Earnings Highlights CTRA

SynMax Research:

Coterra Energy (CTRA)

Coterra's strong Q4 2025 and full-year 2025 results were driven by efficient capital allocation and strong execution. For Q4 2025, total barrels of oil equivalent (BOE) and natural gas production beat the high-end of guidance, while oil production beat the midpoint of guidance.

2026 guidance reflects Coterra standalone operations. The merger with Devon Energy is expected to close in Q2 2026. 2026 guidance includes a negative production impact from Winter Storm Fern.

Q4 2025 natural gas production was 2.96 Bcf/d, higher than the midpoint guidance of 2.85 Bcf/d. The company issued full year 2026 natural gas production guidance. Their 2026 natural gas production is expected to be down YOY by 3.4% from 2.975 Bcf/d in 2025 to 2.875 Bcf/d in 2026. However, Cottera has a history of lowballing its production guidance numbers.