Cimarex Energy Co. has entered into an agreement to sell certain non-core long-lived oil and gas properties in Texas. The properties are to be sold for USD$294 million.
The sale is anticipated to close before the end of 2012. The agreement is subject to satisfactory completion of customary due diligence.
The properties current production is approximately 2,550 barrels equivalent per day (74% oil) and proved reserves of 9.4 million barrels equivalent.