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 hydrocarbon deposits, particularly petroleum and natural gas, in the Earth's crust using petroleum geology. Exploration methods ...

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

Delaware Delaware ( ) is a U.S. state, state in the Mid-Atlantic (United States), Mid-Atlantic and South Atlantic states, South Atlantic regions of the United States. It borders Maryland to its south and west, Pennsylvania to its north, New Jersey ...

and headquartered in

Denver, Colorado Denver ( ) is a List of municipalities in Colorado#Consolidated city and county, consolidated city and county, the List of capitals in the United States, capital and List of municipalities in Colorado, most populous city of the U.S. state of ...

, with operations primarily in

Texas Texas ( , ; or ) is the most populous U.S. state, state in the South Central United States, South Central region of the United States. It borders Louisiana to the east, Arkansas to the northeast, Oklahoma to the north, New Mexico to the we ...

Oklahoma Oklahoma ( ; Choctaw language, Choctaw: , ) is a landlocked U.S. state, state in the South Central United States, South Central region of the United States. It borders Texas to the south and west, Kansas to the north, Missouri to the northea ...

, and

New Mexico New Mexico is a state in the Southwestern United States, Southwestern region of the United States. It is one of the Mountain States of the southern Rocky Mountains, sharing the Four Corners region with Utah, Colorado, and Arizona. It also ...

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

natural gas Natural gas (also fossil gas, methane gas, and gas) is a naturally occurring compound of gaseous hydrocarbons, primarily methane (95%), small amounts of higher alkanes, and traces of carbon dioxide and nitrogen, hydrogen sulfide and helium ...

, 27% was

petroleum Petroleum, also known as crude oil or simply oil, is a naturally occurring, yellowish-black liquid chemical mixture found in geological formations, consisting mainly of hydrocarbons. The term ''petroleum'' refers both to naturally occurring un ...

, 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 natura ...

. In 2020, production averaged per day, 69% of which came from the Permian Basin and 31% of which came from the

Mid-Continent oil province The Mid-continent oil field is a broad area containing hundreds of Petroleum reservoir, oil fields in the U.S. states of Arkansas, Kansas, Louisiana, New Mexico, Oklahoma and Texas. The area, which consists of various geological Stratum, strata a ...

, particularly the Cana–Woodford in western

History

Cimarex was founded in 2002. The company was a

corporate spin-off A corporate spin-off, also known as a spin-out, 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. It is distinct ...

of Helmerich & Payne, which sought to separate its exploration and production business from its drilling business. In September 2002, shareholders of Helmerich & Payne 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 Expand Energy Corporation, headquartered in Oklahoma City, is the largest independent natural gas producer in the U.S. based on net daily production. The company operates in the Appalachian Basin of the Marcellus Formation in Pennsylvania and ...

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 an American energy company engaged in hydrocarbon exploration based in Houston, Texas. The company has operations in the Permian Basin, Marcellus Shale, and the Anadarko Basin. , the company had of estimated proved reser ...

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