Cimarex Energy Reports Fourth-Quarter and Full-Year 2012 Results

       Cimarex Energy Reports Fourth-Quarter and Full-Year 2012 Results

- Fourth-quarter net income of $99.2 million

- Record quarterly production of 677 million cubic feet equivalent per day

- Year-end proved reserves increased 10% to 2.3 trillion cubic feet equivalent

PR Newswire

DENVER, Feb. 19, 2013

DENVER, Feb. 19, 2013 /PRNewswire/ --Cimarex Energy Co. (NYSE: XEC) today
reported fourth-quarter 2012 net income of $99.2 million, or $1.14 per diluted
share. This compares to fourth-quarter 2011 earnings of $116.9 million, or
$1.36 per diluted share. Fourth-quarter 2012 results include a $16.4 million
royalty litigation charge ($0.12 per share after-tax) and a $11.1 million
benefit for severance tax refunds ($0.08 per share after-tax) totaling a net
reduction for the quarter of $0.04 per share after-tax.

Oil, gas and natural gas liquids (NGLs) revenue in the fourth quarter of 2012
totaled $429.8 million, a 3% increase compared to $417.5 million in the same
period of 2011. Fourth-quarter 2012 adjusted cash flow from operations was
$300.1 million versus $310.2 million a year ago^(1). 

Fourth-quarter 2012 production volumes averaged a record 676.7 million cubic
feet equivalent (MMcfe) per day as compared to fourth-quarter 2011 output of
601.4 MMcfe per day. Oil production grew 28% to a record 35,099 barrels per
day. Permian Basin oil production grew 42% to 27,091 barrels per day.
Combined fourth-quarter 2012 Permian and Mid-Continent volumes hit an all-time
high of 643.3 MMcfe per day, growing 21% over the same period in 2011.
Fourth-quarter 2012 production volumes were 49% gas, 31% oil and 20% NGLs.

Full-year 2012 net income totaled $353.8 million, or $4.07 per diluted share,
as compared to $529.9 million, or $6.15 per share, for 2011. Full-year 2012
adjusted cash flow from operations totaled $1.13 billion versus $1.31 billion
for 2011^(1).

At year-end the previously announced sale of $294 million of certain non-core,
long-lived oil and gas properties was closed. The properties had current
production of approximately 2,550 barrels equivalent (Boe) per day (75% oil)
and proved reserves of 9.1 million barrels equivalent.

Full-year 2012 investment for exploration and development totaled $1.6
billion. Funding of the capital program was largely provided by cash flow and
property sales. Long-term debt at December 31, 2012 was $750 million. Debt to
total capitalization at quarter-end was 18%^(2). 

Proved Reserves

Year-end 2012 proved reserves grew 10% to 2.3 trillion cubic feet equivalent
(Tcfe). Adjusting for the impact of property sales, proved reserves increased
13%. Proved reserves are 80% developed at year-end 2012 as compared to 82% at
year-end 2011.

Reserves added from extensions and discoveries totaled 757 billion cubic feet
equivalent (Bcfe), replacing 330% of production. Reserve additions were
comprised of 51% oil and natural gas liquids (liquids) and 49% gas. With
continued focus on liquids-rich production, the amount of proved reserves
comprised of liquids at year-end 2012 increased to 45% as compared to 41% at
year-end 2011. Proved reserves at year-end 2012 include 1.13 Tcfe in our
western Oklahoma, Cana-Woodford shale play comprised of 678 Bcfe of proved
developed and 450 Bcfe of proved undeveloped reserves.

                                             Gas      Oil      NGLs    Total
                                             (Bcf)    (MBbl)   (MBbl)  (Bcfe)
Total proved reserves
Beginning of year                           1,216.4  72,322   65,815  2,045.2
 Revisions of previous estimates           (211.4)  (3,154)  (4,492) (257.3)
 Extensions and discoveries                372.5    27,817   36,324  757.3
 Purchase of reserves                      -        14       2       0.2
 Production                               (118.5)  (11,516) (6,952) (229.3)
 Sale of properties                        (7.1)    (7,562)  (788)   (57.3)
End of year                                  1,251.9  77,921   89,909  2,258.8
Proved developed reserves
 Year-end 2011                             989.5    68,250   44,755  1,667.5
 Year-end 2012                             985.4    73,524   63,757  1,809.0
                                             2012     2011     % Chg.
Pre-tax PV-10 ($ in millions) ^(3)          $4,165.9 $4,594.9 -9%
Standardized Measure ($ in millions)         $2,908.7 $3,139.8 -7%
Average prices used in Standardized Measure
^(4)
Gas price per Mcf                            $2.27    $3.79    -40%
Oil price per barrel                         $88.91   $89.64   -1%
NGL price per barrel                         $29.12   $41.70   -30%

