Welcome to our dedicated page for Coterra Energy news (Ticker: CTRA), a resource for investors and traders seeking the latest updates and insights on Coterra Energy stock.
Coterra Energy Inc. news covers the company's historical exploration and production business and its completed corporate-status transition. Coterra operated focused oil and natural gas assets in the Permian Basin, Marcellus Shale and Anadarko Basin, with company updates centered on production, capital spending, commodity pricing, hedging, guidance, dividends, share repurchases and debt reduction.
Coverage also includes shareholder voting matters, material agreements, governance commentary and the completion of Coterra's merger into Devon Energy, after which Coterra became a wholly owned subsidiary.
Coterra Energy (NYSE: CTRA) has priced an offering of $1.5 billion in senior unsecured notes, split between $750 million due 2035 at 5.40% interest and $750 million due 2055 at 5.90% interest. The offering is expected to close on December 17, 2024.
The proceeds, along with cash on hand and borrowings, will fund the cash component of Coterra's previously announced acquisitions of Franklin Mountain Energy Holdings and Avant Natural Resources assets. Both note series include special mandatory redemption provisions at 101% of principal plus accrued interest if the respective acquisitions are not completed.
Coterra Energy (NYSE: CTRA) has announced two acquisitions in the Permian Basin worth $3.95 billion, comprising $2.95 billion in cash and $1 billion in Coterra stock. The acquisitions include approximately 49,000 net highly contiguous acres in Lea County, New Mexico, creating a new 83,000-net-acre focus area. The deals are expected to close in Q1 2025 with an October 1, 2024 effective date.
The acquisitions are projected to be >15% accretive to 2025-2027 per share Discretionary Cash Flow and Free Cash Flow. Pro forma 2025 production is expected at 150-170 mbod oil and 720-760 mboed total, with a capital budget of $2,100-2,400 million. The company maintains its commitment to return 50%+ of annual Free Cash Flow to shareholders.
Coterra Energy (NYSE: CTRA) has announced that Blake Sirgo, Senior Vice President of Operations, will participate in a fireside chat at the Bank of America Securities-Global Energy Conference. The event is scheduled for Tuesday, November 12, 2024, at 2:20 PM ET. The presentation will be accessible through a live webcast on the company's website under the 'Events & Presentations' page in the 'Investors' section. The webcast recording will remain available for 180 days following the event.
Coterra Energy (CTRA) reported strong Q3 2024 results, exceeding production guidance across all metrics while keeping capital expenditures below guidance. The company reported net income of $252 million ($0.34 per share) and declared a quarterly dividend of $0.21 per share. Production highlights include 669 MBoepd total output, 112.3 MBopd oil production, and 2,682 MMcfpd natural gas production. Coterra signed three new LNG agreements totaling 200 MMcfpd, starting in 2027-2028. The company lowered its 2024 capital expenditure guidance by $50 million to $1.75-1.85 billion while increasing production guidance across all categories.
Coterra Energy Inc. (NYSE: CTRA) has announced a conference call scheduled for Friday, November 1, 2024, at 8:00 AM CT (9:00 AM ET) to discuss its third-quarter 2024 financial and operating results. The company plans to release these results after the market closes on Thursday, October 31, 2024.
Interested parties can access the call using the following details:
- USA / International Toll: +1 (646) 307-1963
- USA Toll-Free: (800) 715-9871
- Canada - Toronto: (647) 932-3411
- Canada Toll-Free: (800) 715-9871
- Conference ID: 7309925
A live webcast will be available on the 'Events & Presentations' page under the 'Investors' section of Coterra's website. A replay will be archived and accessible at the same location after the event concludes.
Coterra Energy Inc. (NYSE: CTRA) has announced that its Chairman, CEO, and President, Thomas E. Jorden, will participate in a fireside chat at the Barclays Energy-Power Conference. The event is scheduled for Wednesday, September 4, 2024, at 1:15 PM ET.
A live webcast of the presentation will be available on the company's website under the 'Events & Presentations' page in the 'Investors' section. The webcast will remain archived and accessible for 180 days after the live event concludes.
This participation in a major industry conference suggests Coterra's commitment to investor relations and transparency in communicating its strategies and outlook to the financial community.
Texas Pacific Land (NYSE: TPL) has announced the closing of two acquisitions in the Permian Basin for $169 million in cash. The acquisitions include:
1. Mineral interests across 4,106 net royalty acres in Culberson County, Texas, overlapping existing TPL royalty acreage and surface acreage.
2. Surface asset spanning 4,120 acres in Martin County, Texas, generating revenue from water supply, produced water disposal, and other surface-related activities.
The combined asset purchase price implies a >13% 2025 free cash flow yield at current strip prices. TPL expects these high-quality assets to immediately contribute to free cash flow and provide substantial incremental value to their legacy asset base.
Coterra Energy (NYSE: CTRA) reported strong second-quarter 2024 results, exceeding production guidance across all categories. The company increased its full-year 2024 BOE production guidance by 1% and oil production guidance by 2.4%, while maintaining capital expenditure guidance. Coterra returned 120% of Free Cash Flow to shareholders in Q2, including a $0.21 per share quarterly dividend and $140 million in share repurchases. The company's simul-frac efficiencies are exceeding expectations, leading to faster cycle times and improved capital efficiency. Coterra remains committed to returning at least 50% of annual Free Cash Flow to shareholders and has returned 103% year-to-date.
Coterra Energy has scheduled a conference call to discuss its second-quarter 2024 financial and operating results. The call will take place on Friday, August 2, 2024, at 8:00 AM CT (9:00 AM ET). The company will release its second-quarter results after the market closes on Thursday, August 1, 2024. Participants can join the call through various toll-free and international numbers, or via a live webcast available on Coterra's website. The call replay will be archived and accessible on the company's site post-event.
Coterra Energy (NYSE: CTRA) announced that its Chairman, CEO, and President, Thomas E. Jorden, will participate in a fireside chat at the J.P. Morgan Energy, Power and Renewables Conference. The chat is scheduled for 8:00 AM ET on Tuesday, June 18, 2024.
A live webcast of the presentation will be available on the company's website under the 'Events & Presentations' section. The webcast will be archived for 30 days post-event.