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Cimarex Energy (XEC)
Even hurricane-related disruptions in the Gulf of Mexico weren't enough to shut down growth at this Denver oil and gas producer. The outfit, which works wells in the gulf and across West Texas and New Mexico, was helped by its midyear acquisition of Magnum Hunter Resources for $2.1 billion in stock and the assumption of debt. That helped drive net income and revenues, both of which more than doubled, with net income rising 113% to $328.3 million while revenues jumped 135% to $1.1 billion. Gas production rose 77% in the final quarter of the year alone, while oil volumes leapt 125%, despite reductions in the gulf. Repairs to the last of its damaged facilities, along with additions from Magnum, should help power still more gains this year. Investors have prospered. The company went public at $17.25 a share in late 2002. The stock now trades for more than $40.
Company Info |
|
| 2005 Rank | 38 |
| Market Value* ($ Millions) | 3,538.1 |
| Sales* ($ Millions) | 1,332.4 |
| Sales Growth (3-yr. avg. annual) |
81.2 % |
| Profits* ($ Millions) | 328.3 |
| Profit Growth (3-yr. avg. annual) | 98.0 % |
| Return on Inv. Capital (3-yr.) | 13.0 % |
| Share Price 12-Mo. Hi/Lo | 48/33 |
| Share Price As of 4/28/06 | 43 |
| Return on Equity | 12.7 % |
| P/E Ratio | 9 |
| No. of Employees | 689 |
| Industry | Oil & Gas Exploration & Production |
| CURRENT MARKET INFO | XEC > |
| COMPANY WEB SITE > | |
| Location | Denver |
| Phone | 303 295-3995 |
*Trailing 12 months
Stock price data as of 4/28/06
DATA: Standard & Poor's Compustat
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Company Snapshot
Cimarex Energy operates as an oil and gas exploration and production company in the U.S. Its exploration properties are located in Oklahoma, the Texas panhandle, and southwest Kansas; the Permian Basin region of west Texas and southeast New Mexico; the upper Gulf Coast areas of Texas, south Louisiana and Mississippi; and the Gulf of Mexico. The company also has smaller projects in Michigan, North Dakota, and California. In addition, it provides compression, gathering, and gas processing services. As of Dec. 31, 2005, the company's proved oil and gas reserves totaled 1.4 trillion cubic feet, consisting of 1 trillion cubic feet of gas and 64.7 million barrels of oil and natural gas liquids. Cimarex Energy was founded in 2002 and has its headquarters in Denver, Colo.
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