Cimarex Energy Co. (Cimarex) is an independent energy company engaged in the exploration, development and production of crude oil and natural gas in several regions of the US. The company's operations can be divided in to three regions of Mid-Continent, Permian Basin and Gulf Coast. The major areas of operation for the company in the Mid-Continent region include Oklahoma, southwest Kansas and the Texas Panhandle. As of December 2011, the net acreage owned by the company in the Mid-Continent region was around 729,000acres. In the Permian basin, the company encompasses the areas in West Texas and Southeast New Mexico and the net acreage owned by Cimarex in the Permian region in 2011 was nearly 438,000acres. The Gulf Coast region of the company consists of operations in Southeast Texas, with a net acreage of around 81,000acres. As of December 2011, the company had a total reserve base of around 340.9 million barrels of oil equivalent (MMboe) of which around 81.5% came from developed oil and gas reserves.
Key Highlights: This section provides detailed analysis on the company's overall oil and gas value chain, new projects, growth opportunities, new ventures, assets performance, hedging strategies, Capex funding, geographical results of oil and gas operations.
Goals and Strategies: This section provides the upcoming goals and strategies of the company. The section mainly goals and strategies followed by the company in order to meet its upcoming goals.
SWOT: The report's SWOT section provides the internal strength, weakness, opportunities and threats of company to reflect its strategic positions in the market.
Production and Development Overview: This section highlights the company's crude oil and natural gas production forecast from its legacy and upcoming assets by region and commodity mix for next five years. The report also covers the detailed information and analysis on the company's producing and development assets.
Exploration: This section includes detailed explanation and analysis on the company's exploration assets resulted due to new discoveries, new drilling and other activities.
M&A trends: This section mainly provides information and analysis on the company's recent assets transactions, joint ventures, acquisition, and divestment activities during the last one year. This section highlights the company's status as a buyer or seller during the analyzed period.
Financial Forecast and Valuation: This section highlights the detailed financial statement forecast for next five years. With the financial statement forecast, this section also provides intrinsic value of the company by using Net Asset Valuation method.
Peer Group Analysis: This section compares the company's performance with its peer group on the basis of share prices, financial ratios, operational and financial parameters and other related parameters.
Financial and Operational Metrics: This section covers the company's historical performance on several financial and operational parameters such as Production and Reserves, Reserves Replacement, Costs Incurred, Acreage, Wells, F&D Costs, Oil and Gas Revenue and Expenses etc.
Reasons to buy
The report will enhance the decision-making capability in a more rapid and time sensitive manner. It will allow you to -
Provide detailed analysis to those who are interested in knowing the companies' existing and future business strategies.
Provide in-depth analysis on the companies E&P profiles along with the exploration and M&A updates.
Provide valuable insights to those who are tracking oil and gas markets and wants to know the intrinsic value of the companies.
Use the analysis for strategy and planning, M&A identifications, and competitor analysis.
Valuation Report, NAV, Oil and gas valuation, Strategic Evaluation, Strategic and Operational Analysis, Forecasted financial Statements, SWOT, Capital expenditure, Market Scenario, Revenue, Financial Ratios, Production, Reserves, Peer Group Comparison, DCF, Outlook, Investment Thesis, Investment Summary, Cimarex
Table of Contents
1 Table of Contents
1 Table of Contents 3
1.1 List of Tables 5
1.2 List of Figures 6
2 Cimarex Energy Co., Company Overview 8
3 Cimarex Energy Co., Key Highlights 12
3.1 Focus on Exploration Activities Coupled with Huge Inventory of Undeveloped Assets to Further Strengthen Reserve Base 12
3.2 Strong Liquidity Position to Support Future Growth Plans 14
3.3 Cana-Woodford Shale Play; A Strategic Area of Growth 16
4 Cimarex Energy Co., SWOT Analysis 17
4.1 Strengths 17
4.1.1 Expertise in Adding Reserves through Organic Route 17
4.2 Weaknesses 17
4.2.1 Comparatively Lower Reserve Life Index 17
4.3 Opportunities 18
4.3.1 Potential to Increase Oil Production 18
4.4 Threats 18
4.4.1 High Focus on E&D Compared to Production Might Adversely Impact Cimarex's Cash Flows in the Long Run 18
5 Cimarex Energy Co., Goals and Strategies 19
5.1 Expansion of Upstream Assets through the Organic Route 19
5.2 Maintain Strong Financial Position 20
6 Cimarex Energy Co., Production Overview 21
6.1 Production Profile 21
6.2 Assets Portfolio 22
6.2.1 Mid-Continent Region 22
6.2.2 Permian Basin 22
6.2.3 Gulf Coast 23
7 Cimarex Energy Co., Exploration and Development Overview 24
7.1 Mid-Continent Region 26
7.2 Permian Basin 27
7.3 Gulf Coast 28
8 Capital Expenditure 30
8.1 Costs Incurred 31
9 Acreage 32
10 Cimarex Energy Co., Mergers and Acquisitions Highlights 33
11 Cimarex Energy Co., Forecast Production and Financial Statements 34
11.1 Income Statement (2009-2016) 35
11.2 Balance Sheet (2009-2016) 36
11.3 Cash Flow Statement (2009-2016) 37
11.4 Financial Ratios 38
12 Cimarex Energy Co., Valuation 41
12.1 Net Asset Value 41
13 Cimarex Energy Co., Peer Comparision 43
13.1 Share Price Performance 43
13.2 Operational and Financial Performance 44
13.3 Key Financial and Operational Ratio 47
14 Cimarex Energy Co., Detailed Operational and Financial Metrics 49
14.1 Cimarex Energy Co., Total Oil and Gas, Reserves and Production 49
14.1.1 Total Crude Oil and Natural Gas Production and Reserves Trend, 2007-2011 49
14.1.2 Total Crude Oil & Natural Gas Production and Reserves By Country/Region, 2007-2011 50
14.1.3 Total Crude Oil and Natural Gas Reserve Changes, 2007-2011 52
14.2 Cimarex Energy Co., Crude Oil/Liquids Production and Reserve 53
14.2.1 Crude Oil/Liquids Production and Reserve Trend, 2007-2011 53
14.2.2 Crude Oil Production and Reserves By Country/Region, 2007-2011 54