HighGravityDataCoterra Energy — May 5, 2025 release
Fiscal 2025 first-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0000858470-25-000103
Showing in the filing
Total Equivalent Production (MBoed)
“720 — 745 — 770”
Period
FY2025
Measure
Company-defined measure
Source
Guidance table
All guidance in this release · 45
Quarterly dividend
“$0.22 per share”
Permian rigs for H2 FY2025
“seven”
Second-half 2025 Permian rig count for H2 FY2025
“seven Permian rigs”
Capital budget range for FY2025
“$2.0 to $2.3 billion”
Capital expenditures for FY2025
“$2.0 to $2.3 billion”
Reinvestment rate (non-GAAP) for FY2025
“approximately 50%”
Permian capital reduction for FY2025
“approximately $150 million”
Incremental capital (second rig option throu…
“an incremental $50 million”
Incremental Marcellus capital (option to kee… for FY2025
“$50 million”
Annualized dividend yield
“3.4% annualized yield”
Annual Free Cash Flow returned to shareholders for FY2025
“50% or greater”
Shareholder return target for the long term
“50% or greater of annual Free Cash Flow (non-GAAP)”
Term loans for FY2025
“$750 million”
Total equivalent production for FY2025
“710 to 760 MBoepd”
Total equivalent production for Q2 FY2025
“710 to 760 MBoepd”
Oil production for FY2025
“147 to 157 MBopd”
Oil production for Q2 FY2025
“147 to 157 MBopd”
Natural gas production for FY2025
“2,700 to 2,850 MMcfpd”
Natural gas production for Q2 FY2025
“2,700 to 2,850 MMcfpd”
Capital expenditures (non-GAAP) for Q2 FY2025
“$575 to $650 million”
Discretionary Cash Flow (non-GAAP) for FY2025
“approximately $4.3 billion”
WTI price assumption for FY2025
“approximately $63 per bbl”
Commodity price assumption - Henry Hub ($ pe… for FY2025
“$3.70”
Net wells turned in line - Marcellus Shale for Q2 FY2025
“3”
Net wells turned in line - Anadarko Basin for Q2 FY2025
“9”
Total Equivalent Production (MBoed) for FY2025
“720 — 745 — 770”
Gas (Mmcf/day) for FY2025
“2,725 — 2,800 — 2,875”
Oil (MBbl/day) for FY2025
“155 — 160 — 165”
Capital expenditures Total Company ($ in mil… for FY2025
“$2,000 — $2,150 — $2,300”
Drilling and completion Marcellus Shale for FY2025
“$300 midpoint”
Drilling and completion Permian Basin for FY2025
“$1,450 midpoint”
Midstream, saltwater disposal and infrastruc… for FY2025
“$170 midpoint”
Commodity price assumption - WTI ($ per bbl) for FY2025
“$63”
Capital Expenditures ($ in billions) for FY2025
“$2.0 — $2.2 — $2.3”
Free Cash Flow (DCF - incurred capex) ($ in … for FY2025
“$2.1”
Lease operating expense + workovers + region… for FY2025
“$2.50 — $3.05 — $3.60”
Gathering, processing, & transportation ($/b… for FY2025
“$3.25 — $3.75 — $4.25”
Taxes other than income ($/boe) for FY2025
“$1.25 — $1.50 — $1.75”
General & administrative ($/boe) for FY2025
“$0.90 — $1.00 — $1.10”
Unit Operating Cost ($/boe) for FY2025
“$7.90 — $9.30 — $10.70”
Total Equivalent Production (MBoed) for Q2 FY2025
“710 — 735 — 760”
Gas (Mmcf/day) for Q2 FY2025
“2,700 — 2,775 — 2,850”
Oil (MBbl/day) for Q2 FY2025
“147 — 152 — 157”
Net wells turned in line - Permian Basin for Q2 FY2025
“45 — 55 — 65”
Capital expenditures - Total Company ($ in m… for Q2 FY2025
“$575 — $613 — $650”
Exhibit 99.1 · the passage around this item
… earlier in the release
(In millions) March 31, 2025 December 31, 2024 Total debt $ 4,280 $ 3,535 Net income 1,285 1,121 Total debt to net income ratio 3.3 x 3.2 x Net debt (as defined above) $ 4,094 $ 1,497 Adjusted Pro Forma EBITDAX (Trailing twelve months) 4,663 4,261 Net debt to Adjusted EBITDAX 0.9 x 0.4 x 19 2025 Guidance The tables below present full-year and second quarter 2025 guidance. Full Year Guidance 2025 Guidance (February) Updated 2025 Guidance Low Mid High Low Mid High Total Equivalent Production (MBoed) 710 — 740 — 770 720 — 745 — 770 Gas (Mmcf/day) 2,675 — 2,775 — 2,875 2,725 — 2,800 — 2,875 Oil (MBbl/day) 152 — 160 — 168 155 — 160 — 165 Net wells turned in line Marcellus Shale 10 — 13 — 15 No change Permian Basin 150 — 158 — 165 No change Anadarko Basin 15 — 20 — 25 No change Capital expenditures ($ in millions) Total Company $2,100 — $2,250 — $2,400 $2,000 — $2,150 — $2,300 Drilling and completion Marcellus Shale $250 midpoint $300 midpoint Permian Basin $1,570 midpoint $1,450 midpoint Anadarko Basin $230 midpoint No change Midstream, saltwater disposal and infrastructure $200 midpoint $170 midpoint Commodity price assumptions: WTI ($ per bbl) $71 $63 Henry Hub ($ per mmbtu) $4.22 $3.70 Cash Flow & Investment ($ in billions) Discretionary Cash Flow $5.0 $4.3 Capital Expenditures $2.1 — $2.3 — $2.4 $2.0 — $2.2 — $2.3 Free Cash Flow (DCF - incurred capex) $2.7 $2.1 $ per boe, unless noted: Lease operating expense + workovers + region office $2.50 — $3.05 — $3.60 No change Gathering, processing, & transportation $3.25 — $3.75 — $4.25 No change Taxes other than income $1.25 — $1.50 — $1.75 No change General & administrative (1) $0.90 — $1.00 — $1.10 No change Unit Operating Cost $7.90 — $9.30 — $10.70 No change
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.