINE WITH DELAWARE BASIN…
Non-GAAP Reconciliation ( MILLIONS) 2018 2019 2020 TWELVE MONTHS ENDED DECEMBER 31, Net income (loss) 792 (125) (1,967) ( MILLIONS) 2018 2019 2020 Income tax expense (benefit) 231 (26) (359) Interest expense, net of capitalized 47 37 43…
Hedges as of February 22, 2021 2021 2022 OIL 1Q 2Q 3Q 4Q 1Q 2Q 3Q WTI OIL COLLARS1 Volume (Bbl/d) 40,000 34,000 40,000 40,000 26,000 19,000 10,000 Weighted Average Floor 38.06 34.62 34.65 34.65 37.31 38.16 40.00 Weighted Average…
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