Coterra Should Generate $1.3 Billion In 2024 FCF Despite Weak Natural Gas Prices

Maksim Safaniuk Coterra Energy Inc. (NYSE:CTRA) reported Q4 2023 results that exceeded production expectations by a few percent. The strong production and lower than expected capex resulted in its 2023 free cash flow ending up around $132 million higher than I had projected for it when I looked at it in December 2023. Coterra has significantly reduced its Marcellus capex for 2024 and expects a 6% decline in natural gas production in 2024, but is planning for modest natural gas production growth after th ...