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Cimarex Reports Second Quarter 2014 Results

Production of 839 MMcfe per day; Up 22% Year-over-Year

DENVER, Aug. 5, 2014 /PRNewswire/ -- Cimarex Energy Co. (NYSE: XEC) today reported second quarter 2014 net income of $148.6 million, or $1.70 per diluted share.   This compares to 2013 second quarter net income of $129.6 million, or $1.49 per diluted share.  Adjusted 2014 second quarter net income was $1.71 per diluted share(1)

Production volumes averaged 839 million cubic feet equivalent (MMcfe) per day in the quarter, a 22 percent increase over second quarter 2013 output of 687 MMcfe per day.  Oil production grew 13 percent over the same period last year to 41,759 barrels per day. Permian oil volumes were 33,317 barrels per day.  Natural gas production increased 20 percent over last year to 410 MMcf per day.  Cimarex reported NGL volumes of 29,680 barrels per day up 43 percent from 2013 levels as a result of more Permian Basin gas being fully processed.  Second quarter 2014 production volumes were 49 percent natural gas, 30 percent oil and 21 percent NGL. 

Growth in production and higher product prices resulted in revenues of $622.9 million in the second quarter of 2014 compared to $483.3 million in the same period of 2013.  Second quarter 2014 adjusted cash flow from operations was $443.1 million versus $346.3 million a year ago(1).      

Natural gas prices averaged $4.62 per thousand cubic feet (Mcf) in the quarter, up 13 percent year-over-year.  Oil prices averaged $93.39 per barrel, up three percent from a year ago and NGL prices averaged $35.35 per barrel.

Long-term debt at June 30, 2014, consisted of $1.5 billion of senior notes.  Cimarex had no borrowings under its senior unsecured revolving credit facility and had a cash balance of $129 million.  Debt to total capitalization at June 30 was 26 percent(2)

2014 Outlook

Cimarex estimates 2014 production to average 860-875 MMcfe per day, a mid-point increase of 25 percent over 2013.  Oil volumes are projected to grow 22-25 percent year-over-year.  Third quarter 2014 volumes are projected to average 920-945 MMcfe per day. 

Capital investment in exploration and development is now expected to be $1.95 billion due to slightly higher activity levels in the Mid-Continent.

Expenses per Mcfe of production for 2014 are estimated to be:



Production expense

$1.12 -  $1.17


Transportation, processing and other expense

  0.65  -  0.68


DD&A and ARO accretion

  2.60  -  2.70


General and administrative expense

  0.25  -  0.28


Taxes other than income (% of oil and gas revenue)

   5.5  -  5.9%

Cimarex invested $498 million on exploration and development during the second quarter, bringing the total invested year-to-date to $964 million.   The Permian Basin accounted for 71 percent of the capital investment in the first half of 2014 with the Mid-Continent representing the remainder.  The company also purchased assets in the Cana-Woodford area for $238 million during the quarter.

Cimarex drilled a total of 85 gross (51 net) wells during the quarter. At quarter-end, 46 gross (25 net) wells were awaiting completion.

 

WELLS DRILLED AND COMPLETED BY REGION

















For the Three Months Ended



For the Six Months Ended




June 30,



June 30,




2014



2013



2014



2013


Gross wells













Permian Basin


47



55



81



90


Mid-Continent


37



35



76



87


Other


1



2



2



2




85



92



159



179


Net wells













Permian Basin


30



32



51



59


Mid-Continent


21



15



35



35


Other


-



1



1



1




51



48



87



95


% Gross wells completed as producers


99%



97%



99%



98%

Permian Basin Update

Production from the Permian Basin averaged 393.3 MMcfe per day in the second quarter, an increase of 23 percent over second quarter 2013 and a 13 percent increase sequentially.  Quarterly oil volumes increased 11 percent year-over-year to 33,317 barrels per day and accounted for 51 percent of the region's total production for the quarter.

Cimarex drilled and completed 47 gross (30 net) Permian Basin wells during the second quarter, bringing the total for 2014 to 81 gross wells (51 net).  At June 30, 22 gross (18 net) wells were awaiting completion. 

