Coterra Energy Inc. (NYSE:CTRA) reported fourth-quarter FY23 revenue of $1.596 billion, beating the consensus of $1.528 billion.
Adjusted EPS of $0.52 missed the consensus of $0.55.
Operating cash flow stood at $760 million in the quarter vs. $1.48 billion in the prior-year quarter. Free Cash Flow totaled $413 million.
Total equivalent production came in at 697 MBoepd (thousand barrels of oil equivalent per day), exceeding the high end of guidance (645 to 680 MBoepd), led by improved cycle times and strong well performance.
The company reported oil production averaged 104.7 MBopd (thousand barrels of oil per day), exceeding the guidance of 98 MBopd – 102 MBopd; and natural gas production averaged 2,970 MMcfpd (million cubic feet per day), surpassing the guidance of 2,780-2,900 MMcfpd).
Coterra Energy’s average realized oil prices were $77.10 per barrel (Bbl; excluding the effect of commodity derivatives), and Natural Gas stood …