| |
Industry | Petroleum industry |
Founded | 2002 |
Defunct | October 1, 2021 |
Fate | Acquired by Coterra |
Headquarters | Denver, Colorado, U.S. |
Key people | Thomas E. Jorden,
Chairman &
CEO G. Mark Burford, CFO |
Production output | 252.5 thousand barrels of oil equivalent (1,545,000 GJ) per day |
Revenue | US$1.558 billion (2020) |
-US$1.967 billion (2020) | |
Total assets | US$4.621 billion (2020) |
Total equity | US$1.553 billion (2020) |
Number of employees | 747 (2020) |
Footnotes / references [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 531 million barrels of oil equivalent (3.25×109 GJ) of estimated proved reserves, of which 43% was natural gas, 27% was petroleum, and 30% was natural gas liquids. [1]
In 2020, production averaged 252.5 thousand barrels of oil equivalent (1,545,000 GJ) 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]