Coterra
US energy company
From Wikipedia, the free encyclopedia
Coterra Energy Inc. is an American energy company engaged in hydrocarbon exploration. The company has operations in the Permian Basin, Marcellus Shale, and the Anadarko Basin.[1] The company is being acquired by Devon Energy.
 | |
| Company type | Public |
|---|---|
| Industry | Petroleum industry |
| Predecessors |
|
| Founded | 1989 |
| Headquarters | Houston, Texas, U.S. |
Key people | Thomas E. Jorden (chairman, president & CEO) |
| Products | |
| Revenue |  US$5.46 billion (2024) |
| US$1.39 billion (2024) | |
| US$1.12 billion (2024) | |
| Total assets |  US$21.6 billion (2024) |
| Total equity | US$13.1 billion (2024) |
Number of employees | 915 (2024) |
| Website | coterra.com |
| Footnotes / references [1] | |
As of 31 December 2024[update], the company had 2,271 million barrels of oil equivalent (1.389×1010 GJ) of estimated proved reserves, of which 85% was natural gas, 7% was petroleum, and 8% was natural gas liquids.[1]
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.[2]
In 1994, the company acquired Washington Energy Resources for $180 million in stock.[3]
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.[4]
In 1997, the company sold oil reserves and land in northwest Pennsylvania for $92.5 million.[5]
In 2001, the company acquired Cody Energy for $230 million.[6]
In 2013, the company sold its assets in the Marmaton play of Oklahoma and West Texas for $160 million.[7]
In March 2018, the company sold its assets in the Eagle Ford Group to KKR and Venado Oil & Gas for $765 million.[8]
In October 2021, the company acquired Cimarex Energy and was renamed Coterra Energy.[9]
In January 2025, the company acquired Franklin Mountain Energy and Avant Natural Resources for a combined $3.9 billion.[10]
In February 2026, the company agreed to be acquired by Devon Energy.[11]
Environmental issues
In September 2009, the company was cited for violations in regard to spills of toxic hydraulic fracturing fluids in Northeastern Pennsylvania.[12]
In January 2012, the company was cited for improper well construction that had resulted in polluted drinking water.[13]
In November 2022, the company pleaded no contest for contaminating well water in Dimock, Pennsylvania, and paid $16.29 million to construct a new means of water supply.[14]
In July 2025, the company was fined $299,000 for contaminating 13 wells in Lenox Township, Susquehanna County, Pennsylvania.[15]