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Coterra Energy – 2025 Development Summary

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   |    Thursday,May 29,2025

Strategic Focus

Coterra’s 2025 development program emphasizes:

  • Capital discipline

  • Balanced exposure to oil and gas markets

  • Efficient multi-basin operations

  • High-return well inventory utilization

The company plans to maintain capital spending levels flat year-over-year, while continuing to optimize returns across its three core basins: Delaware, Marcellus, and Anadarko.

Capital Expenditure Plan

  • Total capital budget: $1.7–$1.9 billion

  • Flat vs. 2024, reflecting efficiency gains and consistent pricing

  • Majority of capex directed to Delaware Basin (~70%)

  • Continued investment in short-cycle, high-return projects

Correta planned changes will see a reduction in permian rig count from 10 to 7

Costs remain flat to slightly lower versus 2024 due to:

  • Improved drilling/completion cycle times

  • Enhanced vendor management

  • Reduced inflationary pressure in service markets

 

Program Flexibility

Coterra maintains flexibility to adjust activity:

  • Marcellus and Anadarko programs can ramp up or down based on gas and NGL pricing.

  • Delaware activity is steady, given its oil weighting and capital efficiency.

Additional Highlights



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