Coterra Energy Inc. Amends Credit Agreement

Details

(the 'Company') amended its Credit Agreement, dated as of March 10, 2023, with JPMorgan Chase Bank, N.A., as administrative agent, and certain lenders and issuing banks party thereto. The Amendment increased the aggregate revolving commitments from $1.5 billion to $2.0 billion and extended the maturity date from March 10, 2028, to September 12, 2029. The Amendment also included certain modifications to the representations, warranties, affirmative and negative covenants, and events of default. Many of the lenders under the Credit Agreement have in the past and may in the future provide various services to the Company and its subsidiaries for customary compensation and expense reimbursement.

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About Coterra Energy Inc.

Coterra Energy Inc. is a prominent energy company specializing in the exploration and production of oil, natural gas, and natural gas liquids in the United States. Established through the merger of two major entities, Cabot Oil & Gas Corporation and Cimarex Energy Co., Coterra Energy aims to leverage their combined resources to enhance operational efficiencies and capitalize on energy market opportunities. The company primarily focuses on developing assets within the prolific regions of the Permian Basin, Marcellus Shale, and Anadarko Basin, which are known for their substantial hydrocarbon deposits. These operations influence various industrial sectors by providing essential energy resources required for manufacturing, transportation, and residential utilities. Coterra's strategy emphasizes sustainable energy extraction practices and technological innovation to minimize environmental impact. In the financial market, Coterra Energy plays a significant role by contributing to energy supply stability and offering investment possibilities within the energy sector, underlining its commitment to efficient energy production while supporting the evolving needs of a dynamic global energy landscape.