10-K - Coterra Energy Inc. (0000858470) (Filer)

Tue, Feb 25, 10:31 PM (63 days ago)

COTERRA ENERGY INC (NYSE: CTRA) 10-K for FY2024 reports net income of $1.1B versus $1.6B in FY2023, with basic EPS of $1.51. Oil production rose to 39.8 MMBbl (from 35.1) and NGL volumes increased, though natural gas revenue declined due to weaker prices and lower output. Operating expenses increased, with depreciation, depletion and amortization up by $199M, while capex for drilling and fixed assets dropped to $1.8B from $2.1B. The filing details strategic acquisitions in January 2025 (FME and Avant, totaling ~$4B), supported by enhanced liquidity—approximately $2B cash and expanded credit facilities—and new senior notes issuances. Key risk factors include commodity price volatility, environmental and regulatory uncertainties, and challenges in reserve estimates. Looking ahead, Coterra plans a 2025 capex program of $2.1–$2.4B and expects to turn in 175–205 net wells, underscoring its focus on disciplined, sustainable operations in a challenging market environment.