Cimarex Energy sees Q3 production volumes 206 -215 MBOE per day
Adjusting for the previously announced sale of assets in Ward County, Texas (assuming an August 31 close), third quarter 2018 production volumes are expected to average 206 -215 MBOE per day with oil volumes estimated to average 61,500 - 64,500 barrels per day. The total 2018 daily production volumes are now expected to average 214 - 221 MBOE per day with annual oil volumes now estimated to average 66,000 - 68,000 barrels per day. On a pro forma basis (excluding Ward volumes entirely), Cimarex expects 2018 total production (MBOE per day) and oil production (barrels per day) to grow 14-18 percent and 20-25 percent over 2017 volumes, respectively. Additionally, the company expects oil volumes in the fourth quarter to average 75,000 - 81,000 barrels per day, or 33-43 percent higher than the pro forma fourth quarter 2017 average.