Cimarex Energy (XEC) is one of those shale oil drillers which have burned cash flows in the past but the company has substantially improved its cost structure and is looking much better now heading into 2020. I think next year could be the one when Cimarex Energy posts solid free cash flows while growing production.
Image courtesy of Pixbay
Cimarex Energy has struggled with weak cash flows in the past. In 2018, the company generated $1.53 billion of cash flow from operations (as adjusted) but spent $1.57 billion as exploration and development expenditure.