Announcing Accretive Permian Basin Acquisitions November 13, 2024
Accretive Bolt-On Acquisitions Create New Focus Area in Delaware Basin 3.95 billion acquisitions of Franklin Mountain Energy and Avant Natural Resources Highly contiguous New Mexico assets play to Coterras organizational strengths…
Coterra to Acquire Franklin Mountain Energy and Avant Natural Resources Total consideration of 3.95 billion for Delaware bolt-ons Adding a New Focus Area in New Mexico Key Metrics Leveraging Core Strengths Total CTRA Acquisition…
Premier New Mexico Position Provides Runway for Growth Coring up the Northern Delaware New Focus Area in Lea County Contiguous Acreage Creates Economies of Scale Large, contiguous Optimizing newly scaled asset with CTRAs top-tier…
Bolt-On Acquisitions Strengthen Coterras Scale, Durability, & Resiliency Operational Benefits Financial Benefits Creating Scale and Strong Pro Forma Highly Accretive on Key Reduces Corporate Free Concentration in Inventory and…
2025 Pro Forma Framework Based on current outlook, expect 2025 program to be heavily Permian-weighted 2025e Pro Forma Capital1: 2,250 million 2025e Pro Forma Production1 CTRA oil (mbod) acquired oil (mbod) total equivalent (mboed)…
Enhancing Shareholder Returns Expect to generate significant Free Cash Flow, resilient to downside prices Expect to reinvest 50-70% of cash Consistent Shareholder Return Strategy flow at mid and low-cycle prices Free Cash Flow…
Financial Considerations for the Transaction Highly accretive to 2025e-2027e DCFPS and FCFPS Maintaining Peer-Leading Balance Sheet Acquisition Financial Details Funding: 15%+ accretive to 2025e-2027e DCFPS and FCFPS; accretive to…
Appendix
Current Hedge Position 2024 2025 2026 Natural Gas Fourth Quarter First Quarter Second Quarter Third Quarter Fourth Quarter First Quarter NYMEX collars Volume (MMBtu) 34,990,000 45,000,000 45,500,000 46,000,000 46,000,000 27,000,000…
Non-GAAP Reconciliations & Definitions Supplemental Non-GAAP Financial Measures (Unaudited): We report our financial results in accordance with EBITDAX accounting principles generally accepted in the United States (GAAP). However, we…
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