Year-to-date, 32 gross (15 net) New Mexico Bone Spring wells have been drilled and completed.  Per well first 30-day average gross production from the Cimarex-operated wells averaged approximately 905 barrels of oil equivalent (BOE) per day (79 percent oil).  Year-to-date Ward County, Texas, Third Bone Spring drilling totaled seven gross (five net) wells with per well first 30-day average gross production rates of approximately 1,034 BOE per day (75 percent oil) from Cimarex-operated wells.  Culberson County Bone Spring wells total nine gross (five net) year-to-date with per well first 30-day average gross production rates of approximately 1,170 BOE per day (60 percent oil).

In the Wolfcamp play, Cimarex continues to drill horizontal wells in multiple benches throughout its acreage in Culberson, Reeves and Ward Counties.   In the second quarter, the company drilled and completed 26 gross (21 net) Wolfcamp wells including four long laterals to the Wolfcamp D in Culberson County.  Of note, Cimarex has completed and is now producing from three of the four downspacing pilots begun in 2014. 

Mid-Continent Update

Mid-Continent production averaged 425.5 MMcfe per day for the second quarter of 2014, a 24 percent increase over the second quarter 2013 average of 343.2 MMcfe per day.  The Cana-Woodford area represented 309.7 MMcfe per day, or 73 percent of Mid-Continent production in the second quarter.  Year-to-date Cimarex has drilled and completed 76 gross (35 net) wells in the region, 60 gross (31 net) of which were in the Cana-Woodford shale play.  At June 30, 24 gross (7.5 net) wells were awaiting completion.   

Cimarex's average daily production by commodity and region is summarized below:




For the Three Months Ended


For the Six Months Ended




June 30,


June 30,




2014


2013


2014


2013

Gas (MMcf per day)









Permian Basin


123.6


96.3


113.1


89.6

Mid-Continent


276.6


231.5


260.3


233.8

Other



9.9


13.5


9.4


13.7




410.1


341.3


382.8


337.1











Oil (Bbls per day)









Permian Basin


33,317


30,137


32,475


27,997

Mid-Continent


7,259


5,745


6,662


6,017

Other



1,183


996


1,334


1,012




41,759


36,878


40,471


35,026

NGL (Bbls per day)









Permian Basin


11,633


7,079


10,386


6,661

Mid-Continent


17,543


12,881


16,376


13,658

Other



504


745


605


812




29,680


20,705


27,367


21,131

Total Equivalent (MMcfe per day)







Permian Basin


393.3


319.6


370.3


297.5

Mid-Continent


425.5


343.2


398.5


351.9

Other



19.9


24.0


21.1


24.6




838.7


686.8


789.9


674.0











Other

The following table summarizes the company's current open hedge positions:

Oil Contracts


















Weighted Ave. Price


Period


Type


Bbl/day


Index(3)


Floor


Ceiling


July 14  – Dec. 14


Collar


12,000


WTI


$

85.00


$

103.47

















 

Gas Contracts


















Weighted Ave. Price


Period


Type


MMBTU/day


Index(3)


Floor


Ceiling


July 14  – Dec. 14


Collar


80,000


PEPL


$

3.51


$

4.57


July 14  – Dec. 14


Collar


60,000


PermEP


$

3.62


$

4.50































 

Cimarex accounts for commodity contracts using the mark-to-market (through income) accounting method.  Cash settlements on oil and natural gas collars resulted in payments of $1.0 million and $5.8 million related to the second quarter and year-to-date, respectively.

Conference Call and Webcast

Cimarex will host a conference call tomorrow, August 6, at 11:00 a.m. Mountain Time (1:00 p.m. Eastern Time). The call will be webcast and accessible on the Cimarex website at www.cimarex.com. To participate in the live, interactive call, please dial 877-870-4263 five minutes before the scheduled start time (international callers dial 412-317-0790).  A replay will be available for one week following the call by dialing 877-344-7529 (international callers dial 412-317-0088); conference I.D. 10047717.  The replay will also be available on the company's website or via the Cimarex App. 

Investor Presentation

For more details, please refer to the company's updated investor presentation available on the Cimarex website at www.cimarex.com.

About Cimarex Energy Co.

Denver-based Cimarex Energy Co. is an independent oil and gas exploration and production company with principal operating in the Mid-Continent and Permian Basin areas of the U.S.

