HighGravityDataCoterra Energy — Feb 26, 2026 release
Fiscal 2025 fourth-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0000858470-26-000053
Showing in the filing
Capital expenditures - Drilling and completion - Permian Basin ($ in millions)
“$1,530”
Period
FY2026
Measure
Company-defined measure
Source
Guidance table
All guidance in this release · 26
Quarterly Dividend for FY2026
“$0.22 per share”
Total Equivalent Production for FY2026
“750 to 810 MBoepd”
Natural gas production for FY2026
“2,775 to 2,975 MMcfpd”
Oil production for FY2026
“162 to 172 MBopd”
Capital expenditures for FY2026
“$2.25 billion, with a range of $2.175 to $2.325 billion”
Capital Expenditures for FY2026
“$2.25 billion, with a range of $2.175 to $2.325 billion”
Reinvestment rate for FY2026
“approximately 50%”
Free Cash Flow (non-GAAP) for FY2026
“$2.35 billion”
Pre-tax Synergy Capture (Devon-Coterra Merger) for FY2027
“$1 billion per year on a run-rate basis”
Net Debt to Adjusted EBITDAX ratio (non-GAAP)
“below 1.0x”
Net Debt to Adjusted EBITDAX ratio (non-GAAP) for the long term
“below 1.0x”
Total Equivalent Production (MBoed) for FY2026
“750 780 810”
Gas (Mmcf/day) for FY2026
“2,775 2,875 2,975”
Oil (MBbl/day) for FY2026
“162 167 172”
Net wells turned in line Marcellus Shale for FY2026
“32 36 40”
Net wells turned in line Permian Basin for FY2026
“130 140 150”
Net wells turned in line Anadarko Basin for FY2026
“12 15 18”
Capital expenditures Total Company ($ in mil… for FY2026
“$2,175 $2,250 $2,325”
Capital expenditures - Drilling and completi… for FY2026
“$350”
Capital expenditures - Drilling and completi… for FY2026
“$1,530”
Capital expenditures - Drilling and completi… for FY2026
“$190”
Capital expenditures - Midstream, saltwater … for FY2026
“$180”
Commodity price assumption - WTI ($ per bbl) for FY2026
“$64”
Commodity price assumption - Henry Hub ($ pe… for FY2026
“$3.86”
Discretionary Cash Flow ($ in billions) for FY2026
“$4.60”
Free Cash Flow ($ in billions) for FY2026
“$2.35”
Exhibit 99.1 · the passage around this item
… earlier in the release
Full Year Guidance November 2025 Guidance 2025 Actual 2026 Guidance Low Mid High Low Mid High Total Equivalent Production (MBoed) 772 777 782 782 750 780 810 Gas (Mmcf/day) 2,925 2,945 2,965 2,975 2,775 2,875 2,975 Oil (MBbl/day) 159 160 161 160 162 167 172 Net wells turned in line Marcellus Shale 9 13 13 32 36 40 Permian Basin 165 167 130 140 150 Anadarko Basin 20 19 12 15 18 Capital expenditures ($ in millions) Total Company $2,310 $2,318 $2,175 $2,250 $2,325 Drilling and completion Marcellus Shale $320 $295 $350 Permian Basin $1,560 $1,599 $1,530 Anadarko Basin $230 $241 $190 Midstream, saltwater disposal, infrastructure, and other $200 $183 $180 Commodity price assumptions: WTI ($ per bbl) $65 $65 $64 Henry Hub ($ per mmbtu) $3.41 $3.43 $3.86 Cash Flow & Investment ($ in billions) Discretionary Cash Flow $4.3 $4.3 $4.60 Capital Expenditures $2.3 $2.3 $2.175 $2.25 $2.325 Free Cash Flow $2.0 $2.0 $2.35 $ per boe, unless noted: Lease operating expense + workovers + region office $2.50 $3.05 $3.60 $3.58 $3.25 $3.50 $3.75 Gathering, processing, & transportation $3.25 $3.75 $4.25 $3.81 $3.25 $3.75 $4.25 Taxes other than income $1.25 $1.50 $1.75 $1.28 $1.10 $1.30 $1.50 General & administrative (1) $0.90 $1.00 $1.10 $0.91 $0.90 $1.00 $1.10 Unit Operating Cost $7.90 $9.30 $10.70 $9.58 $8.50 $9.55 $10.60 % effective tax rate 24% 20% 23% 25% % cash tax rate (cash tax / pre-tax income) 10% 13% 15% _______________________________________________________________________________ (1) Excludes stock-based compensation. 20 Investor Contact Daniel Guffey - Senior Vice President - Finance, IR, & Treasurer 281.589.4875 Hannah Stuckey - Director Investor Relations 281.589.4983 21
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.