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Cimarex Energy
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] HistoryCimarex 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] References
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