2013 Outlook

Total company 2013 volumes are projected to average 675-705 MMcfe per day, an
increase of 8-13% over 2012. Adjusting for the impact of property sales,
growth for 2013 totals 10-15%. Liquids are projected to account for 51% of
total equivalent production, up from 48% in 2012. Mid-Continent and Permian
2013 production volumes are projected to grow 11-15% over 2012, averaging
between 652-673 MMcfe per day. Gulf Coast volumes are projected to average
23-32 MMcfe per day for 2013, or 4% of total estimated company volumes.

In the first quarter of 2013, total company volumes are projected to average
642-667 MMcfe per day, a 6-10% increase over 2012. First-quarter 2013
Mid-Continent and Permian production volumes are projected to increase 12-15%
over first-quarter 2012, to within a range of 620-639 MMcfe per day. Gulf
Coast volumes are projected to average 22-28 MMcfe per day for the first
quarter of 2013.

Full-year 2013 capital expenditures are expected to range from $1.4-$1.5
billion. Nearly all the 2013 capital is directed towards drilling oil 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.

An approximate breakdown of the mid-point of our potential 2013 E&D capital
investment and actual 2012 by region is provided below.

($ in millions) 2013 E&D Estimate  2012 E&D
Permian         $ 900     62%      $ 889.1 55%
Mid-Continent   450       31%      673.2    41%
Gulf Coast      75        5%       46.3     3%
Other           25        2%       14.4     1%
                $1,450    100%     $1,623.0 100%

Expenses for 2013 are expected to fall within the following ranges:

Expenses ($/Mcfe):
 Production expense                                 $1.05 - $1.17
 Transportation expense                              0.27 - 0.32
 DD&A and ARO accretion                              2.40 - 2.55
 General and administrative expense                  0.22 - 0.28
 Taxes other than income (% of oil and gas revenue) 6.0% - 6.5%

Other

In January 2013 we entered into oil swaps and collars covering 2013
production. The following table summarizes the current open hedge positions:

Oil Contracts

                                             Weighted Average Price
                      Daily
Period        Type                Index^(6)  Floor    Ceiling    Swap
                      Volume^(5)
Feb.-Dec. 13  Swaps   6,000       WTI          NA       NA     $ 96.13
Feb.-Dec. 13  Collar  6,000       WTI        $ 85.00  $ 102.31 $ NA
                      12,000

Cimarex accounts for commodity contracts using the mark-to-market (through
income) accounting method. Fourth-quarter or full-year 2012 had no cash
settlements.

Exploration and Development Activity

Cimarex's drilling activities are principally conducted within two main
areas: Permian Basin and Mid-Continent. Permian activity is primarily
directed to the Delaware Basin of southeast New Mexico and West Texas. The
majority of our Mid-Continent drilling is in the western Oklahoma
Cana-Woodford shale.

Cimarex drilled and completed 352 gross (192 net) wells during 2012, investing
$1.6 billion on exploration and development. Of total expenditures, 55% were
invested in projects located in the Permian Basin; 41% in the Mid-Continent;
and 4% in the Gulf Coast and other.

                                   For the Three Months  For the Twelve Months
                                   Ended December 31,    Ended December 31,
                                   2012         2011     2012          2011
Gross wells
 Permian Basin                   51           34       182           140
 Mid-Continent                   48           52       167           180
 Gulf Coast/Other                -            3        3             11
                                   99           89       352           331
Net wells
 Permian Basin                   34           21       122           100
 Mid-Continent                   20           12       69            64
 Gulf Coast/Other                -            3        1             10
                                   54           36       192           174
% Gross wells completed as         92%          97%      95%           96%
producers

At year-end 30 net wells were drilled and awaiting completion: 22
Mid-Continent and eight Permian Basin. Cimarex currently has 18 operated rigs
running; 14 in the Permian Basin and four in the Mid-Continent. 

