Coterra Energy (CTRA) Update - Feb 1

[dan_s]

Coterra's 2025 production guidance is now 740,000 Boepd with 160,000 barrels of crude oil per day. This ACCRETIVE acquisition closed a month earlier than I expected. I am updating my forecast/valuation model for CTRA today.
I list CTRA as the 4th "Gasser" in the Sweet 16, but as a result of this transaction more than 50% of their 2025 revenues will be from oil sales based on my current oil & gas price assumptions.
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Read this and then see the slide presentation on the Coterra website to see how significant this transaction is for the Company.

On January 28th Coterra Energy Inc. (NYSE: CTRA) ("Coterra" or the "Company") completed its previously announced acquisitions consisting of certain assets of Franklin Mountain Energy and Avant Natural Resources and its affiliates for aggregate consideration of approximately $3.9 billion, subject to certain post-closing purchase price adjustments.

Tom Jorden, Chairman, CEO, and President of Coterra, noted, "Through the hard work of Franklin Mountain Energy, Avant Natural Resources, and the Coterra team, we are pleased to have closed the two previously announced acquisitions on schedule. We expect to immediately hit the ground running and, in coordination with our year-end 2024 earnings release in February, we are excited to share our 2025 formal guidance as well as an updated three-year outlook."

These assets strengthen the Company’s portfolio in Lea County, New Mexico adding approximately 49,000 highly contiguous net acres and 400 to 550 net locations, primarily targeting Bone Spring formations, with additional upside potential.

Our previously published slide deck related to the acquisitions is available under the "Events & Presentations" page under the "Investors" section of the Company’s website at www.coterra.com.

About Coterra Energy

Coterra is a premier exploration and production company based in Houston, Texas with focused operations in the Permian Basin, Marcellus Shale and Anadarko Basin. We strive to be a leading energy producer, delivering sustainable returns through the efficient and responsible development of our diversified asset base. Learn more about us at www.coterra.com.