August 5, 2025 — Coterra Energy (NYSE: CTRA) delivered a robust second quarter marked by strong operational execution, efficient capital deployment, and increased shareholder returns. The company continues to capitalize on its diversified asset base across the Permian, Marcellus, and Anadarko basins while positioning for capital-efficient growth into 2026.
Oil & Gas Account Directory West Texas – $10
Includes: Account Name, Wells Drilled, Rig Count, Location, Website….
📊 Q2 2025 Financial & Operating Highlights
- Net Income (GAAP): $511 million or $0.67/share
- Adjusted Net Income (non-GAAP): $367 million or $0.48/share
- Free Cash Flow (non-GAAP): $329 million
- Discretionary Cash Flow (non-GAAP): $949 million
- Capex (non-GAAP): $569 million, below guidance range of $575–$650 million
- Total Production: 783.9 MBoepd
- Oil: 155.4 MBopd
- Gas: 2,998.6 MMcfpd
- NGLs: 128.7 MBopd
- Realized Prices:
- Oil: $62.80/Bbl (ex-hedge), $64.01/Bbl (incl. hedge)
- Gas: $2.20/Mcf (ex-hedge), $2.27/Mcf (incl. hedge)
💵 Shareholder Returns & Capital Plan
- Dividend: $0.22/share (3.6% annualized yield)
- Share Repurchases: $23 million
- Debt Reduction: $100 million in Q2; $350 million YTD
- Total Q2 Shareholder Return: $191 million (~58% of Free Cash Flow)
- Remaining Term Loan: $650 million (from Franklin/Avant acquisitions)
🛠️ 2025 Drilling Program (YTD)
Coterra drilled 154 wells during the first half of 2025 across its three operating regions. Activity levels were highest in Texas and New Mexico, reflecting the company’s Permian Basin focus.
Wells Drilled by Province/State (Jan–Jun 2025)
| Province/State | Wells Drilled |
|---|---|
| Texas | 77 |
| New Mexico | 54 |
| Oklahoma | 15 |
| Pennsylvania | 8 |
Top Drilling Rigs by Wells Drilled (YTD)
| Rig | Wells Drilled |
|---|---|
| H&P 255 | 13 |
| Unit 409 | 12 |
| Unit 405 | 12 |
| Unit 404 | 12 |
| H&P 448 | 12 |
| Cactus 148 | 11 |
| H&P 518 | 11 |
| Cactus 156 | 11 |
| Cactus 163 | 8 |
| Cactus 151 | 8 |
Note: Rig names are derived from the “Contractor_and_Rig” field in public filings.
⚡ Power Marketing & Portfolio Diversification
Coterra announced a 7-year power netback gas sales agreement with the CPV Basin Ranch Energy Center — a 1,350 MW natural gas power plant in Ward County, TX. Set to begin in 2028, this deal will:
- Market 50 MMcf/d of Permian gas tied to ERCOT West pricing
- Include a carbon capture-ready design
- Grant Coterra access to purchase up to 250 MW/day of power
This agreement adds to Coterra’s Marcellus power netback deals (330 MMcf/d) and aligns with its strategy to monetize gas through power, LNG, and data center channels.
🧭 Looking Ahead
Coterra expects to maintain:
- 2025 Capex: ~$2.3 billion
- Free Cash Flow: ~$2.1 billion (at recent strip prices)
- Rig Activity:
- 9 rigs in the Permian
- 2 rigs in the Marcellus
- 1–2 rigs in the Anadarko
With a best-in-class balance sheet and deep inventory of high-return drilling locations, Coterra is positioned for durable performance through commodity cycles.