Permian Basin

Cimarex drilled and completed 182 gross (122 net) Permian Basin wells during
2012, completing 94% as producers. At quarter-end, 11 gross (8 net) wells
were awaiting completion. Drilling principally occurred in the Delaware Basin
of Texas and southeast New Mexico, mainly targeting the Bone Spring and
Wolfcamp formations. Fourth-quarter 2012 Permian production averaged 292.1
MMcfe per day, an overall increase of 36% over fourth-quarter 2011, and 42%
growth in oil volumes to 27,091 barrels per day.

Full-year 2012 New Mexico Bone Spring wells drilled and completed totaled 64
gross (34 net). Per-well 30-day gross production from the 2012 Bone Spring
wells averaged over 640 Boe per day (90% oil). Texas Third Bone Spring
drilling totaled 43 gross (26 net) wells, which had per-well 30-day average
gross production rates of over 1,000 Boe per day (85% oil).

Cimarex continues to evaluate the Wolfcamp shale in the Delaware Basin,
primarily in southern Eddy County New Mexico (White City) and northern
Culberson County Texas. Year-to-date Cimarex has drilled and completed 15
gross (14 net) horizontal Wolfcamp wells, bringing total wells in the play to
33 gross (31 net). Per well first-30 day production rates on all the wells
drilled to date have averaged 6.4 MMcfe per day, comprised of 2.8 MMcf per day
of gas, 280 barrels per day of oil and 325 barrels per day of NGLs (assuming
full NGL recovery), or 44% gas, 26% oil and 30% NGL.

Mid-Continent

For 2012 Cimarex drilled and completed 167 gross (69 net) wells, completing
98% as producers. At year-end, 53 gross (22 net) wells were awaiting
completion. Mid-Continent production averaged 351.2 MMcfe per day for the
fourth quarter of 2012, an 11% increase over fourth-quarter 2011 average of
316.1 MMcfe per day.

The majority of drilling has been in the Anadarko Basin, Cana-Woodford shale
play, where Cimarex drilled and completed 149 gross (61 net) wells. At
year-end, 46 gross (21 net) wells were being completed or awaiting completion
in this area. Fourth-quarter 2012 net production from Cana-Woodford averaged
214.6 MMcfe per day, a 36% increase versus the fourth-quarter 2011 average of
157.9 MMcfe per day.

Gulf Coast

Cimarex participated in three gross (0.8 net) outside operated Yegua/Cook
Mountain wells in 2012, of which one gross well was successful. Gulf Coast
production averaged 31.9 MMcfe per day for the fourth quarter of 2012, a 54%
decrease as compared to the fourth-quarter 2011 average of 68.9 MMcfe per day.
The decreased output is a result of natural decline in highly-productive wells
drilled near Beaumont, Texas.

Production by Region

Cimarex's average daily production by commodity and region is summarized
below:

                       For the Three Months Ended  For the Twelve Months Ended
                       December 31,                December 31,
                       2012            2011        2012             2011
Gas (Mcf per day)
Permian Basin          84,363          77,731      79,605           73,557
Mid-Continent          229,924         218,576     221,305          202,953
Gulf Coast/Other       19,091          37,891      22,848           52,567
                       333,378         334,198     323,758          329,077
Oil (Barrels per day)
Permian Basin          27,091          19,123      23,908           16,770
Mid-Continent          6,735           5,843       6,037            5,692
Gulf Coast/Other       1,273           2,465       1,518            4,327
                       35,099          27,431      31,463           26,789
NGL (Barrels per day)
Permian Basin          7,527           3,761       6,776            3,365
Mid-Continent          13,483          10,409      10,826           9,255
Gulf Coast/Other       1,108           2,937       1,392            4,466
                       22,118          17,107      18,994           17,086
Total Equivalent (Mcfe
per day)
Permian Basin          292,071         215,035     263,709          194,367
Mid-Continent          351,232         316,088     322,483          292,635
Gulf Coast/Other       33,379          70,306      40,308           105,321
                       676,682         601,429     626,500          592,323

Conference call and web cast

Cimarex will also host a conference call today at 11:00 a.m. Mountain Time
(1:00 p.m. Eastern Time). To access the live, interactive call, please dial
(877) 789-9039 and reference call ID # 73998777 ten minutes before the
scheduled start time. A digital replay will be available for one week
following the live broadcast at (855) 859-2056 and by using the conference ID
# 73998777. The listen-only web cast of the call will be accessible via
www.cimarex.com.

