Company:Coterra

From HandWiki
Coterra Energy Inc.
TypePublic
IndustryPetroleum industry
Predecessors
Founded1989; 37 years ago (1989)
HeadquartersHouston, Texas, U.S.
Key people
Thomas E. Jorden (chairman, president & CEO)
Products
RevenueIncrease US$7.65 billion (2025)
Increase US$2.45 billion (2025)
Increase US$1.72 billion (2025)
Total assetsIncrease US$24.2 billion (2025)
Total equityIncrease US$14.8 billion (2025)
Number of employees
1,075 (2025)
Websitecoterra.com
Footnotes / references
[1]

Coterra Energy Inc. is an American energy company engaged in hydrocarbon exploration. The company has operations in the Permian Basin, Marcellus Shale, and the Anadarko Basin.[1] The company is being acquired by Devon Energy.

As of 31 December 2024, the company had 2,271 million barrels of oil equivalent (1.389×1010 GJ) of estimated proved reserves, of which 85% was natural gas, 7% was petroleum, and 8% was natural gas liquids.[2]

History

The company was formed as Cabot Oil & Gas Corporation, a subsidiary of Cabot Corporation. It became a public company via an initial public offering in February 1990. In March 1991, the company became 100% publicly owned.[3]

In 1994, the company acquired Washington Energy Resources for $180 million in stock.[4]

In May 1995, the company ousted John Lollar, its chairman and CEO, in part due to the ill-timing of the acquisition of Washington Energy Resources.[5]

In 1997, the company sold oil reserves and land in northwest Pennsylvania for $92.5 million.[6]

In 2001, the company acquired Cody Energy for $230 million.[7]

In 2013, the company sold its assets in the Marmaton play of Oklahoma and West Texas for $160 million.[8]

In March 2018, the company sold its assets in the Eagle Ford Group to KKR and Venado Oil & Gas for $765 million.[9]

In October 2021, the company acquired Cimarex Energy and was renamed Coterra Energy.[10]

In January 2025, the company acquired Franklin Mountain Energy and Avant Natural Resources for a combined $3.9 billion.[11]

In February 2026, the company agreed to be acquired by Devon Energy.[12]

Environmental issues

In September 2009, the company was cited for violations in regard to spills of toxic hydraulic fracturing fluids in Northeastern Pennsylvania.[13]

In January 2012, the company was cited for improper well construction that had resulted in polluted drinking water.[14]

In November 2022, the company pleaded no contest for contaminating well water in Dimock, Pennsylvania, and paid $16.29 million to construct a new means of water supply.[15]

In July 2025, the company was fined $299,000 for contaminating 13 wells in Lenox Township, Susquehanna County, Pennsylvania.[16]

References

  1. ↑ 1.0 1.1 "Coterra Energy Inc. 2025 Form 10-K Annual Report". U.S. Securities and Exchange Commission. February 27, 2026. https://www.sec.gov/ix?doc=/Archives/edgar/data/0000858470/000085847026000073/cog-20251231.htm. 
  2. ↑ "Coterra Energy Inc. 2024 Form 10-K Annual Report". U.S. Securities and Exchange Commission. February 25, 2025. https://www.sec.gov/ix?doc=/Archives/edgar/data/858470/000085847025000075/cog-20241231.htm. 
  3. ↑ "FORM 11-K". U.S. Securities and Exchange Commission. https://www.sec.gov/Archives/edgar/data/858470/000119312503014713/d11k.htm. 
  4. ↑ "Cabot Oil Adding Washington State Energy Unit". The New York Times. February 26, 1994. https://www.nytimes.com/1994/02/26/business/company-news-cabot-oil-adding-washington-state-energy-unit.html. 
  5. ↑ "Cabot Oil and Gas Ousts its Top Officer". The New York Times. May 20, 1995. https://www.nytimes.com/1995/05/20/business/company-news-cabot-oil-and-gas-ousts-its-top-officer.html. 
  6. ↑ "CABOT OIL TO SELL RESERVES TO LOMAK FOR $92.5 MILLION". The New York Times. Dow Jones & Company. September 9, 1997. https://www.nytimes.com/1997/09/09/business/cabot-oil-to-sell-reserves-to-lomak-for-92.5-million.html. 
  7. ↑ PIEPUL, ROBERT (June 21, 2001). "Cabot Oil & Gas to acquire Cody for $230 million". Oil & Gas Journal. https://www.ogj.com/general-interest/companies/article/17262025/cabot-oil-gas-to-acquire-cody-for-230-million. 
  8. ↑ "Cabot Oil & Gas Corporation Provides Operations Update, Announces Share Repurchases and Sale of Conventional Mid-Continent Properties" (Press release). PR Newswire. December 9, 2013.
  9. ↑ Chapa, Sergio (March 19, 2018). "Oil company-investment firm partnership closes on $765M Eagle Ford deal". American City Business Journals. https://www.bizjournals.com/sanantonio/news/2018/03/19/oil-company-investment-firm-partnership-closes-on.html. 
  10. ↑ "Cabot Oil & Gas and Cimarex Energy Complete Combination, Forming Coterra Energy" (Press release). PR Newswire. October 1, 2021.
  11. ↑ Onsat, Jov (January 28, 2025). "Coterra Completes $3.9 Billion Permian Acquisitions". Rigzone. https://www.rigzone.com/news/coterra_completes_39_billion_permian_acquisitions-28-jan-2025-179450-article/. 
  12. ↑ Menon, Pooja; Saha, Sumit (February 2, 2026). "Devon, Coterra will merge to create $58 billion US shale giant". Reuters. https://www.reuters.com/legal/transactional/us-shale-producers-devon-coterra-merge-58-billion-deal-2026-02-02/. 
  13. ↑ "Cited for chemical spills, Cabot Oil reports another". The Scranton Times-Tribune. September 23, 2009. https://www.thetimes-tribune.com/news/cited-for-chemical-spills-cabot-oil-reports-another-1.277029. 
  14. ↑ "Cabot slapped with violation". Upstream. January 9, 2012. https://www.upstreamonline.com/live/1116493/cabot-slapped-with-violation. 
  15. ↑ Verma, Swati (November 30, 2022). "Coterra Energy to pay $16.29 mln for Pennsylvania water contamination plea". Reuters. https://www.reuters.com/world/us/coterra-energy-pay-1629-mln-pennsylvania-water-contamination-plea-2022-11-30/. 
  16. ↑ "Coterra to pay a $299000 fine for contaminating 13 wells in Lenox Twp". Wyoming County Examiner. August 1, 2025. https://www.wcexaminer.com/2025/08/01/coterra-to-pay-a-299000-fine-for-contaminating-13-wells-in-lenox-twp/. 

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