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• Pre-Hedge Revenue: Over $1.4 billion, with oil contributing 50% of total revenue.

• Net Income: $297 million or $0.40 per share.

• Adjusted Net Income: $358 million or $0.49 per share.

• Discretionary Cash Flow: $776 million.

• Free Cash Flow: $351 million after cash capital expenditures.

• Total Equivalent Production: 677 MBOE per day for the full year 2024.

• Oil Production Growth: 13% year-over-year, exceeding the high end of initial guidance by 4%.

• Capital Expenditures: $1.76 billion for 2024, a 16% decrease year-over-year.

• Cash Operating Cost per Unit: $8.66 per BOE for the year.

• Dividend: $0.22 per share for the fourth quarter, increasing annual base dividend by 5% to $0.88 per share.

• Share Repurchases: 17 million shares for $464 million at an average price of $26.41.

• Shareholder Returns: 89% of free cash flow returned in 2024, totaling $1.1 billion.

• 2025 Production Guidance: 710 to 770 MBOE per day.

• 2025 Capital Guidance: $2.1 billion to $2.4 billion.

• 2025 Oil Production Growth: Expected 47% higher year-over-year at the midpoint of guidance.

• Warning! GuruFocus has detected 8 Warning Sign with CTRA.

Release Date: February 25, 2025

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Positive Points

• Coterra Energy Inc (NYSE:CTRA) achieved production levels above the high end of their guidance range for oil and natural gas in Q4 2024.

• The company returned 61% of its free cash flow in Q4 2024 through dividends and share buybacks, and 89% for the full year.

• Coterra Energy Inc (NYSE:CTRA) successfully closed the Franklin Mountain and Avant acquisitions, integrating these assets to optimize capital and operational efficiency.

• The company has a flexible capital plan for 2025, allowing for adjustments based on market conditions, particularly in the Marcellus program.

• Coterra Energy Inc (NYSE:CTRA) reported strong financial results with a net income of $297 million and adjusted net income of $358 million for Q4 2024.

Negative Points

• Coterra Energy Inc (NYSE:CTRA) faces potential challenges in the oil market, with plans to adjust their capital plan if oil markets become unstable.

• The company's 2025 capital plan includes significant oil investments, which could be risky if oil prices fluctuate.

• There is uncertainty regarding the integration and optimization of newly acquired assets, which could impact operational efficiency.

• Coterra Energy Inc (NYSE:CTRA) has a high level of capital expenditure planned for 2025, which may strain financial resources if market conditions worsen.

• The company is prioritizing deleveraging in 2025, which may limit the availability of funds for other strategic initiatives.