HighGravityDataCoterra Energy — Feb 24, 2025 release
Fiscal 2024 fourth-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0000858470-25-000069
Showing in the filing
Drilling and completion capex - Permian Basin - 2025
“$1,570 midpoint”
Period
FY2025
Measure
Company-defined measure
Source
Guidance table
All guidance in this release · 61
Capital expenditures for FY2025
“between $2.1 and $2.4 billion”
Total BOE production growth for FY2025
“up approximately 9% year-over-year at the mid-point”
Oil volumes growth for FY2025
“up approximately 47%”
Natural gas volumes for FY2025
“relatively flat to 2024 levels”
Organic 2025 annual oil growth (legacy asset… for FY2025–2027
“greater than 5%”
Three-year outlook annual average oil growth for FY2025–2027
“5% or greater”
Three-year outlook annual average BOE growth for FY2025–2027
“0 to 5%”
Average annual capital for FY2025–2027
“$2.1 to $2.4 billion”
Three-year outlook average annual capital ra… for FY2025–2027
“$2.1 to $2.4 billion”
Average reinvestment rate for FY2025
“below 50%”
Three-year outlook average reinvestment rate… for FY2025
“below 50%”
Quarterly dividend increase for Q4 FY2024
“5% dividend increase to $0.22 per share”
New annualized dividend
“$0.88 per share”
Discretionary Cash Flow for FY2025
“approximately $5.0 billion”
Discretionary Cash Flow (non-GAAP) estimate for FY2025
“approximately $5.0 billion”
Free Cash Flow for FY2025
“approximately $2.7 billion”
Free Cash Flow (non-GAAP) estimate for FY2025
“approximately $2.7 billion”
Capital expenditures (2025 Outlook section) for FY2025
“$2.1 to $2.4 billion, up 28% year-over-year at the mid-point”
Reinvestment rate (non-GAAP) for FY2025
“slightly below 50%”
Average Permian Basin rig/completion crew co… for FY2025
“approximately 11 drilling rigs and 3 completion crews”
Permian Basin rigs and completion crews for FY2025
“approximately 11 drilling rigs and 3 completion crews”
Average Marcellus rig/completion crew count for FY2025
“1 rig and 0.5 completion crews”
Marcellus rigs and completion crews for FY2025
“1 rig and 0.5 completion crews”
Anadarko Basin rigs and completion crews for FY2025
“1.5 drilling rigs and 0.5 completion crews”
Average Anadarko Basin rig/completion crew c… for FY2025
“1.5 drilling rigs and 0.5 completion crews”
Total equivalent production for FY2025
“710 to 770 MBoepd”
Oil production for FY2025
“152 to 168 MBopd”
Natural gas production for FY2025
“2,675 to 2,875 MMcfpd”
1Q25 total equivalent production for Q1 FY2025
“710 to 750 MBoepd”
Total equivalent production for Q2 FY2025
“710 to 750 MBoepd”
1Q25 oil production for Q1 FY2025
“134 to 144 MBopd”
Oil production for Q2 FY2025
“134 to 144 MBopd”
1Q25 natural gas production for Q1 FY2025
“2,850 to 3,000 MMcfpd”
Natural gas production for Q2 FY2025
“2,850 to 3,000 MMcfpd”
1Q25 capital expenditures for Q1 FY2025
“$525 to $625 million”
Capital expenditures for Q2 FY2025
“$525 to $625 million”
Organic 2025 annual BOE growth (legacy asset… for FY2025–2027
“0 to 5%”
Quarterly base dividend
“$0.22 per share”
Annual Free Cash Flow returned to shareholders for FY2024
“50% or more”
Shareholder return target for the long term
“50% or more of its annual Free Cash Flow (non-GAAP)”
Term loan retirement for FY2025
“$1.0 billion”
Term loans for FY2025
“$1.0 billion”
Net Debt to Adjusted EBITDAX leverage ratio
“below 1.0x”
Net Debt to Adjusted EBITDAX leverage ratio … for the long term
“below 1.0x”
Net wells turned in line - Anadarko Basin - … for Q1 FY2025
“0”
Total Equivalent Production (MBoed) - 2025 (… for FY2025
“710 740 770”
Gas (Mmcf/day) - 2025 (Low/Mid/High) for FY2025
“2,675 2,775 2,875”
Oil (MBbl/day) - 2025 (Low/Mid/High) for FY2025
“152 160 168”
Net wells turned in line Marcellus Shale for FY2025
“10 13 15”
Net wells turned in line - Permian Basin - 2… for FY2025
“150 158 165”
Net wells turned in line - Anadarko Basin - … for FY2025
“15 20 25”
Incurred capital expenditures - Total Compan… for FY2025
“$2,100 $2,250 $2,400”
Drilling and completion capex - Marcellus Sh… for FY2025
“$250 midpoint”
Drilling and completion capex - Permian Basi… for FY2025
“$1,570 midpoint”
Drilling and completion capex - Anadarko Bas… for FY2025
“$230 midpoint”
Midstream, saltwater disposal and infrastruc… for FY2025
“$200 midpoint”
Total Equivalent Production (MBoed) - Q1 202… for Q1 FY2025
“710 730 750”
Gas (Mmcf/day) - Q1 2025 (Low/Mid/High) for Q1 FY2025
“2,850 2,925 3,000”
Oil (MBbl/day) - Q1 2025 (Low/Mid/High) for Q1 FY2025
“134 139 144”
Net wells turned in line - Permian Basin - Q… for Q1 FY2025
“35 40 45”
Incurred capital expenditures - Total Compan… for Q1 FY2025
“$525 $575 $625”
Exhibit 99.1 · the passage around this item
… earlier in the release
Full Year Guidance 2024 Guidance 2024 Actual 2025 Guidance Low Mid High Low Mid High Total Equivalent Production (MBoed) 660 668 675 677 710 740 770 Gas (Mmcf/day) 2,735 2,755 2,775 2,800 2,675 2,775 2,875 Oil (MBbl/day) 107 108 108 108.8 152 160 168 Net wells turned in line Marcellus Shale 40 41 10 13 15 Permian Basin 80 85 90 87 150 158 165 Anadarko Basin 21 24 27 26 15 20 25 Incurred capital expenditures ($ in millions) Total Company $1,750 $1,800 $1,850 $1,762 $2,100 $2,250 $2,400 Drilling and completion Marcellus Shale $300 midpoint $286 $250 midpoint Permian Basin $1,050 midpoint $1,051 $1,570 midpoint Anadarko Basin $300 midpoint $287 $230 midpoint Midstream, saltwater disposal and infrastructure $150 midpoint $137 $200 midpoint 21 First Quarter Guidance Fourth Quarter 2024 Guidance Fourth Quarter 2024 Actual First Quarter 2025 Guidance Low Mid High Low Mid High Total Equivalent Production (MBoed) 630 645 660 682 710 730 750 Gas (Mmcf/day) 2,530 2,595 2,660 2,779 2,850 2,925 3,000 Oil (MBbl/day) 106 108 110 113 134 139 144 Net wells turned in line Marcellus Shale 11 11 0 Permian Basin 13 18 23 18.1 35 40 45 Anadarko Basin 1 4 7 5.6 0 Incurred capital expenditures ($ in millions) Total Company $410 $455 $500 $417 $525 $575 $625 22 Investor Contact Daniel Guffey - VP - Finance, IR, & Treasurer 281.589.4875 Hannah Stuckey - Investor Relations Manager 281.589.4983 23
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.