HighGravityDataCoterra Energy — Oct 31, 2024 release
Fiscal 2024 third-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0000858470-24-000118
Showing in the filing
Net wells turned in line - Permian Basin - Fourth Quarter 2024
“13 — 18 — 23”
Period
Q4 FY2024
Measure
Company-defined measure
Source
Guidance table
All guidance in this release · 39
Quarterly base dividend for Q4 FY2024
“$0.21 per share”
LNG natural gas sales for FY2027
“200 MMcfpd”
Shareholder return commitment (% of annual F… for FY2024
“50% or greater”
Windham Row wells expected online by end of … for Q4 FY2024
“10 additional wells”
Net wells turned in line - Marcellus Shale -… for Q4 FY2024
“11”
Annual Free Cash Flow returned to shareholders for FY2024
“50% or greater”
Annual dividend for FY2024
“$0.84 per share”
Capital expenditures for FY2024
“$1.75 to $1.85 billion”
Capital expenditures (non-GAAP) for FY2024
“$1.75 to $1.85 billion”
Oil production for FY2024
“107 to 108 MBopd”
Natural gas production for FY2024
“2,735 to 2,775 MMcfpd”
BOE production for FY2024
“660 to 675 MBoepd”
Total equivalent production for FY2024
“630 to 660 MBoepd”
Total equivalent production for Q4 FY2024
“630 to 660 MBoepd”
Oil production for FY2024
“106 to 110 MBopd”
Oil production for Q4 FY2024
“106 to 110 MBopd”
Natural gas production for FY2024
“2,530 to 2,660 MMcfpd”
Natural gas production for Q4 FY2024
“2,530 to 2,660 MMcfpd”
Capital expenditures (non-GAAP) for Q4 FY2024
“$410 to $500 million”
Discretionary Cash Flow (non-GAAP) for FY2024
“approximately $2.9 billion”
Commodity price assumption - Henry Hub ($ pe… for FY2024
“$2.22”
Total Equivalent Production (MBoed) - Full Y… for FY2024
“660 — 668 — 675”
Gas (Mmcf/day) - Full Year for FY2024
“2,735 — 2,755 — 2,775”
Oil (MBbl/day) - Full Year for FY2024
“107 — 107.5 — 108”
Net wells turned in line - Marcellus Shale -… for FY2024
“40”
Capital expenditures - Total Company - Full … for FY2024
“$1,750 — $1,800 — $1,850”
Drilling and completion - Marcellus Shale for FY2024
“$300 midpoint”
Drilling and completion - Permian Basin for FY2024
“$1,050 midpoint”
Drilling and completion - Anadarko Basin for FY2024
“$300 midpoint”
Midstream, saltwater disposal and infrastruc… for FY2024
“$150 midpoint”
Commodity price assumption - WTI ($ per bbl) for FY2024
“$76”
Capital Expenditures ($ in billions) for FY2024
“$1.75 — $1.80 — $1.85”
Free Cash Flow (DCF - cash capex) ($ in bill… for FY2024
“$1.1”
Total Equivalent Production (MBoed) - Fourth… for Q4 FY2024
“630 — 645 — 660”
Gas (Mmcf/day) - Fourth Quarter 2024 for Q4 FY2024
“2,530 — 2,595 — 2,660”
Oil (MBbl/day) - Fourth Quarter 2024 for Q4 FY2024
“106.0 — 108.0 — 110.0”
Net wells turned in line - Permian Basin - F… for Q4 FY2024
“13 — 18 — 23”
Net wells turned in line - Anadarko Basin - … for Q4 FY2024
“1 — 4 — 7”
Capital expenditures - Total Company - Fourt… for Q4 FY2024
“$410 — $455 — $500”
Exhibit 99.1 · the passage around this item
… earlier in the release
Full Year Guidance 2024 Guidance (August) Updated 2024 Guidance Low Mid High Low Mid High Total Equivalent Production (MBoed) 645 — 660 — 675 660 — 668 — 675 Gas (Mmcf/day) 2,675 — 2,725 — 2,775 2,735 — 2,755 — 2,775 Oil (MBbl/day) 105.5 — 107 — 108.5 107 — 107.5 — 108 Net wells turned in line Marcellus Shale 37 — 40 — 43 40 Permian Basin 80 — 85 — 90 No change Anadarko Basin 21 — 24 — 27 No change Capital expenditures ($ in millions) Total Company $1,750 — $1,850 — $1,950 $1,750 — $1,800 — $1,850 Drilling and completion Marcellus Shale $375 midpoint $300 midpoint Permian Basin $1,000 midpoint $1,050 midpoint Anadarko Basin $290 midpoint $300 midpoint Midstream, saltwater disposal and infrastructure $185 midpoint $150 midpoint Commodity price assumptions: WTI ($ per bbl) $80 $76 Henry Hub ($ per mmbtu) $2.37 $2.22 Cash Flow & Investment ($ in billions) Discretionary Cash Flow $3.2 $2.9 Capital Expenditures $1.75 — $1.85 — $1.95 $1.75 — $1.80 — $1.85 Free Cash Flow (DCF - cash capex) $1.3 $1.1 $ 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 — $9.55 No change _______________________________________________________________________________ (1) Excludes stock-based compensation and severance expense 19 Quarterly Guidance Third Quarter 2024 Guidance Third Quarter 2024 Actual Fourth Quarter 2024 Guidance Low Mid High Low Mid High Total Equivalent Production (MBoed) 620 — 635 — 650 669 630 — 645 — 660 Gas (Mmcf/day) 2,500 — 2,565 — 2,630 2,682 2,530 — 2,595 — 2,660 Oil (MBbl/day) 107.0 — 109.0 — 111.0 112.3 106.0 — 108.0 — 110.0 Net wells turned in line Marcellus Shale 0 — 4 — 7 7 11 Permian Basin 15 — 20 — 25 24 13 — 18 — 23 Anadarko Basin 5 — 5 — 5 5 1 — 4 — 7 Capital expenditures ($ in millions) Total Company $450 — $480 — $530 $418 $410 — $455 — $500 20 Investor Contact Daniel Guffey - Vice President of Finance, IR & Treasury 281.589.4875 Hannah Stuckey - Investor Relations Manager 281.589.4983 21
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.