Cimarex Energy Co. was a company engaged in

hydrocarbon exploration Hydrocarbon exploration (or oil and gas exploration) is the search by petroleum geologists and geophysicists for deposits of hydrocarbons, particularly petroleum and natural gas, in the Earth using petroleum geology. Exploration methods Vi ...

, particularly shale oil and gas drilling. It was organized in

Delaware Delaware ( ) is a state in the Mid-Atlantic region of the United States, bordering Maryland to its south and west; Pennsylvania to its north; and New Jersey and the Atlantic Ocean to its east. The state takes its name from the adjacen ...

and headquartered in

Denver, Colorado Denver () is a consolidated city and county, the capital, and most populous city of the U.S. state of Colorado. Its population was 715,522 at the 2020 census, a 19.22% increase since 2010. It is the 19th-most populous city in the United ...

, with operations primarily in

Texas Texas (, ; Spanish language, Spanish: ''Texas'', ''Tejas'') is a state in the South Central United States, South Central region of the United States. At 268,596 square miles (695,662 km2), and with more than 29.1 million residents in 2 ...

, Oklahoma, and

New Mexico ) , population_demonym = New Mexican ( es, Neomexicano, Neomejicano, Nuevo Mexicano) , seat = Santa Fe, New Mexico, Santa Fe , LargestCity = Albuquerque, New Mexico, Albuquerque , LargestMetro = Albuquerque metropolitan area, Tiguex , Offi ...

. As of December 31, 2020, the company had of estimated proved reserves, of which 43% was

natural gas Natural gas (also called fossil gas or simply gas) is a naturally occurring mixture of gaseous hydrocarbons consisting primarily of methane in addition to various smaller amounts of other higher alkanes. Low levels of trace gases like carbon ...

, 27% was

petroleum Petroleum, also known as crude oil, or simply oil, is a naturally occurring yellowish-black liquid mixture of mainly hydrocarbons, and is found in geological formations. The name ''petroleum'' covers both naturally occurring unprocessed crude ...

, and 30% was

natural gas liquids Natural-gas condensate, also called natural gas liquids, is a low-density mixture of hydrocarbon liquids that are present as gaseous components in the raw natural gas produced from many natural gas fields. Some gas species within the raw natur ...

. In 2020, production averaged per day, 69% of which came from the

Permian Basin The Permian ( ) is a geologic period and stratigraphic system which spans 47 million years from the end of the Carboniferous Period million years ago (Mya), to the beginning of the Triassic Period 251.9 Mya. It is the last period of the Paleoz ...

and 31% of which came from the

Mid-Continent oil province The Mid-continent oil field is a broad area containing hundreds of oil fields in Arkansas, Kansas, Louisiana, New Mexico, Oklahoma and Texas. The area, which consists of various geological strata and diverse trap types, was discovered and ex ...

, particularly the Cana–Woodford in western Oklahoma.

History

Cimarex was founded in 2002. The company was a

corporate spin-off A corporate spin-off, also known as a spin-out, or starburst or hive-off, is a type of corporate action where a company "splits off" a section as a separate business or creates a second incarnation, even if the first is still active. Charact ...

Helmerich & Payne Helmerich & Payne, Inc. ( ) is an American petroleum contract drilling company engaged in oil and gas well drilling and related services for exploration and production companies headquartered in Tulsa, Oklahoma, with operations throughout the wo ...

, which sought to separate its exploration and production business from its drilling business. In September 2002, shareholders of

received shares in Cimarex. In 2005, the company acquired Magnum Hunter Resources in a $2.1 billion transaction. In 2008, the company bought 38,000 acres in Oklahoma from

Chesapeake Energy Chesapeake often refers to: *Chesapeake people, a Native American tribe also known as the Chesepian * The Chesapeake, a.k.a. Chesapeake Bay *Delmarva Peninsula, also known as the Chesapeake Peninsula Chesapeake may also refer to: Populated plac ...

for $180 million. In 2012, the company sold assets in

for $294 million. In 2014, Cimarex acquired assets in the Cana-Woodford, including 140 billion cubic feet equivalent of proved reserves and 50,000 net acres, in a $249 million transaction. In 2018, the company sold assets in

Ward County, Texas Ward County is a county located in the U.S. state of Texas. As of the 2020 census, its population was 11,644. The county seat is Monahans. The county was created in 1887 and organized in 1892. It is named for Thomas W. Ward, a soldier in the ...

for $570 million. In March 2019, the company acquired Resolute Energy for $1.6 billion. In October 2021, the company was acquired by Cabot Oil & Gas, forming

Coterra Coterra Energy Inc. is a company engaged in hydrocarbon exploration organized in Delaware and based in Houston, Texas. The company has operations in the Permian Basin (North America), Permian Basin, Marcellus Shale, and the Anadarko Basin. As of ...

References

External links

{{Authority control 2002 establishments in Colorado 2021 mergers and acquisitions Companies formerly listed on the New York Stock Exchange Corporate spin-offs Energy companies established in 2002 Non-renewable resource companies established in 2002