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
Annualized dividend yield
“3.4% annualized yield”
Period
No period stated
Measure
Declared action
Source
Prose
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
• Closed the Franklin Mountain Energy and Avant Natural Resources acquisitions in late January. 2 Shareholder Return Highlights • Common Dividend : On May 5, 2025, Coterra's Board of Directors (the "Board") approved a quarterly dividend of $0.22 per share, equating to a 3.4% annualized yield, based on the Company's $25.67 closing share price on May 2, 2025. The dividend will be paid on May 29, 2025 to holders of record on May 15, 2025. • Share Repurchases : During the quarter, the Company repurchased 0.9 million shares for $24 million at a weighted-average price of approximately $27.54 per share, leaving $1.1 billion remaining as of March 31, 2025 on its $2.0 billion share repurchase authorization. • Shareholder Return: During the quarter, direct shareholder returns amounted to approximately $192 million, comprised of approximately $168 million of declared dividends and $24 million of share repurchases. The Company also repaid $250 million of debt during the quarter. • Reiterate Shareholder Return Strategy: Coterra expects to return 50% or greater of annual Free Cash Flow (non-GAAP) to shareholders through the cycles via its base dividend and share repurchases. However, in 2025, after payment of its base dividend, the Company is prioritizing debt reduction as it looks to retire the outstanding $750 million term loans, which mature in 2027 and 2028. Guidance Updates • Lowered 2025 capital expenditures range (non-GAAP) to $2.0 to $2.3 billion, down from $2.1 to $2.4 bil
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.