| Cimarex Energy Co. | |
| Fate: | Acquired by Coterra |
| Hq Location: | Denver, Colorado, U.S. |
| Industry: | Petroleum industry |
| Production: | 252.5e3BOE per day |
| Revenue: | (2020) |
| Net Income: | - (2020) |
| Assets: | (2020) |
| Equity: | (2020) |
| Num Employees: | 747 (2020) |
| Footnotes: | [1] |
Cimarex Energy Co. was a company engaged in hydrocarbon exploration, particularly shale oil and gas drilling. It was organized in Delaware and headquartered in Denver, Colorado, with operations primarily in Texas, Oklahoma, and New Mexico.[1]
As of December 31, 2020, the company had 531e6BOE of estimated proved reserves, of which 43% was natural gas, 27% was petroleum, and 30% was natural gas liquids.[1]
In 2020, production averaged 252.5e3BOE per day, 69% of which came from the Permian Basin and 31% of which came from the Mid-Continent oil province, particularly the Cana–Woodford in western Oklahoma.[1]
Cimarex was founded in 2002. The company was a corporate spin-off of Helmerich & Payne, which sought to separate its exploration and production business from its drilling business.[2] In September 2002, shareholders of Helmerich & Payne received shares in Cimarex.[3]
In 2005, the company acquired Magnum Hunter Resources in a $2.1 billion transaction.[4]
In 2008, the company bought 38,000 acres in Oklahoma from Chesapeake Energy for $180 million.[5]
In 2012, the company sold assets in Texas for $294 million.[6]
In 2014, Cimarex acquired assets in the Cana-Woodford, including 140 billion cubic feet equivalent of proved reserves and 50,000 net acres, in a $249 million transaction.[7]
In 2018, the company sold assets in Ward County, Texas for $570 million.[8]
In March 2019, the company acquired Resolute Energy for $1.6 billion.[9]
In October 2021, the company was acquired by Cabot Oil & Gas, forming Coterra.[10] [11] [12]