# Coterra **Source:** https://geo.sig.ai/brands/coterra **Vertical:** Energy & Utilities **Subcategory:** Enterprise **Tier:** Leader **Website:** coterra.com **Last Updated:** 2026-04-14 ## Summary Houston multi-basin E&P (NYSE: CTRA) at $5.458B 2024 revenue; Permian + Marcellus Shale + Anadarko, 9% 2025 production growth guidance, 5% dividend increase competing with Devon and ConocoPhillips. ## Company Overview Coterra Energy Inc. is a Houston, Texas-based oil and natural gas exploration and production company — publicly traded on the New York Stock Exchange (NYSE: CTRA) as an S&P 500 Energy component — operating a diversified portfolio of oil and natural gas assets in three productive basins: the Permian Basin (Delaware Basin, West Texas and New Mexico, oil and gas), Anadarko Basin (Mid-Continent Oklahoma, natural gas and oil), and Appalachian Basin (Marcellus Shale, Pennsylvania and West Virginia, dry and wet natural gas), through approximately 1,500 employees. In fiscal year 2024, Coterra reported total revenue of $5.458 billion with Q4 production exceeding guidance by 3%+ across all metrics. The company announced a 5% dividend increase to $0.22 per share quarterly (annualized $0.88, approximately 3.1% yield) and provided 2025 guidance projecting 9% production volume growth with capital expenditures of $2.1-2.4 billion. CEO Tom Jorden leads Coterra, which was formed in October 2021 from the all-stock merger of Cabot Oil & Gas (Appalachian natural gas focused) and Cimarex Energy (Permian and Anadarko focused), creating a uniquely diversified E&P company with material positions in both dry gas (Appalachia) and oil/gas liquids (Permian, Anadarko). The three-basin diversification provides commodity diversification that pure Permian oil producers lack — Coterra benefits from natural gas price strength (LNG exports, data center power demand) through its Marcellus Shale gas production while also participating in Permian oil production growth. Coterra's multi-basin E&P model creates strategic flexibility through commodity and geographic diversification that single-basin operators cannot achieve: when crude oil prices weaken relative to natural gas (as they did in 2022-2023 when European energy crisis drove Henry Hub gas prices above $8/MMBtu), Coterra's Appalachian Marcellus gas production delivers outperformance relative to pure Permian oil producers — while when oil strengthens relative to gas (as it did in 2024-2025 when Henry Hub prices fell below $2/MMBtu due to mild weather and LNG export constraints), Coterra's Permian and Anadarko oil production provides resilience. The Permian Delaware Basin's low breakeven costs (similar to Permian Midland Basin economics) enable Coterra to maintain positive cash generation through commodity cycles that higher-cost producers cannot survive profitably. The multi-year capital program ($2.1-2.4B in 2025 capex) is calibrated to generate free cash flow above breakeven oil prices while funding 9% production volume growth. In 2025, Coterra Energy competes in multi-basin oil and natural gas E&P against ConocoPhillips (NYSE: COP, $15.8B revenue, diversified global E&P), Pioneer Natural Resources (now ExxonMobil, Permian Basin), and Devon Energy (NYSE: DVN, Permian, Anadarko, Williston) for Permian Basin drilling inventory, Appalachian gas marketing contracts (LNG export pipeline capacity), and E&P investor capital allocation. The 2025 9% production growth guidance supported by $2.1-2.4B capex is focused on Permian Basin development drilling (high-return oil wells in the Delaware Basin) supplemented by Marcellus Shale gas development timing calibrated to natural gas pricing. The Marcellus Shale position (one of the lowest-cost dry gas basins in the US) provides optionality for accelerated development as LNG export capacity on the US Gulf Coast expands from 14 bcf/day to 25+ bcf/day through 2028, expected to tighten domestic natural gas supply and support higher Henry Hub prices. The 2025 strategy focuses on Permian oil production growth within the capital budget, Marcellus gas production optimization, and maintaining the progressive dividend program with the 5% increase demonstrating commitment to investor returns. ## Frequently Asked Questions ### What does Coterra Energy do? Coterra Energy is an independent oil and natural gas company focused on the development, production, and exploration of unconventional onshore resources in the United States. The company operates primarily in three major U.S. energy basins: the Marcellus Shale in Pennsylvania, the Permian Basin in Texas and New Mexico, and the Anadarko Basin in Oklahoma, producing natural gas, natural gas liquids (NGLs), and crude oil. ### When was Coterra Energy founded? Coterra Energy was formed on October 1, 2021, through a $17 billion merger of equals between Cabot Oil & Gas