Forward-Looking Statements

This press release contains forward-looking statements, including statements regarding projected results and future events. In particular, the company is providing revised "2014 Outlook", which contains projections for certain 2014 operational and financial metrics. These forward-looking statements are based on management's judgment as of the date of this press release and include certain risks and uncertainties. Please refer to the company's Annual Report on Form 10-K for the year ended December 31, 2013, filed with the SEC, and other filings including our Current Reports on Form 8-K and Quarterly Reports on Form 10-Q, for a list of certain risk factors that may affect these forward-looking statements.
Actual results may differ materially from company projections and other forward-looking statements and can be affected by a variety of factors outside the control of the company including, among other things: oil, NGL and natural gas price volatility; the ability to complete property sales or other transactions; the ability to receive drilling and other permits and rights-of-way in a timely manner; development drilling and testing results; the potential for production decline rates to be greater than expected; performance of acquired properties and newly drilled wells; costs and availability of third party facilities for gathering, processing, refining and transportation; regulatory approvals, including regulatory restrictions on federal lands; legislative or regulatory changes, including initiatives related to hydraulic fracturing; higher than expected costs and expenses, including the availability and cost of services and materials; unexpected future capital expenditures; economic and competitive conditions; the ability to obtain industry partners to jointly explore certain prospects, and the willingness and ability of those partners to meet capital obligations when requested; declines in the values of our oil and gas properties resulting in impairments; changes in estimates of proved reserves; compliance with environmental and other regulations; derivative and hedging activities; risks associated with operating in concentrated geographic areas; the success of the company's risk management activities; title to properties; litigation; environmental liabilities; and other factors discussed in the company's reports filed with the SEC. Cimarex Energy Co. encourages readers to consider the risks and uncertainties associated with projections and other forward-looking statements. In addition, the company assumes no obligation to publicly revise or update any forward-looking statements based on future events or circumstances.

 

(1)

Adjusted net income and adjusted cash flow from operations are non-GAAP financial measures.  See the tables below for a reconciliation of the related amounts.

(2)

Reconciliation of debt to total capitalization, which is a non-GAAP measure, is:  long-term debt of $1,500 million divided by long-term debt of $1,500 million plus stockholders' equity of $4,287 million.

(3)

WTI refers to West Texas Intermediate oil price as quoted on the New York Mercantile Exchange. PEPL refers to Panhandle Eastern Pipe Line Tex/OK Mid-Continent index and PermEp is El Paso Permian Basin index both as quoted in Platt's Inside FERC.

 


RECONCILIATION OF ADJUSTED NET INCOME

















For the Three Months Ended



For the Six Months Ended




June 30,



June 30,




2014



2013



2014



2013




(in thousands, net of tax, except per share data)














Net income

$

148,640


$

129,565


$

287,097


$

219,492


Mark-to-market (gain) loss on open derivative positions


904



(7,926)



7,790



(6,463)

Adjusted net income

$

149,544


$

121,639


$

294,887


$

213,029

Diluted earnings per share *

$

1.70


$

1.49


$

3.29


$

2.53

Adjusted diluted earnings per share *

$

1.71


$

1.40


$

3.38


$

2.46

Diluted shares attributable to common stockholders and participating securities


87,188



86,624



87,178



86,613

Estimated tax rates utilized


37.1%



37.2%



37.1%



37.2%














Adjusted net income and adjusted diluted earnings per share excludes the noted item because management believes this item affects the comparability of operating results. The company discloses these non-GAAP financial measures as a useful adjunct to GAAP earnings because:


a) Management uses adjusted net income to evaluate the company's operational trends and performance relative to other oil and gas exploration and production companies.















b) Adjusted net income is more comparable to earnings estimates provided by research analysts.














* Earnings per share are based on actual figures rather than the rounded figures presented.


RECONCILIATION OF ADJUSTED CASH FLOW FROM OPERATIONS

















For the Three Months Ended



For the Six Months Ended




June 30,



June 30,




2014



2013



2014



2013




(in thousands)

Net cash provided by operating activities

$

421,745


$

322,708


$

769,769


$

569,786


Change in operating assets and liabilities


21,367



23,601



82,235



68,944

Adjusted cash flow from operations

$

443,112


$

346,309


$

852,004


$

638,730














Management believes that the non-GAAP measure of adjusted cash flow from operations is useful information for investors because it is used internally and is accepted by the investment community as a means of measuring the company's ability to fund its capital program, without fluctuations caused by changes in current assets and liabilities, which are included in the GAAP measure of cash flow from operating activities.  It is also used by professional research analysts in providing investment recommendations pertaining to companies in the oil and gas exploration and production industry.

