Jerry Box to Step Down as Director of Cimarex Energy Co., Effective May 14, 2015
Feb 25 15
On February 24, 2015, Mr. Jerry Box, who has served as a director of the Cimarex Energy Co. since 2005, notified the Nominating Committee of the Board of Directors of the company that he will not stand for reelection as a director of the company at the annual meeting of shareholders to be held on May 14, 2015. Mr. Box’s decision is not due to any disagreement with the company, or because of any matter relating to the company’s operations, policies or practices. Mr. Box is a member of the Compensation and Governance Committee and the Nominating Committee of the Board.
Cimarex Energy Co. Announces Unaudited Consolidated Earnings and Production Results for the Fourth Quarter and Full Year Ended December 31, 2014
Feb 17 15
Cimarex Energy Co. announced unaudited consolidated earnings and production results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported revenues were $538,551,000 against $516,602,000 a year ago. Operating income was $124,744,000 against $322,394,000 a year ago. Income before income tax was $120,279,000 against $324,223,000 a year ago. Net income was $75,792,000 or $0.86 diluted per share against $206,827,000 or $2.37 diluted per share a year ago. Net cash provided by operating activities was $347,395,000 against $383,600,000 a year ago. Oil and gas expenditures were $477,321,000 against $406,733,000 a year ago. Other capital expenditures were $13,827,000 against $17,256,000 a year ago. Adjusted fourth quarter net income was $76.4 million, or $0.87 per diluted share, compared to fourth-quarter 2013 adjusted net income of $117.6 million, or $1.35 per diluted share. Adjusted cash flow from operations was 342,460,000 compared to $355,469,000 a year ago.
For the full year, the company reported revenues were $2,424,176,000 against $1,998,051,000 a year ago. Operating income was $813,934,000 against $895,638,000 a year ago. Income before income tax was $805,901,000 against $893,700,000 a year ago. Net income was $507,204,000 or $5.78 diluted per share against $564,689,000 or $6.47 diluted per share a year ago. Net cash provided by operating activities was $1,619,365,000 against $1,324,348,000 a year ago. Oil and gas expenditures were $2,108,250,000 against $1,572,288,000 a year ago. Other capital expenditures were $90,611,000 against $51,913,000 a year ago. Adjusted net income for the full year was $5.76 per share. Adjusted cash flow from operations grew 18% in 2014 to $1.63 billion.
For the quarter, the company total production of Gas was 42,743 MMcf against 32,334 MMcf a year ago. Oil production was 4,323,087 Bbls against 3,425,758 Bbls a year ago. NGLs production was 3,112,335 Bbls against 1,993,029 Bbls a year ago.
For the full year, the company total production of Gas was 155,128 MMcf against 125,248 MMcf a year ago. Oil production was 15,638,904 Bbls against 13,380,383 Bbls a year ago. NGLs production was 11,343,430 Bbls against 7,876,123 Bbls a year ago.