Corporation (founded in 1989) and Cimarex Energy Co. (founded in 2002). The merger combined two established energy companies to create a premier, diversified independent energy producer with operations across multiple U.S. basins. ### Where is Coterra Energy headquartered? Coterra Energy is headquartered in Houston, Texas, with significant operations centers in Pittsburgh, Pennsylvania, and Denver, Colorado. This multi-location structure preserves the expertise and talent from both legacy companies—Cabot Oil & Gas (Pittsburgh) and Cimarex Energy (Denver). ### What makes Coterra Energy different from other oil and gas companies? Coterra's key differentiator is its diversified portfolio combining premier natural gas assets with leading oil assets, providing tremendous flexibility to optimize production based on market conditions. With operations across three geographically dispersed core areas (Marcellus, Permian, and Anadarko), Coterra can shift between crude oil, dry natural gas, or natural gas liquids production, enabling the company to weather industry cycles more effectively than single-basin operators. ### What is Coterra Energy's production capacity? As of 2024, Coterra had estimated proved reserves of 2,271 million barrels of oil equivalent (85% natural gas, 7% petroleum, 8% natural gas liquids). The company's Marcellus operations produced 350 MBoe per day (52% of total), Permian operations contributed 39% of total production, and Anadarko operations added 9%. Total natural gas production in 2024 averaged 2,099 MMcf per day in the Marcellus alone. ### What was Coterra Energy's revenue in 2024? Coterra Energy generated total revenue of $5.458 billion in 2024, a 7.71% decline from 2023's revenue of $5.914 billion. The company maintained a strong balance sheet with a net debt to trailing twelve-month EBITDAX ratio of 0.4x and return on equity of 11.2%. ### Who are Coterra Energy's main competitors? Coterra's main competitors include other independent oil and gas producers operating in the Marcellus, Permian, and Anadarko basins, such as EQT Corporation (Marcellus natural gas), ConocoPhillips and Diamondback Energy (Permian oil and gas), and Devon Energy (multi-basin operations). The company competes on operational efficiency, cost structure, and the flexibility of its diversified asset base. ### What are Coterra Energy's recent major acquisitions? In November 2024, Coterra announced the acquisition of Franklin Mountain Energy and Avant Natural Resources for $3.95 billion ($2.95 billion cash and $1.0 billion in Coterra common stock). The transaction closed in January 2025, adding approximately 49,000 highly contiguous net acres in the northern Delaware Basin in Lea County, New Mexico, and creating an 83,000-acre focus area with 400-550 net drilling locations. ### What is Coterra Energy's approach to sustainability and environmental stewardship? Coterra achieved a 52% reduction in Scope 1 greenhouse gas emission intensity from 2019 to 2023 and has integrated climate metrics into executive compensation. The company is committed to reducing environmental impact through operational efficiency, technology adoption, and responsible resource development. In 2023, three climate metrics were included in Coterra's executive short-term incentive targets, demonstrating the company's commitment to ESG goals. ### How can I invest in Coterra Energy stock? Coterra Energy trades on the New York Stock Exchange under the ticker symbol 'CTRA'. The stock can be purchased through any brokerage account. As of late 2024, Coterra had a market capitalization of approximately $18-22 billion and pays a quarterly dividend (increased to $0.22 per share in February 2025, representing an annualized dividend of $0.88 per share with a 3.1% yield). ### Who leads Coterra Energy? Thomas E. Jorden serves as Chairman, Chief Executive Officer, and President of Coterra Energy. He was appointed CEO when the company was formed in October 2021 and became Chairman in November 2022. The executive leadership team includes Shane E. Young III (EVP and CFO), Stephen P. Bell (EVP for Business Development), Blake A. Sirgo (EVP – Business Units), and Andrea M. Alexander (SVP & Chief Human Resources Officer). ### What is Coterra Energy's outlook for 2025? Coterra expects total BOE production to increase approximately 9% in FY 2025, with capital expenditures projected at $2.1-2.4 billion. The company plans to invest $400-500 million in the recently acquired Franklin Mountain and Avant assets, targeting 40,000-50,000 BOPD oil production and 60,000-70,000 BOED total equivalent production from these new assets. The company also plans to retire $1.0 billion in term loans during 2025 to strengthen its balance sheet. ## Tags b2b, energy, public --- *Data from geo.sig.ai Brand Intelligence Database. Updated 2026-04-14.*