    

 

PRICE AND PRODUCTION DATA

















For the Three Months Ended



For the Six Months Ended




June 30,



June 30,




2014



2013



2014



2013














Gas:













 Total production (MMcf) 


37,318



31,054



69,291



61,006


 Daily production (MMcf) 


410



341



383



337


 Price (per Mcf) 

$

4.62


$

4.08


$

4.94


$

3.73














Oil:














 Total production (Bbls) 


3,800,098



3,355,922



7,325,227



6,339,760


 Daily production (Bbls) 


41,759



36,878



40,471



35,026


 Price (per Bbl) 

$

93.39


$

90.72


$

92.82


$

88.65














 NGLs: 













 Total production (Bbls) 


2,700,915



1,884,189



4,953,394



3,824,763


 Daily production (Bbls) 


29,680



20,705



27,367



21,131


 Price (per Bbl) 

$

35.35


$

27.76


$

37.43


$

28.55

 

OIL AND GAS CAPITALIZED EXPENDITURES

















For the Three Months Ended



For the Six Months Ended




June 30,



June 30,




2014



2013



2014



2013




(in thousands)


Acquisitions:













Proved

$

144,516


$

923


$

144,516


$

923


Unproved


114,732



3,415



114,732



3,665




259,248



4,338



259,248



4,588















Exploration and development:













Land and Seismic


43,869



36,719



109,194



68,029


Exploration and development


453,714



353,594



855,175



730,891




497,583



390,313



964,369



798,920















Sale proceeds:













Proved


(464)



(37,061)



(223)



(37,879)


Unproved


(900)



(960)



(900)



(1,041)




(1,364)



(38,021)



(1,123)



(38,920)
















$

755,467


$

356,630


$

1,222,494


$

764,588














 

CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (unaudited)



























For the Three Months Ended



For the Six Months Ended









June 30,



June 30,









2014



2013



2014



2013


























(in thousands, except per share data)



















Revenues:















Gas sales



$

172,503


$

126,547


$

342,600


$

227,668


Oil sales




354,882



304,466



679,953



561,998


NGL sales




95,470



52,309



185,427



109,184


Gas gathering and other, net


13,814



10,435



27,905



21,263









636,669



493,757



1,235,885



920,113

Costs and expenses:













Depreciation, depletion, amortization and accretion


198,639



150,115



375,788



288,952


Production



86,085



69,433



161,226



138,819


Transportation, processing, and other operating


46,478



22,022



90,726



40,656


Gas gathering and other


10,041



5,184



18,825



11,340


Taxes other than income


32,323



27,807



65,944



52,935


General and administrative


16,571



22,836



37,283



38,413


Stock compensation


3,548



3,507



7,272



7,112


(Gain) loss on derivative instruments, net


2,454



(13,660)



18,189



(12,057)


Other operating, net


112



2,365



215



5,297









396,251



289,609



775,468



571,467



















Operating income


240,418



204,148



460,417



348,646



















Other (income) and expense:













Interest expense 


15,729



13,097



28,773



25,283


Amortization of deferred financing costs


995



1,015



1,993



2,035


Capitalized interest


(8,575)



(7,387)



(15,865)



(16,582)


Other, net




(4,129)



(8,758)



(11,084)



(11,374)



















Income before income tax


236,398



206,181



456,600



349,284

Income tax expense


87,758



76,616



169,503



129,792



















Net income



$

148,640


$

129,565


$

287,097


$

219,492



















Earnings per share to common stockholders:































Basic 




$

1.71


$

1.50


$

3.30


$

2.54


Diluted




$

1.70


$

1.49


$

3.29


$

2.53



















Dividends per share

$

0.16


$

0.14


$

0.32


$

0.28



















Shares attributable to common stockholders:













Unrestricted common shares outstanding


85,532



84,942



85,532



84,942


Diluted common shares


85,689



85,054



85,679



85,043



















Shares attributable to common stockholders and participating securities:













