Coterra’s operations in the Permian Basin leverage their highly contiguous acreage position to implement sizable and highly efficient projects known as row developments.
Coterra Energy (NYSE: CTRA) has reported strong fourth-quarter and full-year 2024 results, highlighting its commitment to capital efficiency, cost optimization, and operational improvements. As the company moves into 2025, its strategy remains centered on maximizing production while minimizing costs, reinforcing its reputation as a disciplined operator in the oil and gas sector.
The oil and gas industry is witnessing a significant leap in hydraulic fracturing technology, and Coterra Energy is at the forefront of this transformation. In collaboration with Halliburton Energy Services, Coterra has introduced the Octiv Auto Frac service—an autonomous fracturing technology designed to streamline completion operations and enhance efficiency.
In a groundbreaking development for the oil and gas industry, Coterra Energy Inc. has become the first operator in North America to implement Halliburton’s cutting-edge Octiv® Auto Frac service. This innovative technology brings automation to hydraulic fracturing, fundamentally transforming how stages are executed during well completions. The collaboration marks a significant milestone in advancing operational efficiency in hydraulic fracturing.
Coterra Energy Inc. (NYSE: CTRA), a leading independent oil and gas company, has announced its strategic expansion in the Permian Basin through two definitive agreements to acquire key assets from Franklin Mountain Energy and Avant Natural Resources.
In its recent third-quarter 2024 earnings report, Coterra Energy (NYSE: CTRA) shared insightful updates about its operations in the Permian Basin, underscoring a commitment to efficiency, cost reduction, and innovative approaches like Simul-Frac. These initiatives are not only boosting production but also positioning Coterra as a leader in operational innovation. Let’s delve into how Coterra is harnessing these strategies to drive value and maintain a strong outlook for the future.
The Windham Row Development, as detailed in Coterra’s earnings presentation, represents a significant advancement in the company’s strategic approach to optimizing oil and gas production. This 54-well project, spanning six drilling spacing units (DSUs), leverages simultaneous operations (Simul-Ops) and simul-fracking to enhance efficiency, reduce costs, and accelerate production timelines.
otal equivalent production for the quarter was 686 MBoepd (thousand barrels of oil equivalent per day), which was near the high end of the guidance range (660 to 690 MBoepd).
Coterra announced on Friday during its fourth quarter and full-year 2023 update that in 2024, the company will slash spending on new drilling in the Marcellus by 55% (dropping $460 million) and that production will drop by an estimated 6% in the Marcellus.
Coterra is currently running seven rigs and two completion crews in the Permian Basin, one rig in the Anadarko Basin, and two rigs and one completion crew in the Marcellus. We recently added a seventh rig in the Permian Basin, a few months ahead of schedule.
