Activist Investor Declares Coterra Merger Failed – Sell Marcellus

In October 2021, one of the Marcellus' premier drillers, Cabot Oil & Gas, merged with/into Cimarex Energy, an oil driller focused on the Permian and Anadarko basins (see Cimarex Takes Over Cabot, Merged Co. Called “Coterra Energy”). From the beginning of this announced merger, our primary concern was that Cabot would lose its unique identity and become nothing more than a cash machine (with little new drilling) to drive Cimarex’s Permian drilling program. Now comes word that a so-called activist investor (i.e., corporate raider) by the name of Kimmeridge has launched a public campaign to force Coterra to split once again, to sell off the Marcellus (and Anadarko) assets, and focus 100% on oil drilling in the Permian. You can't say we didn't warn you.

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