Douglas George Blyth Leggate's questions to Coterra Energy Inc (CTRA) leadership • Q1 2025
Question
Douglas George Blyth Leggate from Bank of America inquired about the Harkey shale operational issue, asking for clarification on its nature, its impact on long-term inventory depth, and how the resulting change in activity affects the company's previously stated three-year growth plan.
Answer
Chairman, CEO and President Thomas Jorden stated the issue is a localized, solvable mechanical problem related to cementing, not a reservoir or inventory issue, and affirmed the three-year plan remains intact. SVP of Operations Blake Sirgo added that while surprising, the issue is not ubiquitous, and the team is deploying various solutions to fix it and move forward.