Coterra Expands Curtailments in Marcellus, Drilling & Fracking Stop

Coterra Energy, formed by the merger of Cabot Oil & Gas (drills for natural gas in the Marcellus) and Cimarex Energy (drills for oil in the Permian and Anadarko basins), issued its third quarter 2024 update last week. The company turned in respectable financial numbers, making a profit of $252 million in 3Q24, down 22% from the $323 million it made in 3Q23. Unfortunately, there was bad news for the Marcellus. The company is boosting the amount of gas it curtails from the Marcellus to 340,000 MMcf/d gross (288,000 MMcf/d net) during November. Both new drilling and new completions (fracking) in the Marcellus are zero for now. Sadly, the company is operating NO rigs in Marcellus right now.

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