HighGravityDataCoterra Energy — Aug 1, 2024 release
Fiscal 2024 second-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0000858470-24-000102
Showing in the filing
Quarterly base dividend
“$0.21 per share”
Period
No period stated
Measure
Declared action
Source
Prose
All guidance in this release · 41
Quarterly base dividend
“$0.21 per share”
Annual Free Cash Flow returned to shareholders for FY2024
“50% or greater”
Shareholder return commitment
“50% or greater of annual Free Cash Flow (non-GAAP)”
Annual dividend for FY2024
“$0.84 per share annual dividend”
Incurred capital expenditures (non-GAAP) for FY2024
“$1.75 to $1.95 billion”
Oil production for FY2024
“105.5 to 108.5 MBopd”
Natural gas production for FY2024
“2,675 to 2,775 MMcfpd”
BOE production for FY2024
“645 to 675”
Total equivalent production for Q3 FY2024
“620 to 650 MBoepd”
Oil production for Q3 FY2024
“107.0 to 111.0 MBopd”
Natural gas production for Q3 FY2024
“2,500 to 2,630 MMcfpd”
Incurred capital expenditures for FY2024
“$450 to $530 million”
Incurred capital expenditures (non-GAAP) for Q3 FY2024
“$450 to $530 million”
Discretionary Cash Flow (non-GAAP) for FY2024
“approximately $3.2 billion”
Henry Hub commodity price assumption ($ per … for FY2024
“$2.37”
Total Equivalent Production (MBoed) for FY2024
“645 - 660 - 675”
Gas (Mmcf/day) for FY2024
“2,675 - 2,725 - 2,775”
Oil (MBbl/day) for FY2024
“105.5 - 107.0 - 108.5”
Net wells turned in line - Marcellus Shale for FY2024
“37 - 40 - 43”
Net wells turned in line - Permian Basin for FY2024
“80 - 85 - 90”
Net wells turned in line - Anadarko Basin for FY2024
“21 - 24 - 27”
Incurred capital expenditures - Total Company for FY2024
“$1,750 - $1,850 - $1,950”
Drilling and completion - Marcellus Shale for FY2024
“$375 midpoint”
Drilling and completion - Permian Basin for FY2024
“$1,000 midpoint”
Drilling and completion - Anadarko Basin for FY2024
“$290 midpoint”
Midstream, saltwater disposal and infrastruc… for FY2024
“$185 midpoint”
WTI commodity price assumption ($ per bbl) for FY2024
“$80”
Incurred Capital Expenditures ($ in billions) for FY2024
“$1.75 - $1.85 - $1.95”
Free Cash Flow (DCF - cash capex) for FY2024
“$1.3”
Lease operating expense + workovers + region… 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 Q3 FY2024
“620 - 635 - 650”
Gas (Mmcf/day) for Q3 FY2024
“2,500 - 2,565 - 2,630”
Oil (MBbl/day) for Q3 FY2024
“107.0 - 109.0 - 111.0”
Net wells turned in line - Marcellus Shale for Q3 FY2024
“0 - 4 - 7”
Net wells turned in line - Permian Basin for Q3 FY2024
“15 - 20 - 25”
Net wells turned in line - Anadarko Basin for Q3 FY2024
“5”
Incurred capital expenditures - Total Company for Q3 FY2024
“$450 - $480 - $530”
Exhibit 99.1 · the passage around this item
… earlier in the release
and Full-Year 2024 Updates HOUSTON, August 1, 2024 - Coterra Energy Inc. (NYSE: CTRA) (“Coterra” or the “Company”) today reported second-quarter 2024 financial and operating results and declared a quarterly dividend of $0.21 per share. Additionally, the Company provided third-quarter production and capital guidance and updated full-year 2024 guidance. Key Takeaways & Updates • For the second quarter of 2024, total barrels of oil equivalent (BOE) production, natural gas production, and oil production all beat the high-end of guidance, and incurred capital expenditures (non-GAAP) came in near the low-end of guidance. • Increasing full-year 2024 BOE production guidance by 1% and oil production guidance by 2.4% from guidance provided in May, driven by faster cycle times and strong well performance. Maintaining full-year 2024 incurred capital expenditure (non-GAAP) guidance. • For the second quarter of 2024, shareholder returns totaled 120% of Free Cash Flow (non-GAAP), inclusive of our declared quarterly base dividend and $140 million of share repurchases during the quarter (cash basis, excluding 1% excise tax). The Company remains committed to returning 50% or greater of its annual Free Cash Flow (non-GAAP) to shareholders and has returned 103% year to date. • Simul-frac efficiencies are exceeding expectations on our Windham Row Development. To date, 21 of the planned wells in the row have come online an average o
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.