Coterra Energy, formed last October when Cabot Oil & Gas merged with Cimarex Energy, issued its second quarter update yesterday. The company made $1.2 billion in profit last quarter, versus making just $30 million a year ago. Natural gas production in the Marcellus stayed pretty much even at 2.22 Bcf/d. The company generated over $1 billion in free cash flowing during 2Q–one of the highest, if not the highest, we’ve seen. Coterra uses its free cash flow to issue dividends, buy back shares, and retire debt sooner.
Coterra Energy, formed last October when Cabot Oil & Gas merged with Cimarex Energy, issued its second quarter update yesterday. The company made $1.2 billion in profit last quarter, versus making just $30 million a year ago. Natural gas production in the Marcellus stayed pretty much even at 2.22 Bcf/d. The company generated over $1 billion in free cash flowing during 2Q–one of the highest, if not the highest, we’ve seen. Coterra uses its free cash flow to issue dividends, buy back shares, and retire debt sooner.