Items Tagged with 'cimarex'

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Cimarex Beats 3Q Output Guidance, to Deploy 12 Rigs in 2016

The pursuit of more efficient drilling and the use of longer laterals continued to be the name of the game for Cimarex Energy Co. during the third quarter, as it cut from 16 to 12 the number of rigs it plans to deploy in the Permian Basin and the Midcontinent next year. But the company blew past its production guidance, and impairments on the value of its oil and gas portfolio trimmed quarterly earnings by more than $750 million. Read More