Basic shares outstanding


87,031



86,512



87,031



86,512


Fully diluted shares 


87,188



86,624



87,178



86,613



















Comprehensive income:













Net income


$

148,640


$

129,565


$

287,097


$

219,492


Other comprehensive income:














Change in fair value of investments, net of tax 


(56)



19



(16)



99


Total comprehensive income

$

148,584


$

129,584


$

287,081


$

219,591



















 


CONDENSED CONSOLIDATED CASH FLOW STATEMENTS (unaudited)





















For the Three Months Ended



For the Six Months Ended



June 30,



June 30,



2014



2013



2014



2013



(in thousands)

Cash flows from operating activities:













Net income



 

$

148,640


 

$

129,565


 

$

287,097


$

219,492


Adjustment to reconcile net income to net cash 

provided by operating activities:















Depreciation, depletion, amortization and accretion


198,639



150,115



375,788



288,952




Deferred income taxes


87,758



76,616



169,503



129,792




Stock compensation


3,548



3,507



7,272



7,112




(Gain) loss on derivative instruments


2,454



(13,660)



18,189



(12,057)




Settlements on derivative instruments


(1,017)



1,039



(5,804)



1,765




Changes in non-current assets and liabilities


1,771



2,416



(2,436)



5,790




Amortization of deferred financing costs
















and other, net


1,319



(3,289)



2,395



(2,116)


Changes in operating assets and liabilities:















Receivables, net


(46,173)



(24,484)



(81,702)



(55,060)




Other current assets


(2,410)



5,697



(19,182)



14,840




Accounts payable and accrued liabilities


27,216



(4,814)



18,649



 

(28,724)






Net cash provided by operating activities


421,745



322,708



769,769



 

569,786

Cash flows from investing activities:













Oil and gas expenditures


(718,740)



(385,469)



(1,138,539)



(776,138)


Sales of oil and gas assets


1,364



13,508



1,123



14,407


Sales of other assets


147



31,081



251



31,157


Other expenditures


(31,547)



(5,952)



(51,401)



(25,475)






Net cash used by investing activities


(748,776)



(346,832)



(1,188,566)



 

(756,049)

Cash flows from financing activities:













Net bank debt borrowings


(275,000)



22,000



(174,000)



142,000


Proceeds from other long-term debt


750,000





750,000




Financing costs incurred


(11,218)





(11,218)




Dividends paid




(13,879)



(12,092)



(26,022)



(22,448)


Issuance of common stock and other


1,153



216



4,061



1,705






Net cash provided by financing activities


451,056



10,124



542,821



 

121,257

Net change in cash and cash equivalents


124,025



(14,000)



124,024



(65,006)

Cash and cash equivalents at beginning of period


4,530



18,532



4,531



 

69,538

Cash and cash equivalents at end of period

$

128,555


$

4,532


$

128,555


 

$

 

4,532




















 

 

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited)








June 30,


December 31,


2014


2013

Assets


(in thousands, except share data)

Current assets:








Cash and cash equivalents

$

128,555


$

4,531


Receivables, net


449,456



367,754


Oil and gas well equipment and supplies


85,278



66,772


Deferred income taxes


13,725



16,854


Derivative instruments




4,268


Other current assets


9,338



8,960



Total current assets


686,352



469,139

Oil and gas properties at cost, using the full cost method of accounting:







Proved properties


13,801,249



12,863,961


Unproved properties and properties under development,








not being amortized


886,361



585,361









14,687,610



13,449,322


Less – accumulated depreciation, depletion and amortization


(7,838,007)



(7,483,685)



Net oil and gas properties


6,849,603



5,965,637

Fixed assets, net


182,521



146,918

Goodwill





620,232



620,232

Other assets, net


60,299



51,209








$

8,399,007


$

7,253,135

Liabilities and Stockholders' Equity






Current liabilities:







Accounts payable

$

126,259


$

116,110


Accrued liabilities


468,952



412,495


Derivative instruments


8,506



389


Revenue payable


197,473



154,173



Total current liabilities


801,190



683,167

Long-term debt



1,500,000



924,000

Deferred income taxes


1,626,206



1,459,841

Other liabilities 



184,980



163,919



Total liabilities


4,112,376



3,230,927

Commitments and contingencies






Stockholders' equity:







Preferred stock, $0.01 par value, 15,000,000 shares








authorized, no shares issued





Common stock, $0.01 par value, 200,000,000 shares authorized,








87,021,935 and 87,152,197 shares issued, respectively


870



872


Paid-in capital


1,975,159



1,970,113


Retained earnings


2,309,429



2,050,034


Accumulated other comprehensive income


1,173



1,189









4,286,631



4,022,208








$

8,399,007


$

7,253,135

 

 

 

SOURCE Cimarex Energy Co.

