Cimarex Energy Co. (NYSE: XEC) reported first quarter 2017 net income of $131.0 million, or $1.38 per share. Adjusted first quarter net income (non-GAAP) was $99.7 million, or $1.05 per share, compared to first quarter 2016 adjusted net loss (non-GAAP) of $25.9 million, or $0.28 per share(1). Net cash provided by operating activities was $249.5 million in the first quarter of 2017 compared to $85.4 million in the first quarter of 2016. Adjusted cash flow from operations (non-GAAP) was $265.8 million in the first quarter of 2017 compared to $81.6 million in the first quarter a year ago(1).
Total company production came in above the high end of our guidance and averaged 1,063 million cubic feet equivalent (MMcfe) per day during the first quarter. This was a nine percent increase over first quarter 2016 and a 11 percent increase sequentially. Oil production averaged 52,181 barrels per day, a 15 percent increase sequentially.
Click here to read the full press release.