US' Cimarex prepares to sell Gulf of Mexico properties

摘要

New York-Denver-based MidContinent upstream independent Cimarex Energy said November 8 it expects to open a data room next week to market all its operated Gulf of Mexico properties, acquired in last year's takeover of Magnum Hunter Resources. CFO Paul Korus, interviewed after a New York analyst meeting, said the 46 leases with 10 platforms, 10,000 Mcfe/d of production and 17 Bcfe of reserves ought to fetch upwards of 50 million. "We're just too small" to be an operator in the Gulf, Korus said, noting Cimarex would retain its non-operated stakes in 232 other Gulf blocks with a net 1 million acres but will cease bidding for new leases at federal auctions.