XEC - Cimarex Energy: Free Cash Flows Ahead But Production Outlook Raises Questions
Cimarex Energy (XEC) has delivered solid fourth quarter results and now looks well positioned to continue generating free cash flows as long as oil prices remain above $50 a barrel. However, the Denver, Colorado-based shale oil producer has given an underwhelming production growth forecast which was below my conservative estimate.
Earnings recap
Cimarex Energy recently released solid results for the fourth quarter in which it has showcased the strength of its business which can turn a decent profit as well as free cash flows in a weak oil price environment.
Cimarex Energy produced