Cimarex Energy up 10% on Strong Q4 Earnings
Cimarex Energy (NYSE: XEC) is trading higher on the session following its Q4 earnings announcement. The company reported EPS $1.36 vs $1.30 estimate and revenues of $430.3 million vs $417.73 million estimate.
In addition, Cimarex said its year-end 2011 proved reserves grew 9% to 2.05 trillion cubic feet equivalent, up from 1.88 Tcfe at year-end 2010. The increase was achieved despite selling 226 Bcfe of proved reserves, the majority of which was related to the Sublette County Wyoming Riley Ridge gas plant project.
Cimarex is currently trading at $75.91, a gain of $7.13 or 10.37%.
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