Siren Song: Coterra Energy Buys Permian Assets for $4 Billion

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We continue to mourn the loss of Cabot Oil & Gas (100% focused on the Marcellus in northeastern PA) following its merger with Cimarex Energy (an oil driller focused on the Permian and Anadarko basins) in 2021 (see Cimarex Takes Over Cabot, Merged Co. Called “Coterra Energy”). The time and focus and creative thinking and MONEY that could have gone into more (or better) Marcellus drilling now goes to other plays. Case in point: Yesterday Coterra Energy, the new name of the merged Cabot and Cimarex, announced it will buy "certain assets of Franklin Mountain Energy and Avant Natural Resources" located in the Permian for $3.95 billion. That's $3.95 billion that could have bought a Marcellus or Utica driller instead. Bummer.

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