Coterra Energy Investing in Oil and Gas in Three Basins!
External Affairs Coordinator, Coterra Energy
[Editor’s Note: Coterra Energy (formerly Cabot Oil & Gas), with assets in three huge basins, is well positioned to grow and provide the oil and natural gas this nation needs.]
At Coterra Energy, we believe that embracing innovation, technology, and data allows us to build for the future. As a combined entity, we took the best of both Cabot and Cimarex – the people, the practices, and the portfolio.
As a premier, diversified energy company, we are well-positioned in the industry with top-tier onshore assets in the United States. Throughout our three core basins – Permian, Marcellus Shale, and Anadarko – we have a deep inventory of high-quality development projects with an industry-leading cost of supply. While each basin is unique in formation, product, and process, together they provide a solid portfolio for current and future operations.
As one of the oldest oil and gas producing basins in the United States, the Permian Basin is home to Coterra’s 234,000 net acres throughout west Texas and southeast New Mexico. Current development in this region is focused on the Upper Wolfcamp, Bone Spring, and Avalon target zones.
In 2021, production volume in this region was 186 MBOEpd – with 64% liquids and 36% natural gas. With a focus on sustainability, some of the key practices for this basin include the use of electric horsepower for power generation, an on-demand pipeline system for recycling water, and lowering emissions through reducing flaring activity.
As a much more recent industry target, the Marcellus Shale began to boom with activity in 2008 and still remains a top focus for exploration and production. Coterra’s operations in the region are primarily concentrated in Susquehanna County in northeast Pennsylvania.
Coterra currently holds approximately 177,000 net acres in this region, resulting in 2,228 MMCFpd in 2021 production volumes, culminating in 100% natural gas product. Sustainability practices in this region include field site reclamation, water recycling at nearly 100%, and the restriction of flaring to safety concerns only.
Another legacy asset in the oil and gas industry, the Anadarko Basin has a history that dates back to the late 1800s. Coterra holds an acreage position of 182,000 net acres, with current activity focused on the Woodford Shale in Western Oklahoma.
Coterra rounded out 2021 with 59 MBOEpd in production volume, with a make-up of 46% liquids and 54% natural gas. Coterra’s key sustainability practices for this asset include the use of electric horsepower for compression and continuous emission monitoring.
With a focus on the future, Coterra has a strong position to deliver strong returns – learn more on our website!
This post appeared first on Natural Gas Now.