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Coterra Energy details Q4 2025 realized prices

Coterra Energy Inc. provided an update on its realized commodity prices and hedge impact for the quarter ended December 31, 2025.

Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

Coterra Energy Inc. provided an update on its realized commodity prices and hedge impact for the quarter ended December 31, 2025. Average sales prices excluding hedges were $58.16 per barrel for oil, $2.37 per Mcf for natural gas and $15.63 per barrel for NGLs. Including the effect of hedges, average prices were $60.34 per barrel for oil, $2.44 per Mcf for natural gas and $15.63 per barrel for NGLs.

For the fourth quarter of 2025, Coterra anticipates recognizing $57 million of net cash received on settlements of derivative instruments, reflecting the contribution of its hedging program to cash flows. The company noted that these realized prices and hedge impacts remain subject to completion of financial closing procedures and final adjustments.

Positive

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Insights

Coterra quantifies Q4 2025 price realizations and hedge cash gains.

Coterra Energy outlines how both market prices and hedges shaped its fourth-quarter 2025 revenue profile. Realized prices excluding hedges were $58.16 per barrel for oil, $2.37 per Mcf for natural gas and $15.63 per barrel for NGLs, while hedges lifted oil to $60.34 per barrel and gas to $2.44 per Mcf. This shows derivatives had a measurable effect on commodity price realizations.

The company also expects $57 million of net cash received from derivative settlements for the quarter, indicating that hedge positions were in-the-money during this period. The actual impact on earnings and cash flow will depend on final closing procedures and any subsequent adjustments, which Coterra explicitly notes. Overall, this is a routine operational update rather than a thesis-changing event.

Item 2.02 Results of Operations and Financial Condition Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.

FAQ

What commodity prices did Coterra Energy Inc. (CTRA) realize in Q4 2025?
For the quarter ended December 31, 2025, Coterra realized average sales prices excluding hedges of $58.16 per barrel for oil, $2.37 per Mcf for natural gas and $15.63 per barrel for NGLs.

How did hedging affect Coterra Energy Inc. (CTRA) prices in Q4 2025?
Including hedges, Coterra’s average prices for Q4 2025 were $60.34 per barrel for oil, $2.44 per Mcf for natural gas and $15.63 per barrel for NGLs, showing hedges modestly improved oil and gas realizations.

How much net cash did Coterra Energy Inc. (CTRA) expect from Q4 2025 derivative settlements?
For the fourth quarter of 2025, Coterra anticipates recognizing $57 million in net cash received on settlements of derivative instruments.

Are Coterra Energy Inc. (CTRA) Q4 2025 realized prices final?
Coterra states that Q4 2025 realized prices and hedge impacts are subject to completion of financial closing procedures, final adjustments and other developments.

Does this Coterra Energy Inc. (CTRA) update include full Q4 2025 earnings?
No, the update focuses on realized prices and derivative activity for Q4 2025 rather than providing complete quarterly financial results.

What forward-looking statements does Coterra Energy Inc. (CTRA) highlight here?
Coterra notes that statements about the anticipated effects of derivatives on fourth-quarter 2025 results are forward-looking and subject to risks outlined in its Form 10-K risk factors.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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0000858470falseHoustonTexas00008584702026-01-212026-01-21

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): January 21, 2026
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 classTrading Symbol(s)Name of each exchange on which registered
Common Stock, par value $0.10 per shareCTRANew 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 December 31, 2025 regarding its realized prices and derivative activity.
Realized Prices
AVERAGE SALES PRICE (excluding hedges)
Oil ($/Bbl)$58.16 
Natural gas ($/Mcf)$2.37 
NGL ($/Bbl)$15.63 
AVERAGE SALES PRICE (including hedges)
Oil ($/Bbl)$60.34 
Natural gas ($/Mcf)$2.44 
NGL ($/Bbl)$15.63 
Derivative Activity
For the fourth quarter of 2025, Coterra anticipates recognizing net cash received on settlements of derivative instruments of $57 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 fourth 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: January 21, 2026

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Source: View Original Filing on SEC EDGAR