Coterra Continues to Spin Gold Profits from Straw Low Gas Price

Going back at least 10 years, MDN has referred to the way Coterra Energy (then Cabot Oil & Gas) was seemingly able to spin golden profits from the straw of low gas prices in the northeastern PA Marcellus (see Cabot Spins Gold from Hay with Low Cost Drilling). Coterra was formed in 2021 when Cabot merged with oil driller Cimarex Energy (see Cimarex Takes Over Cabot, Merged Co. Called “Coterra Energy”). Cimarex's CEO, Tom Jorden, became the new CEO of Coterra. Commenting on the sidelines of an event hosted by Harold Hamm, Jorden recently said that the Marcellus operation has a very low cost of supply and can make money even in the abysmally low gas prices seen in the northeastern PA Marcellus.

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