Quality assets, technical innovations and reliable project execution leading to superior returns

Permian Basin

Located in West Texas and Southeastern New Mexico, the Permian Basin is one of the oldest oil and gas producing basins in the United States.  Hydrocarbons formed when the Permian sea retreated to the south leaving behind an elliptically-shaped layer of thick sediment which has been explored and developed in a multitude of zones since the first commercial well was drilled in 1921.  The Permian Basin comprises several smaller basins, including the Delaware Basin, Midland Basin and Central Basin Platform.  Cimarex operations are focused in the Delaware Basin where the company has a strong land position with multiple horizontal drilling opportunities in the Wolfcamp Shale, Bone Spring Sands and Avalon Shale.

The prolific oil-producing Bone Spring and Wolfcamp formations account for most of the company’s current Permian Basin activity and production. Cimarex continues to see marked improvement in well results due to newer completion techniques and the use of longer laterals. As Cimarex enters development mode, we will continue to apply new techniques to maximize productivity and returns for each area.

The Permian Basin accounted for 57 percent of Cimarex’s year-end 2018 proved reserves and 57 percent of total production. The Permian Basin is expected to contribute approximately 65 to 70 percent of total 2019 production.

2018 Data

E&D Capital ($millions) 1,092
Net Wells Drilled & Completed 80
Gas (MMcfd) 254
Oil (MBpd) 52.3
NGL (MBpd) 31.5
Total Equivalent (MBOEpd) 126
Proved Reserves
Gas (Bcf) 728
Oil (MBbl) 116,378
NGL (MBbl) 96,533
Total Equivalent (MMBOE) 334