Investor Presentation

For more details on Cimarex's full-year 2012 financial and operating results,
please refer to the year-end investor presentation available at
www.cimarex.com on the Investor Relations-Presentation page.

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 and Permian
Basin 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.

(1) Cash flow from operations is a non-GAAP financial measure. See below for
    a reconciliation of the related amounts.
    Reconciliation of debt to total capitalization, which is a non-GAAP
(2) measure, is: long-term debt of $750 million divided by long-term debt of
    $750 million plus stockholders' equity of $3,474.7 million.
    Pre-tax PV-10% is a non-GAAP financial measure. Pre-tax PV-10% is
    comparable to the standardized measure, which is the most directly
    comparable GAAP financial measure. Pre-tax PV-10% is computed on the same
    basis as the standardized measure but without deducting future income
    taxes. As of December 31, 2012 and 2011, Cimarex's discounted future
    income taxes were $1,257.2 million and $1,455.1 million, respectively.
    Cimarex's standardized measure of discounted future net cash flows was
    $2,908.7 million at year-end 2012 and $3,139.8 million at year-end 2011.
(3) Cimarex believes pre-tax PV-10% is a useful measure for investors for
    evaluating the relative monetary significance of its oil and natural gas
    properties. Cimarex further believes investors may utilize its pre-tax
    PV-10% as a basis for comparison of the relative size and value of its
    reserves to other companies because many factors that are unique to each
    individual company impact the amount of future income taxes to be paid.
    However, pre-tax PV-10% is not a substitute for the standardized measure
    of discounted future net cash flows. Cimarex's pre-tax PV-10% and the
    standardized measure of discounted future net cash flows do not purport to
    present the fair value of its oil and natural gas reserves.
    Year-end 2012 reserve estimates are based on trailing 12-month average
(4) prices of $2.76 per MMBtu of natural gas (Henry Hub) and $94.71 per barrel
    of oil (WTI).
(5) Average daily volume in barrels per day.
(6) WTI refers to West Texas Intermediate oil price as quoted on the New York
    Mercantile Exchange.



RECONCILIATION OF ADJUSTED CASH FLOW FROM OPERATIONS
                        For the Three Months Ended       For the Twelve Months
                                                         Ended
                        December 31,                     December 31,
                        2012              2011           2012        2011
                        (in thousands)
Net cash provided by $  356,616      $    320,752     $  1,192,764 $ 1,292,275
operating activities
     Change in
     operating          (56,540)          (10,578)       (58,049)    22,686
     assets and
     liabilities
Adjusted cash flow   $  300,076      $    310,174     $  1,134,715 $ 1,314,961
from operations
Management believes that the non-GAAP measure of adjusted cash flow from
operations is useful information for investors because it is used internally
and is accepted by the investment community as a means of measuring the
company's ability to fund its capital program, without fluctuations caused by
changes in current assets and liabilities, which are included in the GAAP
measure of cash flow from operating activities. It is also used by
professional research analysts in providing investment recommendations
pertaining to companies in the oil and gas exploration and production
industry.



PRICE AND PRODUCTION DATA
                       For the Three Months Ended  For the Twelve Months Ended
                       December 31,                December 31,
                       2012           2011         2012           2011
 Total gas            30,670,814     30,746,238   118,495,355    120,112,992
 production - Mcf
 Gas volume - Mcf     333,378        334,198      323,758        329,077
 per day
 Gas price - per      $3.35          $3.90        $2.88          $4.42
 Mcf
 Total oil
 production -          3,229,095      2,523,676    11,515,598     9,777,923
 barrels
 Oil volume -         35,099         27,431       31,463         26,789
 barrels per day
 Oil price - per      $83.04         $92.76       $89.25         $93.00
 barrel
 Total NGL
 production -          2,034,893      1,573,862    6,951,646      6,236,238
 barrels
 NGL volume -         22,118         17,107       18,994         17,086
 barrels per day
 NGL price - per      $28.99         $40.29       $30.66         $42.31
 barrel



PROVED RESERVES BY REGION
                   Gas      Oil      NGL      Total
                   (Bcf)    (MBbls)  (MBbls)  (Bcfe)
 Mid-Continent     996.8    17,984   70,615   1,528.3
 Permian Basin     233.2    58,623   18,634   696.8
 Gulf Coast/Other  21.9     1,314    660      33.7
                   1,251.9  77,921   89,909   2,258.8



