cimarex in A Sentence

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    Cimarex Energy Co.

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    Monday's deal adds 35,000 barrels of oil equivalent per day(boe/d) to Cimarex's production base.

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    Shares of Cimarex fell 6 percent to $83, while those of Resolute, which have been down 3 percent so far this year, rose 9 percent to $33.25 before the opening bell.

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    Oil and gas producer Cimarex Energy Co said on Monday it would buy smaller rival Resolute Energy Corp in a deal valued at $1.6 billion, including debt, adding more assets in the shale-rich Permian Basin.

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    As part of the deal, Resolute shareholders have the option to receive 0.3943 shares of Cimarex common stock, $35 per share in cash, or a combination of $14 per share in cash and 0.2366 share of Cimarex common stock.

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