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
Free Cash Flow (non-GAAP)
“approximately $2.0 billion”
Period
FY2025
Measure
Company-defined measure
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
Continue to expect 2025 capital expenditures (non-GAAP) around $2.3 billion, which assumes we continue to run nine rigs in the Permian, one to two rigs in the Marcellus, and one rig in the Anadarko during the fourth quarter. This delivers a full year 2025 reinvestment rate, defined as incurred capital expenditures as a percentage of Discretionary Cash Flow (non-GAAP), of approximately 55%. • Expect 2025 Free Cash Flow (non-GAAP) of approximately $2.0 billion, at recent strip prices. • Third-quarter 2025 declared dividend of $0.22 per share, or approximately $168 million on a cash basis. Additionally, the Company continued to prioritize debt repayment, repaying $250 million of term loans during the quarter. Coterra remains committed to reducing its leverage and maintaining its top-tier balance sheet. In addition, the Company resumed repurchasing its shares opportunistically in the fourth quarter. • Coterra has accelerated its leasing ground game in 2025, acquiring $86 million of leasehold year-to-date, in addition to our customary acreage trade optimizations. 1 • Looking ahead, based on current expectations, the Company anticipates 2026 capital expenditures modestly down from 2025, while maintaining 0-5% annual BOE growth, and approximately 5% annual oil growth. Based on recent strip prices, the Company expects its 2026 reinvestment to be at, or below, 50%. Third-Quarter 2025 Highlights • Net Income (GAAP) totaled $322 million, or $0.42 per share. Adjusted Net Income (non-GAAP) was $312 million, or $0.41 per share. • Cash Flow From Operating Activities (GAAP) totaled $971 million. Discretionary Cash Flow (non-GAAP) totaled $1,148 milli
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.