OIL AND GAS CAPITALIZED EXPENDITURES
                      For the Three Months Ended   For the Twelve Months Ended
                      December 31,                 December 31,
                      2012            2011         2012            2011
                      (in thousands)
Acquisitions:
Proved              $ 2,658       $   1,467      $ 2,645       $   23,071
Unproved              19,521          1,900        30,870          22,327
                      22,179          3,367        33,515          45,398
Exploration and
development:
Land and Seismic      35,347          17,453       121,960         164,285
Exploration and       380,199         382,980      1,500,952       1,415,774
development
                      415,546         400,433      1,622,912       1,580,059
Sale proceeds:
Proved                (290,346)       (5,800)      (301,425)       (107,992)
Unproved              (3,349)         (7,381)      (4,437)         (9,352)
                      (293,695)       (13,181)     (305,862)       (117,344)
                    $ 144,030     $   390,619    $ 1,350,565   $   1,508,113



CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME
(unaudited)
                                  For the Three Months   For the Twelve Months
                                  Ended                  Ended
                                  December 31,           December 31,
                                  2012        2011       2012        2011
                                  (In thousands, except per share data)
Revenues:
  Gas sales                     $ 102,642  $  120,003  $ 340,744   $ 530,334
  Oil sales                       268,148     234,105    1,027,757   909,344
  NGL sales                       58,989      63,414     213,149     263,842
  Gas gathering, processing and   11,089      12,749     42,288      54,369
  other, net
                                  440,868     430,271    1,623,938   1,757,889
Costs and expenses:
  Depreciation, depletion,        141,971     114,135    526,935     401,912
  amortization and accretion
  Production                      65,766      65,490     258,584     247,048
  Transportation                  16,388      15,152     57,354      56,711
  Gas gathering and processing    6,663       5,855      21,965      23,327
  Taxes other than income         14,256      27,843     86,994      126,468
  General and administrative      12,905      10,522     54,428      45,256
  Stock compensation, net         4,400       4,987      21,919      18,949
  (Gain) loss on derivative       416         1,031      (245)       (10,322)
  instruments, net
  Other operating, net            17,666      2,168      24,961      10,263
                                  280,431     247,183    1,052,895   919,612
Operating income                  160,437     183,088    571,043     838,277
Other (income) and expense:
  Interest expense               12,721      7,348      45,573      29,539
  Amortization of deferred        1,026       664        3,744       6,072
  financing costs
  Capitalized interest            (9,020)     (7,227)    (35,174)    (29,057)
  Loss on early extinguishment    —           —          16,214      —
  of debt
  Other, net                      (1,150)     (2,532)    (19,864)    (9,758)
Income before income tax          156,860     184,835    560,550     841,481
Income tax expense                57,708      67,966     206,727     311,549
Net income                      $ 99,152   $  116,869  $ 353,823   $ 529,932
Earnings per share to common
stockholders:
  Basic                        $ 1.14     $  1.36     $ 4.08      $ 6.17
  Diluted                       $ 1.14     $  1.36     $ 4.07      $ 6.15
Dividends per share             $ 0.12     $  0.10     $ 0.48      $ 0.40
Shares attributable to common
stockholders:
  Unrestricted common shares      84,757      83,755     84,757      83,755
  outstanding
  Diluted common shares           84,849      84,106     85,034      84,153
Shares attributable to common
stockholders and participating
securities:
  Basic shares outstanding        86,630      85,834     86,630      85,834
  Fully diluted shares           86,722      86,185     86,907      86,232
Comprehensive income:
  Net income                    $ 99,152   $  116,869  $ 353,823   $ 529,932
  Other comprehensive income:
      Change in fair value of     (14)        139        488         (278)
      investments, net of tax
  Total comprehensive income    $ 99,138   $  117,008  $ 354,311   $ 529,654



