Coterra Holds Rig Count Steady in the Permian as Market Jitters Ease

Key Takeaways CTRA scraps plans to cut rigs in the Permian, keeping the count steady at nine amid oil optimism. Capital spending is now expected at the high end of CTRA's $2-$2.3 billion annual guidance. CTRA stated it can stay profitable with WTI crude at $60-$65 and remain viable even with a dip to $50.Coterra Energy Inc. (CTRA) is keeping its rig count steady at nine in the Permian Basin, a sharp pivot from the earlier plan to scale back operations amid oil market uncertainty. The shift signals renewed ...