Houston-based Coterra Energy said this week it acquired assets in Permian Basin from Franklin Mountain Energy and Avant Natural Resources in two deals totaling $3.95 billion ($2.95 billion cash, $1 billion stock). Tom Jordan, chairman, CEO and president, said Wednesday, “These highly accretive acquisitions create an expanded core area in New Mexico that plays to Coterra’s organizational strengths. In addition to adding significant oil volumes in 2025, the acquired assets provide inventory upside to established and emerging oil-weighted formations… The newly scaled platform provides a long runway for capital efficient development and substantial free cash flow generation.”
Coterra estimates 2025 oil production of 150,000 to 170,000 b/d for an increase of about 49 percent from 2024 midpoint guidance. Total production for 2025 is forecast at 720,000 to 760,000 boed – an increase of 11 percent from 2024 midpoint guidance.