Coterra Energy 4Q: Marcellus Assets are “Tremendous”

Coterra Energy, the result of Permian oil driller Cimarex Energy buying out and merging with Marcellus driller Cabot Oil & Gas, issued its first fully combined quarterly update yesterday. The two companies merged at the beginning of fourth quarter 2021 (see Cimarex Takes Over Cabot, Merged Co. Called “Coterra Energy”). We have a lot to pick through in the update in order to unearth the bits concerning the Marcellus. We can tell you upfront that Coterra CEO Tom Jorden (formerly CEO of Cimarex) said of the merged company's Marcellus assets during a conference call with analysts: "These assets are tremendous." He also said the company's Marcellus portfolio competes in every way (financially) with its Permian assets. However, Coterra still plans to spend more on the Permian than it does on the Marcellus. Bummer.

---

To view this content, log into your member account. (Not a member? Join Today!)