Northeastern Pennsylvania -
Coterra Energy Inc., an independent energy company operating in the Lower 48, surpassed production guidance in the second quarter across all sectors. This includes natural gas, oil, and liquids, which saw a 9% increase in Marcellus Shale natural gas volumes.
CEO Thomas Jorden attributes their success to various factors, such as optimization of completions design spacing, landing zone selection, and better-than-expected performance from a project involving three-mile laterals.
CFO Shane Young, who has taken over from retiring Scott Schroeder, reports that production volumes averaged 665,000 boe/d, reflecting a 5% sequential increase. In terms of natural gas, volumes grew from 2.8 Bcf/d to 2.9 Bcf/d, while oil output reached an all-time high of 95,800 b/d.
This exceptional performance demonstrates Coterra Energy Inc.’s competence in maximizing its production potential. The company continues to focus on innovative techniques and operational enhancements to further improve its results. With its strong presence in the industry, Coterra Energy Inc. is expected to maintain its success and contribute to the energy sector’s growth.
