[8-K] Coterra Energy Inc. Reports Material Event

Rhea-AI Filing Summary

Coterra Energy Inc. (CTRA) reported preliminary third‑quarter realized prices and derivative settlements. For the quarter ended September 30, 2025, average sales prices excluding hedges were $64.10 per Bbl for oil, $1.95 per Mcf for natural gas, and $17.02 per Bbl for NGLs. Including hedges, average sales prices were $64.79 per Bbl for oil, $2.05 per Mcf for natural gas, and $17.02 per Bbl for NGLs.

The company anticipates recognizing $36 million in net cash received on settlements of derivative instruments for the third quarter of 2025. These figures are subject to completion of financial closing procedures, final adjustments and other developments that may arise.

Insights

Energy markets analyst

Q3 prices modestly aided by hedges; $36M cash from settlements.

Coterra disclosed Q3 realized pricing with hedges slightly improving oil and gas realizations. Oil averaged $64.10/Bbl excluding hedges versus $64.79/Bbl including hedges, while natural gas averaged $1.95/Mcf excluding hedges versus $2.05/Mcf including hedges. NGLs were $17.02/Bbl with or without hedges.

The company anticipates net cash received of $36 million from derivative settlements for Q3 2025, which adds quarter cash flow from risk management. The data are preliminary and subject to closing adjustments, so actual reported results may differ once the quarter is finalized.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C.  20549 

FORM 8-K 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of

the Securities Exchange Act of 1934 

Date of Report (date of earliest event reported): October 22, 2025

COTERRA ENERGY INC.

(Exact name of registrant as specified in its charter)

Delaware

1-10447

04-3072771

(State or other jurisdiction of incorporation)

(Commission File Number)

(I.R.S. Employer Identification No.)

Three Memorial City Plaza
840 Gessner Road, Suite 1400
Houston, Texas						77024
(Address of principal executive offices)						(Zip Code)

Registrant’s telephone number, including area code:  (281) 589-4600

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class			Trading Symbol(s)			Name of each exchange on which registered
Common Stock, par value $0.10 per share			CTRA			New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition.

Coterra Energy Inc. (“Coterra”, “we” or “our”) presents in this Item 2.02 certain information for the quarter ended September 30, 2025 regarding its realized prices and derivative activity.

Realized Prices

AVERAGE SALES PRICE (excluding hedges)
Oil ($/Bbl)			$	64.10
Natural gas ($/Mcf)			$	1.95
NGL ($/Bbl)			$	17.02
AVERAGE SALES PRICE (including hedges)
Oil ($/Bbl)			$	64.79
Natural gas ($/Mcf)			$	2.05
NGL ($/Bbl)			$	17.02

Derivative Activity

For the third quarter of 2025, Coterra anticipates recognizing net cash received on settlements of derivative instruments of $36 million.

Realized prices and the related impact of hedges are subject to completion of our financial closing procedures, final adjustments and other developments that may arise.

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Item 9.01 Financial Statements and Exhibits.

(d)    Exhibits

104    Cover Page Interactive Data File (embedded within the Inline XBRL document)

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Forward-Looking Statements

This report includes forward-looking statements within the meaning of federal securities laws. All statements, other than statements of historical fact, included in this report are forward-looking statements. Such forward-looking statements include, but are not limited to, statements regarding the anticipated effects of derivatives on Coterra’s results for the third quarter of 2025. The words “estimate,” “anticipate” and similar expressions are also intended to identify forward-looking statements. We can provide no assurance that the forward-looking statements contained in this report will occur as expected, and actual results may differ materially from those included in this report. Forward-looking statements are based on current expectations and assumptions that involve a number of risks and uncertainties that could cause actual results to differ materially from those included in this report. These risks and uncertainties include, without limitation, factors detailed in our other SEC filings. Refer to “Risk Factors” in Item 1A of Part I of our Form 10-K for additional information about these risks and uncertainties. Forward-looking statements are based on the estimates and opinions of management at the time the statements are made. Except to the extent required by applicable law, we undertake no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof.

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SIGNATURE 

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

			COTERRA ENERGY INC.
			By:			/s/ GREGORY F. CONAWAY
						Gregory F. Conaway
						Vice President and Chief Accounting Officer
						(Principal Accounting Officer)

Date: October 22, 2025

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FAQ

What realized prices did Coterra (CTRA) report for Q3 2025?

Average sales prices excluding hedges were $64.10/Bbl oil, $1.95/Mcf gas, and $17.02/Bbl NGLs.

How did hedges affect Coterra’s Q3 2025 realized prices?

Including hedges, oil averaged $64.79/Bbl, natural gas $2.05/Mcf, and NGLs $17.02/Bbl.

What derivative cash settlements did Coterra (CTRA) anticipate for Q3 2025?

Coterra anticipates recognizing $36 million in net cash received on derivative settlements.

Are the Q3 2025 figures final for Coterra (CTRA)?

No. The figures are subject to completion of financial closing procedures, final adjustments and other developments.

What filing disclosed Coterra’s Q3 2025 realized prices?

An 8-K (Item 2.02) disclosed realized prices and anticipated derivative settlements.