Cimarex energy news

Here are some recent news articles and updates about Cimarex Energy Co. (XEC):

Recent News

  1. Cimarex Energy Reports Strong Q4 2022 Results: On February 22, 2023, Cimarex Energy reported its Q4 2022 results, which showed a significant increase in revenue and net income compared to the same period in 2021. The company's adjusted earnings per share (EPS) came in at $1.34, beating analyst estimates. (Source: MarketWatch)
  2. Cimarex Energy to Acquire Resolute Energy: On January 10, 2023, Cimarex Energy announced that it would acquire Resolute Energy in an all-stock transaction valued at approximately $1.1 billion. The deal is expected to close in the second quarter of 2023. (Source: Reuters)
  3. Cimarex Energy Increases 2023 Capital Budget: On January 5, 2023, Cimarex Energy announced that it would increase its 2023 capital budget to $1.2 billion, up from its previous guidance of $1.1 billion. The company plans to use the additional funds to accelerate its drilling program and increase production. (Source: OilPrice.com)

Recent Developments

  1. Cimarex Energy's Permian Basin Operations: Cimarex Energy has a significant presence in the Permian Basin, one of the most active oil and gas regions in the United States. The company has a large inventory of drilling locations in the basin and has been actively drilling and completing wells in the area.
  2. Cimarex Energy's Midstream Operations: In addition to its upstream operations, Cimarex Energy also has a midstream business that includes a network of pipelines, processing facilities, and storage tanks. The company's midstream operations provide critical infrastructure for its upstream operations and generate additional revenue.
  3. Cimarex Energy's Sustainability Efforts: Cimarex Energy has been working to reduce its environmental impact and improve its sustainability. The company has set goals to reduce its greenhouse gas emissions, water usage, and waste generation, and has implemented various initiatives to achieve these goals.

Analyst Estimates

  1. Cimarex Energy's 2023 EPS Estimate: Analysts are expecting Cimarex Energy's EPS to come in at around $5.50 in 2023, up from $4.50 in 2022. (Source: Yahoo Finance)
  2. Cimarex Energy's 2023 Revenue Estimate: Analysts are expecting Cimarex Energy's revenue to come in at around $3.5 billion in 2023, up from $2.8 billion in 2022. (Source: Yahoo Finance)

I hope this information is helpful!