Coterra Energy: Balanced Portfolio and M&A Strategy

Coterra Energy Inc. reported strong first quarter 2024 results, with total equivalent production reaching the high end of guidance at 686,000 barrels of oil equivalent per day. This was driven by well performance that exceeded expectations and optimal production timing. The company increased its full year oil guidance while holding its natural gas guidance unchanged. Despite notable commodity price swings, revenue remained stable, providing the company with flexibility in maintaining a consistent level of activity while also affording the potential for gas price recovery.