Coterra Energy delivered a confident message about its Oklahoma program during the company’s Q3 2025 earnings call, highlighting steady activity, strong well results, and a disciplined approach heading into 2026. While much of the industry conversation is focused on Permian and Marcellus expansion, Coterra made it clear that the Anadarko Basin remains a reliable contributor to its balanced, multi-basin portfolio.
The centerpiece of the update was the performance of the company’s latest wells in Oklahoma. Coterra brought online five 3-mile Hufnagel wells during the third quarter, and when combined with the Roberts project completed in Q2, the Anadarko asset base is outperforming internal expectations. These projects continue to validate Coterra’s technical approach, longer laterals, and disciplined development cadence in the basin.
(“…the five 3-mile Hufnagel wells… combined with the Roberts project… continue to drive strong region performance that has exceeded our expectations.”) Coterra Energy Inc
Operationally, Coterra is running a lean but consistent program, with one drilling rig and one frac crew active in Oklahoma. This steady-state development model gives the company flexibility while still driving meaningful production from the basin. Coterra noted that this activity level will remain unchanged through year-end, positioning the asset to continue delivering predictable results.
(“…1 rig and 1 crew in the Anadarko. We expect to maintain this activity level during the fourth quarter.”) Coterra Energy Inc
Looking ahead, the company emphasized that the Anadarko program will stay largely stable in 2026. While Coterra is fine-tuning its broader capital plan, leadership signaled no dramatic shifts for Oklahoma, underscoring the basin’s role as a steady performer within the portfolio.
(“We don’t see a lot of dramatic changes… in the way we see the program into ’26.”) Coterra Energy Inc
For an industry that has seen heavy consolidation and evolving capital allocation strategies, Coterra’s message is clear: Oklahoma remains a dependable contributor, supported by strong well results, consistent development, and a focus on maximizing full-cycle returns. The Anadarko Basin may not generate the same headlines as the Permian or the Marcellus, but for Coterra, it continues to do exactly what a high-quality, mature basin should—deliver stable, repeatable performance year after year.
