Coterra Energy's Strategic Permian Basin Expansion
Coterra Energy Inc. announces significant acquisitions in the Permian Basin worth $3.95 billion. The move includes a cash component of $2.95 billion and $1.0 billion in common stock. These acquisitions are projected to enhance Coterra's cash flow by over 15% between 2025 and 2027, boosting oil production significantly.
Coterra Energy Inc. has unveiled plans to expand its presence in the Permian Basin through major acquisitions valued at $3.95 billion. This strategic move reflects Coterra's commitment to growth and innovation in the energy sector.
The deal comprises $2.95 billion in cash and an additional $1.0 billion in Coterra common stock. The company intends to finance the cash portion through existing cash reserves and strategic borrowings, signifying a robust financial strategy.
Projections suggest that these acquisitions will enhance Coterra's discretionary cash flow and free cash flow by more than 15% from 2025 to 2027. Additionally, the company's oil production is expected to reach 150-170 MBOD, with total equivalent production estimated at 720-760 MBOED by 2025.
(With inputs from agencies.)
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- Coterra Energy
- Permian Basin
- acquisitions
- billion
- cash flow
- production
- oil
- stock
- borrowing
- 2025
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