Cimarex Announces Property Sale
DENVER, Nov. 6, 2012
DENVER, Nov. 6, 2012 /PRNewswire/ -- Cimarex Energy Co. (NYSE: XEC) announced
today that it has entered into an agreement to sell for $294 million certain
non-core long-lived oil and gas properties in Texas. The sale is expected to
close before year-end 2012 and is subject to satisfactory completion of
customary due diligence.
The properties have current production of approximately 2,550 barrels
equivalent per day (75% oil) and proved reserves of 9.4 million barrels
About Cimarex Energy
Denver-based Cimarex Energy Co. is an independent oil and gas exploration and
production company with principal operations in the Mid-Continent, Permian
Basin and Gulf Coast areas of the U.S.
This communication contains statements that constitute forward-looking
statements within the meaning of the Private Securities Litigation Reform Act
of 1995. These statements are based on current expectations and beliefs and
are subject to a number of risks, uncertainties and assumptions that could
cause actual results to differ materially from those described in the
forward-looking statements. These risks and uncertainties are more fully
described in SEC reports filed by Cimarex. While Cimarex makes these
forward-looking statements in good faith, management cannot guarantee that
anticipated future results will be achieved. Cimarex assumes no obligation and
expressly disclaims any duty to update the information contained herein except
as required by law.
SOURCE Cimarex Energy Co.
Contact: Mark Burford, Vice President - Capital Markets and Planning, Cimarex
Energy Co., +1-303-295-3995, www.cimarex.com
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