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"This week we're really focusing on scalability, asset preservation and how do you back up to the cloud and in the cloud with object storage, which is really a new way of attacking dealing with your file, your blocked data, where you put it and how you access it," stated Jeff Greenwald, Senior Director of Market Development at HGST, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Businesses and business units of all sizes can benefit from cloud computing, but many don't want the cost, performance and security concerns of public cloud nor the complexity of building their own private clouds. Today, some cloud vendors are using artificial intelligence (AI) to simplify cloud deployment and management. In his session at 20th Cloud Expo, Ajay Gulati, Co-founder and CEO of ZeroStack, discussed how AI can simplify cloud operations. He covered the following topics: why cloud mana...
Docker containers have brought great opportunities to shorten the deployment process through continuous integration and the delivery of applications and microservices. This applies equally to enterprise data centers as well as the cloud. In his session at 20th Cloud Expo, Jari Kolehmainen, founder and CTO of Kontena, discussed solutions and benefits of a deeply integrated deployment pipeline using technologies such as container management platforms, Docker containers, and the drone.io Cl tool. H...
Everything run by electricity will eventually be connected to the Internet. Get ahead of the Internet of Things revolution. In his session at @ThingsExpo, Akvelon expert and IoT industry leader Sergey Grebnov provided an educational dive into the world of managing your home, workplace and all the devices they contain with the power of machine-based AI and intelligent Bot services for a completely streamlined experience.
Kubernetes is a new and revolutionary open-sourced system for managing containers across multiple hosts in a cluster. Ansible is a simple IT automation tool for just about any requirement for reproducible environments. In his session at @DevOpsSummit at 18th Cloud Expo, Patrick Galbraith, a principal engineer at HPE, discussed how to build a fully functional Kubernetes cluster on a number of virtual machines or bare-metal hosts. Also included will be a brief demonstration of running a Galera MyS...
It is of utmost importance for the future success of WebRTC to ensure that interoperability is operational between web browsers and any WebRTC-compliant client. To be guaranteed as operational and effective, interoperability must be tested extensively by establishing WebRTC data and media connections between different web browsers running on different devices and operating systems. In his session at WebRTC Summit at @ThingsExpo, Dr. Alex Gouaillard, CEO and Founder of CoSMo Software, presented ...
Enterprises are universally struggling to understand where the new tools and methodologies of DevOps fit into their organizations, and are universally making the same mistakes. These mistakes are not unavoidable, and in fact, avoiding them gifts an organization with sustained competitive advantage, just like it did for Japanese Manufacturing Post WWII.
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In his session at @DevOpsSummit at 20th Cloud Expo, Kelly Looney, director of DevOps consulting for Skytap, showed how an incremental approach to introducing containers into complex, distributed applications results in modernization with less risk and more reward. He also shared the story of how Skytap used Docker to get out of the business of managing infrastructure, and into the business of delivering innovation and business value. Attendees learned how up-front planning allows for a clean sep...
Amazon started as an online bookseller 20 years ago. Since then, it has evolved into a technology juggernaut that has disrupted multiple markets and industries and touches many aspects of our lives. It is a relentless technology and business model innovator driving disruption throughout numerous ecosystems. Amazon’s AWS revenues alone are approaching $16B a year making it one of the largest IT companies in the world. With dominant offerings in Cloud, IoT, eCommerce, Big Data, AI, Digital Assista...
"Our strategy is to focus on the hyperscale providers - AWS, Azure, and Google. Over the last year we saw that a lot of developers need to learn how to do their job in the cloud and we see this DevOps movement that we are catering to with our content," stated Alessandro Fasan, Head of Global Sales at Cloud Academy, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.