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Coterra

From Wikipedia, the free encyclopedia
Coterra Energy Inc.
Company typePublic
IndustryPetroleum industry
Predecessors
Founded1989; 37 years ago (1989)
HeadquartersHouston, Texas, U.S.
Key people
Thomas E. Jorden (chairman, president & CEO)
Products
RevenueIncrease US$7.65 billion (2025)
Increase US$2.45 billion (2025)
Increase US$1.72 billion (2025)
Total assetsIncrease US$24.2 billion (2025)
Total equityIncrease US$14.8 billion (2025)
Number of employees
1,075 (2025)
Websitecoterra.com
Footnotes / references
[1]

Coterra Energy Inc. is an American energy company engaged in hydrocarbon exploration. The company has operations in the Permian Basin, Marcellus Shale, and the Anadarko Basin.[1] The company is being acquired by Devon Energy.

As of 31 December 2024, the company had 2,271 million barrels of oil equivalent (1.389×1010 GJ) of estimated proved reserves, of which 85% was natural gas, 7% was petroleum, and 8% was natural gas liquids.[2]

History

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The company was formed as Cabot Oil & Gas Corporation, a subsidiary of Cabot Corporation. It became a public company via an initial public offering in February 1990. In March 1991, the company became 100% publicly owned.[3]

In 1994, the company acquired Washington Energy Resources for $180 million in stock.[4]

In May 1995, the company ousted John Lollar, its chairman and CEO, in part due to the ill-timing of the acquisition of Washington Energy Resources.[5]

In 1997, the company sold oil reserves and land in northwest Pennsylvania for $92.5 million.[6]

In 2001, the company acquired Cody Energy for $230 million.[7]

In 2013, the company sold its assets in the Marmaton play of Oklahoma and West Texas for $160 million.[8]

In March 2018, the company sold its assets in the Eagle Ford Group to KKR and Venado Oil & Gas for $765 million.[9]

In October 2021, the company acquired Cimarex Energy and was renamed Coterra Energy.[10]

In January 2025, the company acquired Franklin Mountain Energy and Avant Natural Resources for a combined $3.9 billion.[11]

In February 2026, the company agreed to be acquired by Devon Energy.[12]

Environmental issues

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In September 2009, the company was cited for violations in regard to spills of toxic hydraulic fracturing fluids in Northeastern Pennsylvania.[13]

In January 2012, the company was cited for improper well construction that had resulted in polluted drinking water.[14]

In November 2022, the company pleaded no contest for contaminating well water in Dimock, Pennsylvania, and paid $16.29 million to construct a new means of water supply.[15]

In July 2025, the company was fined $299,000 for contaminating 13 wells in Lenox Township, Susquehanna County, Pennsylvania.[16]

References

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  1. ^ a b "Coterra Energy Inc. 2025 Form 10-K Annual Report". U.S. Securities and Exchange Commission. February 27, 2026.
  2. ^ "Coterra Energy Inc. 2024 Form 10-K Annual Report". U.S. Securities and Exchange Commission. February 25, 2025.
  3. ^ "FORM 11-K". U.S. Securities and Exchange Commission.
  4. ^ "Cabot Oil Adding Washington State Energy Unit". The New York Times. February 26, 1994.
  5. ^ "Cabot Oil and Gas Ousts its Top Officer". The New York Times. May 20, 1995.
  6. ^ "CABOT OIL TO SELL RESERVES TO LOMAK FOR $92.5 MILLION". The New York Times. Dow Jones & Company. September 9, 1997.
  7. ^ PIEPUL, ROBERT (June 21, 2001). "Cabot Oil & Gas to acquire Cody for $230 million". Oil & Gas Journal.
  8. ^ "Cabot Oil & Gas Corporation Provides Operations Update, Announces Share Repurchases and Sale of Conventional Mid-Continent Properties" (Press release). PR Newswire. December 9, 2013.
  9. ^ Chapa, Sergio (March 19, 2018). "Oil company-investment firm partnership closes on $765M Eagle Ford deal". American City Business Journals.
  10. ^ "Cabot Oil & Gas and Cimarex Energy Complete Combination, Forming Coterra Energy" (Press release). PR Newswire. October 1, 2021.
  11. ^ Onsat, Jov (January 28, 2025). "Coterra Completes $3.9 Billion Permian Acquisitions". Rigzone.
  12. ^ Menon, Pooja; Saha, Sumit (February 2, 2026). "Devon, Coterra will merge to create $58 billion US shale giant". Reuters.
  13. ^ "Cited for chemical spills, Cabot Oil reports another". The Scranton Times-Tribune. September 23, 2009.
  14. ^ "Cabot slapped with violation". Upstream. January 9, 2012.
  15. ^ Verma, Swati (November 30, 2022). Perrett, Bradley (ed.). "Coterra Energy to pay $16.29 mln for Pennsylvania water contamination plea". Reuters.
  16. ^ "Coterra to pay a $299000 fine for contaminating 13 wells in Lenox Twp". Wyoming County Examiner. August 1, 2025.
[edit]
  • Official website
  • Business data for Coterra Energy Inc.:
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