CONDENSED CASH FLOW STATEMENTS (unaudited)
                             For the Three Months    For the Twelve Months
                             Ended                   Ended
                             December 31,            December 31,
                             2012        2011        2012          2011
                             (In thousands)
Cash flows from operating
activities:
 Net income                $ 99,152    $ 116,869   $ 353,823     $ 529,932
 Adjustment to reconcile
 net income to net cash
 provided by operating
 activities:
    Depreciation,
    depletion,               141,971     114,135     526,935       401,912
    amortization and
    accretion
    Deferred income taxes    57,568      68,636      208,216       357,622
    Stock compensation,      4,400       4,987       21,919        18,949
    net
    Derivative               416         3,925       (245)         (3,611)
    instruments, net
    Loss on early            —           —           16,214        —
    extinguishment of debt
    Changes in non-current   (4,805)     699         3,125         4,418
    assets and liabilities
    Amortization of
    deferred financing       1,374       923         4,728         5,739
    costs and other, net
 Changes in operating
 assets and liabilities:
    (Increase) decrease in   32,037      (16,403)    56,435        (48,632)
    receivables, net
    (Increase) decrease in   (4,554)     1,857       4,209         32,593
    other current assets
    Increase (decrease) in
    accounts payable         29,057      25,124      (2,595)       (6,647)
    andaccrued
    liabilities
          Net cash
          provided by        356,616     320,752     1,192,764     1,292,275
          operating
          activities
Cash flows from investing
activities:
 Oil and gas expenditures    (480,965)   (409,483)   (1,662,707)   (1,562,159)
 Sales of oil and gas        299,395     13,181      311,562       117,344
 assets
 Sales of other assets       510         174         1,060         112,011
 Other expenditures          (22,074)    (26,592)    (64,987)      (96,642)
          Net cash used by
          investing          (203,134)   (422,720)   (1,415,072)   (1,429,446)
          activities
Cash flows from financing
activities:
 Net increase (decrease)     (80,000)    55,000      (55,000)      55,000
 in bank debt
 Increase in other           —           —           750,000       —
 long-term debt
 Decrease in other           —           —           (363,595)     —
 long-term debt
 Financing costs incurred    —           (31)        (13,821)      (7,379)
 Dividends paid              (10,378)    (8,583)     (39,577)      (32,581)
 Issuance of common stock    1,023       828         11,433        10,411
 and other
          Net cash
          provided by
          (used in)          (89,355)    47,214      289,440       25,451
          financing
          activities
Net change in cash and       64,127      (54,754)    67,132        (111,720)
cash equivalents
Cash and cash equivalents    5,411       57,160      2,406         114,126
at beginning of period
Cash and cash equivalents  $ 69,538    $ 2,406     $ 69,538      $ 2,406
at end of period



CONDENSED BALANCE SHEETS (unaudited)
                                             December 31,       December 31,
Assets                                       2012               2011
                                             (In thousands, except share data)
Current assets:
 Cash and cash equivalents                 $ 69,538         $   2,406
 Receivables, net                            302,974            359,409
 Oil and gas well equipment and supplies     81,029             85,141
 Deferred income taxes                       8,477              2,723
 Other current assets                        8,119              8,216
          Total current assets               470,137            457,895
Oil and gas properties at cost, using the
full cost method of accounting:
 Proved properties                           11,258,748         9,933,517
 Unproved properties and properties under
 development,
          not being amortized                645,078            607,219
                                             11,903,826         10,540,736
 Less – accumulated depreciation,            (6,899,057)        (6,414,528)
 depletion and amortization
          Net oil and gas properties         5,004,769          4,126,208
Fixed assets, net                            152,605            118,215
Goodwill                                     620,232            620,232
Other assets, net                            57,409             34,827
                                           $ 6,305,152      $   5,357,377
Liabilities and Stockholders' Equity
Current liabilities:
 Accounts payable                          $ 103,653        $   79,788
 Accrued liabilities                         392,909            385,651
 Derivative instruments                      —                  245
 Revenue payable                             149,300            150,655
          Total current liabilities          645,862            616,339
Long-term debt                               750,000            405,000
Deferred income taxes                        1,121,353          903,732
Other liabilities                           313,201            301,693
          Total liabilities                  2,830,416          2,226,764
Stockholders' equity:
 Preferred stock, $0.01 par value,
 15,000,000 shares authorized, no shares     —                  —
 issued
 Common stock, $0.01 par value,
 200,000,000 shares authorized, 86,595,976   866                858
 and 85,774,084 shares issued,
 respectively
 Paid-in capital                             1,939,628          1,908,506
 Retained earnings                           1,533,768          1,221,263
 Accumulated other comprehensive income      474                (14)
 (loss)
                                             3,474,736          3,130,613
                                           $ 6,305,152      $   5,357,377



SOURCE Cimarex Energy Co.

Website: http://www.cimarex.com
Contact: Mark Burford, Cimarex Energy Co., Vice President - Capital Markets
and Planning, 303-295-3995
 
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