Coterra Lifts 2025 Natural Gas Production Outlook, Inks Permian Power Deal

Executives at Coterra Energy Inc. said they were raising the firm’s 2025 natural gas production guidance by 5%, citing strong performance across assets in the Marcellus Shale, as well as the Anadarko and Permian basins.

“We live in an environment of perpetual commodity uncertainty,” CEO Tom Jorden said during a second quarter conference call. “Last quarter, during the uncertainty around the impact of terrorists, the Iranian enrichment response, the broader Middle East conflicts, and the potential impact of these and other forces on the world economic outlook, we discussed a plan to lay down activity. As we have seen this macro situation stabilized, we have decided to keep nine rigs deployed in the Permian, two rigs in the Marcellus, and one to two rigs in the Anadarko.”

Natural gas production in the second quarter averaged almost 3 Bcf/d, well exceeding the high end of guidance of 2.7-2.8 Bcf/d and up from 2.78 Bcf/d in the same quarter last year. Third quarter output should be in the 2.75-2.9 Bcf/d range, management said.