Cabot, Cimarex Emerge as Coterra Energy Following All-stock Merger

Coterra Energy, to be headquartered in Houston, was previously estimated to have an enterprise value of approximately $17 billion with a top tier asset base across the Marcellus, Permian and Anadarko shale basins.

Cabot, Cimarex Emerge as Coterra Energy Following All-stock Merger

The Coterra name reflects “two companies coming together, combining teams and assets to create a stronger platform to deliver sustainably higher returns,” the companies said in a joint release. (Source: Coterra Energy)

Cabot Oil & Gas Corp. and Cimarex Energy Co. on Oct. 1 completed the all-stock “merger of equals” forming one of the largest U.S. shale companies with a new moniker—Coterra Energy Inc.

The Coterra name reflects “two companies coming together, combining teams and assets to create a stronger platform to deliver sustainably higher returns,” the companies said in a joint release.

“Today marks the beginning of our journey as one Coterra team,” Thomas E. Jorden, CEO, president and director of Coterra, commented in the release on Oct. 1. “We couldn’t be more excited to bring together our teams and form a new E&P company that is positioned to succeed in the next phase of the shale revolution and beyond.” 

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Emily Patsy

Emily Patsy is the senior managing editor for Hart Energy’s Digital News Group. She's responsible for the daily news flow and also manages the A&D Watch and Energy Pulse weekly newsletters.