HighGravityDataCoterra Energy — Nov 3, 2025 release
Fiscal 2025 third-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0000858470-25-000196
Showing in the filing
Natural gas production
“2,775 to 2,925 MMcfpd”
Period
Q4 FY2025
Measure
GAAP-tied
Source
Prose
All guidance in this release · 53
Quarterly dividend for Q4 FY2025
“$0.22 per share”
WTI ($ per bbl) for FY2025
“$65”
Capital expenditures (non-GAAP) for FY2025
“around $2.3 billion”
Reinvestment rate for FY2025
“approximately 55%”
Free Cash Flow (non-GAAP) for FY2025
“approximately $2.0 billion”
Capital expenditures for FY2026
“modestly down from 2025”
Annual BOE growth for FY2026
“0-5%”
Annual oil growth for FY2026
“approximately 5%”
Reinvestment rate for FY2026
“at, or below, 50%”
Per unit costs for Q4 FY2025
“expects fourth quarter per unit costs to trend closer to the mid-point of our annual guidance range”
Share repurchases for Q4 FY2025
“expects to continue to opportunistically repurchase its shares”
Shareholder returns
“50% or greater of Free Cash Flow (non-GAAP)”
Shareholder returns (% of Free Cash Flow) for the long term
“50% or greater”
Total equivalent production for FY2025
“772 to 782 MBoepd”
Natural gas production for FY2025
“2,925 to 2,965 MMcfpd”
Oil production for FY2025
“159 to 161 MBopd”
Total equivalent production for FY2025
“770 to 810 MBoepd”
Total equivalent production for Q4 FY2025
“770 to 810 MBoepd”
Oil production for FY2025
“172 to 178 MBopd”
Oil production for Q4 FY2025
“172 to 178 MBopd”
Natural gas production for FY2025
“2,775 to 2,925 MMcfpd”
Natural gas production for Q4 FY2025
“2,775 to 2,925 MMcfpd”
Capital expenditures (non-GAAP) for FY2025
“approximately $530 million”
Capital expenditures (non-GAAP) for Q4 FY2025
“approximately $530 million”
Capital expenditures Total Company ($ in mil… for Q4 FY2025
“$530”
Effective tax rate for FY2025
“22%”
Cash taxes for Q4 FY2025
“no cash taxes during fourth-quarter 2025”
Net wells turned in line Anadarko Basin for FY2025
“20”
Total Equivalent Production (MBoed) for FY2025
“772 — 777 — 782”
Gas (Mmcf/day) for FY2025
“2,925 — 2,945 — 2,965”
Oil (MBbl/day) for FY2025
“159 — 160 — 161”
Net wells turned in line Marcellus Shale for FY2025
“9 — 13”
Net wells turned in line Permian Basin for FY2025
“165”
Net wells turned in line Anadarko Basin for Q4 FY2025
“5”
Capital expenditures Total Company ($ in mil… for FY2025
“$2,310”
Drilling and completion Marcellus Shale for FY2025
“$320”
Drilling and completion Permian Basin for FY2025
“$1,560”
Drilling and completion Anadarko Basin for FY2025
“$230”
Midstream, saltwater disposal and infrastruc… for FY2025
“$200”
Discretionary Cash Flow ($ in billions) for FY2025
“$4.3”
Capital Expenditures ($ in billions) for FY2025
“$2.3”
Free Cash Flow (DCF - incurred capex) ($ in … for FY2025
“$2.0”
Lease operating expense + workovers + region… for FY2025
“$2.50 — $3.05 — $3.60”
Henry Hub ($ per mmbtu) for FY2025
“No change”
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 Q4 FY2025
“770 — 790 — 810”
Gas (Mmcf/day) for Q4 FY2025
“2,775 — 2,850 — 2,925”
Oil (MBbl/day) for Q4 FY2025
“172 — 175 — 178”
Net wells turned in line Marcellus Shale for Q4 FY2025
“2 — 6”
Net wells turned in line Permian Basin for Q4 FY2025
“41”
Exhibit 99.1 · the passage around this item
… earlier in the release
Tightening the range around 2025 oil production to 159 to 161 MBopd. • Announcing fourth-quarter 2025 guidance, including total equivalent production of 770 to 810 MBoepd, oil production of 172 to 178 MBopd, natural gas production of 2,775 to 2,925 MMcfpd, and capital expenditures (non-GAAP) of approximately $530 million. • Estimate full-year 2025 effective tax rate of 22% and no cash taxes during fourth-quarter 2025. • For more details on annual and fourth-quarter 2025 guidance, see 2025 Guidance Section in the tables below. Strong Financial Position In conjunction with the closing of the Franklin Mountain Energy and Avant Natural Resources acquisitions in late January, Coterra issued $1.0 billion of new debt through its term loan agreements. Subsequently, Coterra has paid down $600 million of the term loans through September 2025, including $250 million in the third quarter, leaving $400 million of term loan debt outstanding. As of September 30, 2025, Coterra had total debt outstanding of $3.9 billion (principal balance), down from $4.5 billion in January 2025. The Company exited the quarter with cash and cash equivalents of $98 million, and no debt outstanding under its $2.0 billion revolving credit facility, resulting in total liquidity of approximately $2.1 billion. Net Debt to trailing twelve-month Adjusted Pro Forma EBITDAX ratio (non-GAAP) at September 30, 2025 was 0.8x, pro forma for the Franklin and Avant acquisitions. Th
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.