Coterra Should Generate $1.3 Billion In 2024 FCF Despite Weak Natural Gas Prices [Seeking Alpha]
Coterra Energy Inc. (CTRA)
Last coterra energy inc. earnings: 3/18 07:30 am
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US:NASDAQ Investor Relations:
conturaenergy.com/financials
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Source: Seeking Alpha
I was expecting closer to $1.2 billion in 2023 free cash flow, and Coterra also benefited from lower than expected capex. For 2024, Coterra is projected to generate $1.326 billion in free cash flow at current strip. At longer-term prices of $75 WTI oil and $3.75 Henry Hub gas, Coterra may be able to generate $2+ billion in free cash flow along with modest production growth. Looking for more investing ideas like this one? Get them exclusively at Distressed Value Investing. Learn More » Coterra Energy Inc. NYSE: CTRA ) reported Q4 2023 results that exceeded production expectations by a few percent. The strong production and lower than expected capex resulted in its 2023 free cash flow ending up around $132 million higher than I had projected for it when I looked at it in December 2023 Coterra has significantly reduced its Marcellus capex for 2024 and expects a 6% decline in natural gas production in 2024, but is planning for modest natural gas production growth after that in
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CTRA
News
- Earnings Preview: Coterra Energy (CTRA) Q1 Earnings Expected to Decline [Yahoo! Finance]Yahoo! Finance
- Here's Why Shareholders Will Not Be Complaining About Coterra Energy Inc.'s (NYSE:CTRA) CEO Pay Packet [Yahoo! Finance]Yahoo! Finance
- Coterra Energy (CTRA) Gains But Lags Market: What You Should Know [Yahoo! Finance]Yahoo! Finance
- UPDATE 1-EQT cuts annual sales volume outlook as natgas prices decline [Yahoo! Finance]Yahoo! Finance
- EQT cuts annual sales volume outlook as natgas prices decline [Reuters]Reuters
CTRA
Earnings
- 2/22/24 - Miss
CTRA
Sec Filings
- 3/22/24 - Form 4
- 3/20/24 - Form DEFA14A
- 3/20/24 - Form DEF
- CTRA's page on the SEC website