HighGravityDataCoterra Energy — May 2, 2024 release
Fiscal 2024 first-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0000858470-24-000063
Showing in the filing
Drilling and completion - Permian Basin
“$945 - $1,000 - $1,055”
Period
FY2024
Measure
Company-defined measure
Source
Guidance table
All guidance in this release · 42
Quarterly base dividend
“$0.21 per share”
Shareholder return commitment (% of annual F… for FY2024
“50% or greater”
Annual Free Cash Flow returned to shareholders for FY2024
“50% or greater”
Annual dividend for FY2024
“$0.84 per share”
Incurred capital expenditures (non-GAAP) for FY2024
“$1.75 to $1.95 billion”
Oil production for FY2024
“102 to 107 MBopd”
Total equivalent production for Q2 FY2024
“625 to 655 MBoepd”
Oil production for Q2 FY2024
“103 to 107 MBopd”
Natural gas production for Q2 FY2024
“2,600 to 2,700 MMcfpd”
Incurred capital expenditures for FY2024
“$470 to $550 million”
Incurred capital expenditures (non-GAAP) for Q2 FY2024
“$470 to $550 million”
Discretionary Cash Flow (non-GAAP) for FY2024
“approximately $3.1 billion”
Henry Hub ($ per mmbtu) commodity price assu… for FY2024
“$2.35”
Total Equivalent Production (MBoed) for FY2024
“635 - 655 - 675”
Gas (Mmcf/day) for FY2024
“2,650 - 2,725 - 2,800”
Oil (MBbl/day) for FY2024
“102.0 - 104.5 - 107.0”
Net wells turned in line - Marcellus Shale for FY2024
“37 - 40 - 43”
Net wells turned in line - Permian Basin for FY2024
“75 - 83 - 90”
Net wells turned in line - Anadarko Basin for FY2024
“20 - 23 - 25”
Incurred capital expenditures - Total Company for FY2024
“$1,750 - $1,850 - $1,950”
Drilling and completion - Marcellus Shale for FY2024
“$350- $375 -$400”
Drilling and completion - Permian Basin for FY2024
“$945 - $1,000 - $1,055”
Drilling and completion - Anadarko Basin for FY2024
“$270 - $290 - $320”
Midstream, saltwater disposal and infrastruc… for FY2024
“$185 - $185 - $185”
WTI ($ per bbl) commodity price assumption for FY2024
“$79”
Incurred Capital Expenditures ($ in billions) for FY2024
“$1.75 - $1.85 - $1.95”
Free Cash Flow (DCF - cash capex) ($ in bill… for FY2024
“$1.3”
Lease operating expense + workovers + region… for FY2024
“$2.15 - $2.50 - $2.85”
Workovers + region office ($/boe) for FY2024
“$2.15 - $2.50 - $2.85”
Gathering, processing, & transportation ($/b… for FY2024
“$3.50 - $4.00 - $4.50”
Taxes other than income ($/boe) for FY2024
“$1.00 - $1.10 - $1.20”
General & administrative ($/boe) for FY2024
“$0.80 - $0.90 - $1.00”
Unit Operating Cost ($/boe) for FY2024
“$7.45 - $8.50 - $9.55”
Total Equivalent Production (MBoed) for Q2 FY2024
“625 - 640 - 655”
Gas (Mmcf/day) for Q2 FY2024
“2,600 - 2,650 - 2,700”
Oil (MBbl/day) for Q2 FY2024
“103.0 - 105.0 - 107.0”
Net wells turned in line - Marcellus Shale for Q2 FY2024
“0 - 0 - 0”
Net wells turned in line - Permian Basin for Q2 FY2024
“15 - 23 - 30”
Net wells turned in line - Anadarko Basin for Q2 FY2024
“7-10-13”
Incurred capital expenditures - Total Company for Q2 FY2024
“$470 - $510 - $550”
WTI ($ per bbl) commodity price assumption for Q2 FY2024
“$82”
Henry Hub ($ per mmbtu) commodity price assu… for Q2 FY2024
“$1.76”
Exhibit 99.1 · the passage around this item
… earlier in the release
Full Year Guidance 2024 Guidance (February) Updated 2024 Guidance Low Mid High Low Mid High Total Equivalent Production (MBoed) 635 - 655 - 675 Gas (Mmcf/day) 2,650 - 2,725 - 2,800 Oil (MBbl/day) 99.0 - 102.0 - 105.0 102.0 - 104.5 - 107.0 Net wells turned in line Marcellus Shale 37 - 40 - 43 Permian Basin 75 - 83 - 90 Anadarko Basin 20 - 23 - 25 Incurred capital expenditures ($ in millions) Total Company $1,750 - $1,850 - $1,950 Drilling and completion Marcellus Shale $350- $375 -$400 Permian Basin $945 - $1,000 - $1,055 Anadarko Basin $270 - $290 - $320 Midstream, saltwater disposal and infrastructure $185 - $185 - $185 Commodity price assumptions: WTI ($ per bbl) $75 $79 Henry Hub ($ per mmbtu) $2.51 $2.35 Cash Flow & Investment ($ in billions) Discretionary Cash Flow $3.1 $3.1 Incurred Capital Expenditures $1.75 - $1.85 - $1.95 Free Cash Flow (DCF - cash capex) $1.3 $1.3 $ per boe, unless noted: Lease operating expense + workovers + region office $2.15 - $2.50 - $2.85 Gathering, processing, & transportation $3.50 - $4.00 - $4.50 Taxes other than income $1.00 - $1.10 - $1.20 General & administrative (1) $0.80 - $0.90 - $1.00 Unit Operating Cost $7.45 - $8.50 - $9.55 _______________________________________________________________________________ (1) Excludes stock-based compensation and severance expense 17 Quarterly Guidance First Quarter 2024 Guidance First Quarter 2024 Actual Second Quarter 2024 Guidance Low Mid High Low Mid High Total Equivalent Production (MBoed) 660 - 675 - 690 686 625 - 640 - 655 Gas (Mmcf/day) 2,850 - 2,900 - 2,950 2,960 2,600 - 2,650 - 2,700 Oil (MBbl/day) 95.0 - 97.0 - 99.0 102.5 103.0 - 105.0 - 107.0 Net wells turned in line Marcellus Shale 20 - 23 - 26 11 0 - 0 - 0 Pe
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.