Cimarex is a leading exploration and production company with operations in Texas, Oklahoma and New Mexico. Most of our drilling takes place in the Wolfcamp Shale and Bone Spring Sands in the Permian Basin and in the Woodford Shale in Western Oklahoma. Driven by strong rates of return from oil and liquids-rich natural gas opportunities, Cimarex invested $877 million on exploration and development activities in the Permian and Mid-Continent in 2015 and plans to invest $600-$650 million in these areas during 2016.
Cimarex has successfully grown proved reserves to 2.9 trillion cubic feet equivalent (Tcfe) at December 31, 2015, a three-year compounded annual growth rate of nine percent. High-return oil and natural gas liquids account for 48 percent of total proved reserves, up from 33 percent five years ago. Daily production averaged 985 MMcf of gas equivalent (MMcfe) during 2015; 47 percent natural gas; 31 percent oil and 22 percent natural gas liquids.