13 July 2020director interest notice● Neutral
CIMAREX ENERGY CO director Joseph R Albi disposed of 137,528 shares via option/appreciation-right settlement.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
2 July 2020director interest notice● Neutral
CIMAREX ENERGY CO director Joseph R Albi received 6,960 shares as part of the equity award.
4 June 2020debt financing● Neutral
On June 3, 2020, Cimarex amended its February 2019 $1.25 billion revolving credit agreement (still expiring February 5, 2024). The amendment allows up to $3.5 billion of non-cash impairment charges to be added back to shareholders' equity for covenant calculations, adds restrictions on holding cash above $175 million, cuts the priority lien debt basket from 15% of consolidated net tangible assets to a $50 million cap, and adds an EU bail-in clause. The filing does not say why the amendment was made; that the impairment add-back eases covenant calculations is an inference.
2 June 2020director interest notice● Neutral
CIMAREX ENERGY CO insider Lisa A Stewart received 7,291 shares as part of the equity award.
2 June 2020director interest notice● Neutral
CIMAREX ENERGY CO insider Harold R Logan Jr. received 7,291 shares as part of the equity award.
2 June 2020director interest notice● Neutral
CIMAREX ENERGY CO insider Hans Helmerich received 7,291 shares as part of the equity award.
2 June 2020director interest notice● Neutral
CIMAREX ENERGY CO insider Paul Eckley received 7,291 shares as part of the equity award.
2 June 2020director interest notice● Neutral
CIMAREX ENERGY CO insider Floyd R Price received 7,291 shares as part of the equity award.
2 June 2020director interest notice● Neutral
CIMAREX ENERGY CO insider Kathleen A Hogenson received 7,291 shares as part of the equity award.
2 June 2020director interest notice● Neutral
CIMAREX ENERGY CO insider Monroe W Robertson received 7,291 shares as part of the equity award.
2 June 2020director interest notice● Neutral
CIMAREX ENERGY CO insider Frances M Vallejo received 7,291 shares as part of the equity award.
28 May 2020director interest notice● Neutral
CIMAREX ENERGY CO Sr VP-General Counsel Francis Brian Barron gifted 40 shares.
14 May 2020director interest notice● Neutral
Blake A Sirgo became a CIMAREX ENERGY CO VP-Operations and company insider (initial ownership filing).
14 May 2020director interest notice● Neutral
Thomas F Mccoy became a CIMAREX ENERGY CO SVP-Production and company insider (initial ownership filing).
11 May 2020quarterly activities report▼ Bad
CIMAREX ENERGY CO reported quarterly revenue of $472.8 million and a net loss of $774.3 million for the period ended 2020-03-31.
6 May 2020quarterly activities report▼ Bad
CIMAREX ENERGY CO reported quarterly revenue of $472.8 million and a net loss of $774.3 million for the period ended 2020-03-31.
12 Feb 2020substantial holder notice● Neutral
The Vanguard Group reported a CIMAREX ENERGY CO shareholding of 11,044,726 shares (10.84% of votes) in a periodic institutional filing.
5 Feb 2020substantial holder notice● Neutral
BlackRock, Inc reported a CIMAREX ENERGY CO shareholding of 6,157,730 shares (6.00% of votes) in a periodic institutional filing.
5 Nov 2019quarterly activities report● Neutral
CIMAREX ENERGY CO reported quarterly revenue of $582.3 million and net income of $123.8 million for the period ended 2019-09-30.
4 Nov 2019quarterly activities report● Neutral
CIMAREX ENERGY CO reported quarterly revenue of $582.3 million and net income of $123.8 million for the period ended 2019-09-30.
5 Aug 2019quarterly activities report● Neutral
CIMAREX ENERGY CO reported quarterly revenue of $546.5 million and net income of $109.3 million for the period ended 2019-06-30.
5 Aug 2019quarterly activities report● Neutral
CIMAREX ENERGY CO reported quarterly revenue of $546.5 million and net income of $109.3 million for the period ended 2019-06-30.
10 May 2019quarterly activities report● Neutral
CIMAREX ENERGY CO reported quarterly revenue of $577.0 million and net income of $26.3 million for the period ended 2019-03-31.
8 May 2019quarterly activities report● Neutral
CIMAREX ENERGY CO reported quarterly revenue of $577.0 million and net income of $26.3 million for the period ended 2019-03-31.
8 Mar 2019debt financing● NeutralMajor
Cimarex sold $500 million of 4.375% senior unsecured notes due March 15, 2029, closing March 8, 2019, at 99.862% of par (yield 4.392%). Net proceeds of about $494.6 million are to repay revolver borrowings; the press release says about $525 million was drawn, all used to redeem Resolute's $600 million 8.50% notes after the acquisition. This confirms the Resolute notes were redeemed and refinances part of that cost with longer-dated fixed-rate debt.
7 Mar 2019securities registration● Neutral
CIMAREX ENERGY CO filed a prospectus supplement for an offering off its existing shelf.
6 Mar 2019securities registration● Neutral
CIMAREX ENERGY CO filed a free-writing prospectus - marketing material for an offering in progress.
6 Mar 2019securities registration● Neutral
CIMAREX ENERGY CO filed a prospectus supplement for an offering off its existing shelf.
4 Mar 2019securities registration● Neutral
CIMAREX ENERGY CO filed an automatic shelf registration, effective immediately as a well-known seasoned issuer.
1 Mar 2019asset acquisition disposition▲ GoodMajor
Cimarex completed the Resolute acquisition on March 1, 2019, resolving the pending merger thread. It issued about 5.7 million common shares and paid $325.6 million in cash to former Resolute holders, plus 62,500 new 8 1/8% Series A preferred shares exchanged one for one for Resolute's preferred. About $615 million of cash on hand covered the cash consideration, fees and repayment of Resolute's credit facility. Cimarex also deposited funds to redeem Resolute's $600 million 8.50% notes on April 1, 2019, using cash and its revolver. It had $525 million drawn on the revolver, leaving $722.5 million available. Management guided to about 28,000 BOE/d from the Resolute assets in March, and said it is committed to cash flow neutrality in 2019, including the dividend, at a $52.50 oil price.