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
Unit Operating Cost ($/boe)
“$7.45 - $8.50 - $9.55”
Period
FY2024
Measure
Company-defined measure
Source
Guidance table
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 - $530”
Exhibit 99.1 · the passage around this item
… earlier in the release
Full Year Guidance 2024 Guidance (May) Updated 2024 Guidance Low Mid High Low Mid High Total Equivalent Production (MBoed) 635 - 655 - 675 645 - 660 - 675 Gas (Mmcf/day) 2,650 - 2,725 - 2,800 2,675 - 2,725 - 2,775 Oil (MBbl/day) 102.0 - 104.5 - 107.0 105.5 - 107.0 - 108.5 Net wells turned in line Marcellus Shale 37 - 40 - 43 No change Permian Basin 75 - 83 - 90 80 - 85 - 90 Anadarko Basin 20 - 23 - 25 21 - 24 - 27 Incurred capital expenditures ($ in millions) Total Company $1,750 - $1,850 - $1,950 No change Drilling and completion Marcellus Shale $350- $375 -$400 $375 midpoint Permian Basin $945 - $1,000 - $1,055 $1,000 midpoint Anadarko Basin $270 - $290 - $320 $290 midpoint Midstream, saltwater disposal and infrastructure $185 - $185 - $185 $185 midpoint Commodity price assumptions: WTI ($ per bbl) $79 $80 Henry Hub ($ per mmbtu) $2.35 $2.37 Cash Flow & Investment ($ in billions) Discretionary Cash Flow $3.1 $3.2 Incurred Capital Expenditures $1.75 - $1.85 - $1.95 No change 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 No change Gathering, processing, & transportation $3.50 - $4.00 - $4.50 No change Taxes other than income $1.00 - $1.10 - $1.20 No change General & administrative (1) $0.80 - $0.90 - $1.00 No change Unit Operating Cost $7.45 - $8.50 - $9.55 No change _______________________________________________________________________________ (1) Excludes stock-based compensation and severance expense 17 Quarterly Guidance Second Quarter 2024 Guidance Second Quarter 2024 Actual Third Quarter 2024 Guidance Low Mid High Low Mid High Total Equivalent Production (MBoed) 625 - 640 - 655 669 620 - 635 - 650 Gas (Mmcf/day) 2,600 - 2,650 - 2,700 2,780 2,500 - 2,565 - 2,630 Oil (MBbl/day) 103.0 - 105.0 - 107.0 107.2 107.0 - 109.0 - 111.0 Net wells turned in line Marcellus Shale 0 - 0 - 0 12 0 - 4 - 7 Permian Basin 15 - 23 - 30 23 15 - 20 - 25 Anadarko Basin 7-10-13 15 5 Incurred capital expenditures ($ in millions) Total Company $470 - $510 - $550 $477 $450 - $480 - $530 18 Investor Contact Daniel Guffey - Vice President of Finance, IR & Treasury 281.589.4875 Hannah Stuckey - Investor Relations Manager 281.589.4983 19
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.