- Coterra Energy press release ( NYSE: CTRA ): Q2 Non-GAAP EPS of $1.35 beats by $0.07 .
- Discretionary cash flow totaled $1,493 million (non-GAAP).
- Generated free cash flow of $1,019 million (non-GAAP).
- Production: Total equivalent production of 632 MBoepd (thousand barrels of oil equivalent per day), exceeding the high-end of guidance.
- Natural gas production averaged 2,790 MMcfpd (million cubic feet per day), exceeding the high-end of guidance.
- Oil production averaged 88.2 MBopd (thousand barrels of oil per day), exceeding the high-end of guidance.
- Updated Outlook: "Our revised 2022 capital program is expected to be $1,600 to $1,700 million, 10 percent above the high-end of our initial guidance range. The increase is due to inflation and a modest increase in activity. Our new capital guidance assumes we will invest less than 30 percent of our 2022 projected cash flow from operating activities, at recent strip prices," the company statement
- Increased Production Guidance : Total Equivalent Production (MBoepd): 615 to 635, up one percent at the midpoint from 600 to 635 MBoepd
- Oil (MBopd): 85.5 to 87.5, up four percent at the midpoint from 81.0 to 86.0 MBopd
- Natural Gas (MMcfpd): 2,750 to 2,825, up one percent at the midpoint from 2,680 to 2,850 MMcfpd
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Coterra Energy Non-GAAP EPS of $1.35 beats by $0.07