Cimarex Entered Into An Agreement To Sell Its Interest In RIley Ridge Federal Unit and Gas Plant

- Cimarex Entered Into An Agreement To Sell Its Interest In RIley Ridge Federal Unit and Gas Plant



Jun 28, 2011

Cimarex (NYSE:XEC) announced that it entered into an agreement to sell for $191 million its 57.5% operated working interest in the Riley Ridge Federal Unit and gas plant located in southwestern Wyoming. The sale is expected to close in July and is subject to satisfactory completion of customary due diligence.

The sale does not impact the company's expected 2011 production estimates, as the plant was not expected to come online until later this year.

Cimarex Energy has a potential upside of 39.2% based on a current price of $86.76 and an average consensus analyst price target of $120.73.

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Cimarex Energy Reports Mixed Q1, EPS Misses By $0.21, Revenue Beats

Cimarex Energy Reports Mixed Q1, EPS Misses By $0.21, Revenue Beats



May 6, 2011

Cimarex Energy Co. (NYSE:XEC) reported Q1 EPS of $1.37 today, missing the consensus estimate for $1.58 per share. Revenues for the quarter were down 5% year-over-year to $426.60 million, beating the consensus estimate for $413.69 million.

F.H. Merelli, Chairman, President and Chief Executive Officer said, "We remain focused on profitable growth and maximizing our return on investment. We have a large inventory of drilling opportunities and limited lease expirations."

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