Coterra Buys More Permian Acreage, Automates Fracking with AI

We have two stories about Coterra Energy to share. Coterra was formed in 2021 by the merger of the Marcellus-focused Cabot Oil & Gas and the Permian/Anadarko-focused Cimarex Energy. Unfortunately (for the M-U), the merged company has chosen to concentrate new drilling outside of the northeast Pennsylvania Marcellus until the price of natgas improves (see Coterra Expands Curtailments in Marcellus, Drilling & Fracking Stop). Last November, the company announced it would buy “certain assets of Franklin Mountain Energy and Avant Natural Resources” located in the Permian (see Siren Song: Coterra Energy Buys Permian Assets for $4 Billion). Now comes word via an SEC filing that Coterra is spending $43 million to buy another 1,670 net royalty acres from Franklin Mountain Energy in the Permian.

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