Cimarex Reports Fourth-Quarter and Full-Year 2013 Results (unaudited)
- Proved Reserves up 11 percent to 2.5 Tcfe
- Record 2013 production of 693 MMcfe per day
- First 10,000-foot lateral in Culberson produces 2,803 BOE/day (27% oil)
- Ward County Wolfcamp well produces 890 BOE/day (80% oil)
XEC
Re: XEC
Q4 production came in above my forecast.
Fourth-quarter 2013 production averaged 704.9 million cubic feet equivalent (MMcfe) per day as compared to fourth-quarter 2012 daily output of 676.7 MMcfe. Production during the quarter was impacted by weather and pipeline disruptions in the Permian Basin. Led by 21 percent growth in Permian volumes, total company production for the full year increased 11 percent to a record 692.6 MMcfe per day. Oil production grew 17 percent and gas production was up six percent year-over-year.
Fourth-quarter 2013 production averaged 704.9 million cubic feet equivalent (MMcfe) per day as compared to fourth-quarter 2012 daily output of 676.7 MMcfe. Production during the quarter was impacted by weather and pipeline disruptions in the Permian Basin. Led by 21 percent growth in Permian volumes, total company production for the full year increased 11 percent to a record 692.6 MMcfe per day. Oil production grew 17 percent and gas production was up six percent year-over-year.
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group