Cimarex to spend $900M-$1.1B in 2015, sees 3%-8% production growth

• Cimarex Energy (XEC) says it plans $900M-$1.1B in capital spending for 2015.
• At the low end of capital guidance, XEC projects production growth of 3%-8%, with total production expected to average 895M-935M cfe/day; including recent Permian shut-ins relating to weather and pipeline maintenance, XEC forecasts Q1 output of 920M-940M cfe/day.
• XEC says it currently operating 16 rigs (all drilling horizontal wells), down from 22 rigs at Dec. 31, and plans to reduce its operated rig count to six during Q2.
• Also: Cimarex Energy beats by $0.05, misses on revenue