Coterra
Coterra Energy Inc. is an American energy company engaged in hydrocarbon exploration based in Houston, Texas. The company has operations in the Permian Basin, Marcellus Shale, and the Anadarko Basin.
, the company had of estimated proved reserves, of which 85% was natural gas, 7% was petroleum, and 8% was natural gas liquids.
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.In 1994, the company acquired Washington Energy Resources in a $180 million stock transaction.
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.
In 1997, the company sold oil reserves and land in northwest Pennsylvania for $92.5 million.
In 2001, the company acquired Cody Energy for $230 million.
In June 2008, the company was added to the S&P 500.
In 2013, the company sold its assets in the Marmaton play of Oklahoma and West Texas for $160 million.
In March 2018, the company sold its assets in the Eagle Ford Group to KKR and Venado Oil & Gas.
In October 2021, the company acquired Cimarex Energy and was renamed Coterra Energy.
In January 2025, the company acquired Franklin Mountain Energy and Avant Natural Resources for a combined $3.9 billion.
Controversies
Environmental damage
In 2009, the company was cited for violations in regard to spills of toxic hydraulic fracturing fluids in Northeastern Pennsylvania.In 2012, the company was cited for improper well construction that had resulted in polluted drinking water.