Type Public company Founded 2002 Revenue 1.453 billion USD (2015) | Industry Petroleum industry Key people Thomas E. Jorden, CEO Number of employees 925 (2015) | |
Traded as NYSE: XEC
S&P 500 Component Production output 985 MMcfe of natural gas equivalent per day Stock price XEC (NYSE) US$ 125.61 +0.64 (+0.51%)3 Mar, 4:02 PM GMT-5 - Disclaimer Headquarters Denver, Colorado, United States CEO Thomas E Jorden (30 Sep 2011–) Profiles | ||
Cimarex energy ceo producing profits mad money cnbc
Cimarex Energy Co. is a petroleum and natural gas exploration and production company headquartered in Denver, Colorado, with operations primarily in Texas, Oklahoma, and New Mexico.
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Current operations
As of December 31, 2015, the company had 2.9 trillion cubic feet of natural gas equivalent of estimated proved reserves, of which 52% was natural gas and the remainder was petroleum and natural gas liquids.
In 2015, production averaged 985 million cubic feet of natural gas equivalent per day, 55% of which came from the Permian Basin and 44% of which came from the Rocky Mountains, particularly the Cana–Woodford in western Oklahoma.
History
The company 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. In October 2002, shareholders of Helmerich & Payne received shares in Cimarex.
In 2005, the company acquired Magnum Hunter Resources in a $1.5 billion transaction.
In 2012, the company sold assets in Texas for $294 million.
In 2014, the company 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.