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Cimarex Energy Co. Message Board

  • lifeisveryfunny101 lifeisveryfunny101 Feb 15, 2006 1:24 PM Flag

    Very impressive conference call

    If you have not had a chance to listen to the conference call... I strongly encourage you all to do so.

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    • Very impressive indeed.

      I especially liked their explanation (towards the end of questions) of what their drilling expenditure spending target really means: simply the sum of what they expect their minimum return plays to require looking about a year out; but each well is re-evaluated right up to spud time, and they are willing to abort it if costs and/or prices then pull it below their minimum return rate. They also said that cash-flow is not a limit, that they are willing to borrow if the returns are there.

      A very steady, fairly low risk (assuming their geology and execution are good) approach.

    • The low key Managment continues to under promise and over deliver, which is the right way to run a public company unlike the fast buck artists.

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