Cimarex Energy Co. (XEC) Tops Q4 EPS by 6c, Offers FY12 Outlook
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Price: $87.20 --0%
Financial Fact:
Gas gathering, processing and other: 9.82M
Today's EPS Names:
VAXX, NMRD, EGRX, More
Financial Fact:
Gas gathering, processing and other: 9.82M
Today's EPS Names:
VAXX, NMRD, EGRX, More
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Cimarex Energy Co. (NYSE: XEC) reported Q4 EPS of $1.36, $0.06 better than the analyst estimate of $1.30.
2012 Outlook:
Full-year 2012 Mid-Continent and Permian production volumes are projected to grow 19-25% above 2011, averaging between 580-610 MMcfe/d. Gulf Coast volumes, assuming no drilling contribution, are projected to average 35-40 MMcfe/d for 2012, or 6% of total estimated company volumes. Total company 2012 volumes are projected to average 615-650 MMcfe/d, or 4%-10% growth over 2011.
First-quarter 2012 Mid-Continent and Permian production volumes are projected to increase 25%-28% over first-quarter 2011, to within a range of 550-565 MMcfe/d. Gulf Coast volumes, assuming no drilling contribution, are projected to average 45-50 MMcfe/d for the first quarter of 2012. Total company first-quarter 2012 volumes are projected to average 595-615 MMcfe/d.
Full-year 2012 capital expenditures are expected to range from $1.4-$1.6 billion. Nearly all the 2012 capital is directed towards oil drilling or liquids-rich gas in the Permian and Cana-Woodford. We have a large inventory of drilling opportunities, limited lease expirations and few service commitments. Actual amount invested will depend on our calculated rate of return which is significantly influenced by commodity prices.
For earnings history and earnings-related data on Cimarex Energy Co. (XEC) click here.
2012 Outlook:
Full-year 2012 Mid-Continent and Permian production volumes are projected to grow 19-25% above 2011, averaging between 580-610 MMcfe/d. Gulf Coast volumes, assuming no drilling contribution, are projected to average 35-40 MMcfe/d for 2012, or 6% of total estimated company volumes. Total company 2012 volumes are projected to average 615-650 MMcfe/d, or 4%-10% growth over 2011.
First-quarter 2012 Mid-Continent and Permian production volumes are projected to increase 25%-28% over first-quarter 2011, to within a range of 550-565 MMcfe/d. Gulf Coast volumes, assuming no drilling contribution, are projected to average 45-50 MMcfe/d for the first quarter of 2012. Total company first-quarter 2012 volumes are projected to average 595-615 MMcfe/d.
Full-year 2012 capital expenditures are expected to range from $1.4-$1.6 billion. Nearly all the 2012 capital is directed towards oil drilling or liquids-rich gas in the Permian and Cana-Woodford. We have a large inventory of drilling opportunities, limited lease expirations and few service commitments. Actual amount invested will depend on our calculated rate of return which is significantly influenced by commodity prices.
For earnings history and earnings-related data on Cimarex Energy Co. (XEC) click here.
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