XEC - Cimarex Energy: Another Guidance Raise For 2019 And Good Performance Expected In 2020
Cimarex Energy (XEC) has performed well operationally in 2019, raising its production guidance three times so far, while also lowering its capital expenditure budget modestly. It is poised to deliver positive cash flow while growing production modestly in 2020, even with $50 WTI oil and $2.50 NYMEX natural gas.
Guidance Changes
Cimarex increased its full-year 2019 production guidance again for the third consecutive quarter. Cimarex originally expected to average 250,000 to 270,000 BOEPD. It now expects 274,000 to 278,000 BOEPD, which is a 6% increase from its original guidance (based on guidance midpoint)