Marcellus Formation

Coterra Energy Reports Fourth-Quarter and Full-Year 2023 Results, Provides 2024 Outlook, and Announces Dividend Increase

Retrieved on: 
Thursday, February 22, 2024
Oil, Gas, Energy, Permian, Free cash flow, Share repurchase, Form 10-K, Investment, Transport, Natural gas, Growth, Nature, Atlas, Annual report, GAAP, Webcast, Public expenditure, CapeNature, G&A, Marcellus Formation, Estimation

Coterra Energy Inc. (NYSE: CTRA) (“Coterra” or the “Company”) today reported fourth-quarter and full-year 2023 results, provided first-quarter and full-year 2024 guidance and released a new three-year outlook for 2024 through 2026.

Key Points: 
  • Coterra Energy Inc. (NYSE: CTRA) (“Coterra” or the “Company”) today reported fourth-quarter and full-year 2023 results, provided first-quarter and full-year 2024 guidance and released a new three-year outlook for 2024 through 2026.
  • As we look ahead, our 2024 capital plan underscores Coterra’s ability to pivot capital as fundamentals in the commodity markets dictate.
  • Common Dividend: On February 22, 2024, Coterra's Board of Directors (the "Board") approved a quarterly base dividend of $0.21 per share, which is a 5% increase year-over-year.
  • The dividend will be paid on March 28, 2024 to holders of record on March 14, 2024.

WhiteHawk Energy Announces $54 Million Acquisition of Core Marcellus Shale Natural Gas Mineral and Royalty Assets

Retrieved on: 
Wednesday, November 15, 2023
Energy, Natural Resources, Mining, Minerals, Oil, Gas, EQT, Acquisition, NYSE, Range Resources, Public expenditure, RRC, Chesapeake Energy, CNX Resources, CNX, Haynesville Shale, Marcellus Formation, Southwestern Energy

WhiteHawk Energy, LLC (“WhiteHawk” or the “Company”) announced today the acquisition of additional Marcellus Shale natural gas mineral and royalty assets for a total purchase price of $54.0 million.

Key Points: 
  • WhiteHawk Energy, LLC (“WhiteHawk” or the “Company”) announced today the acquisition of additional Marcellus Shale natural gas mineral and royalty assets for a total purchase price of $54.0 million.
  • The acquisition increases WhiteHawk’s mineral and royalty ownership in its existing 475,000 gross acre position by 100% (collective with WhiteHawk’s existing position, the “Marcellus Assets”).
  • Earlier in 2023, WhiteHawk acquired natural gas mineral and royalty assets in the Haynesville Shale, covering approximately 375,000 gross unit acres.
  • The Company’s Haynesville Shale assets are actively being developed by Southwestern Energy, Chesapeake Energy, Aethon Energy Management and Comstock Resources.

ECA Marcellus Trust I Announces Quarterly Distribution

Retrieved on: 
Thursday, November 9, 2023
Oil, Gas, Energy, Sale, ECI, Disclosure, Security (finance), OTC Markets Group, Annual report, Treasury regulations, Internal Revenue Code, ECA, Internet, Treasury, COVID-19, Natural gas, Trustee, Tax, IRC, Partnership, TCJA, Marcellus Formation, Trust

Cash held in reserve will be invested as required by the trust agreement.

Key Points: 
  • Cash held in reserve will be invested as required by the trust agreement.
  • The Trust is entitled to receive certain amounts of the proceeds attributable to Greylock’s interest in the sale of production from the properties.
  • The anticipated distribution is based, in part, on the amount of cash received or expected to be received by the Trust from Greylock with respect to the relevant quarterly period.
  • The Trust's annual, quarterly and other filed reports are or will be available over the Internet at the SEC's web site at http://www.sec.gov .

Northeast Natural Energy Marcellus Production Reverified by Equitable Origin

Retrieved on: 
Thursday, November 30, 2023
Human rights, Safety, Equitable, Ethics, Culture, Marcellus Formation, NNE, Letter, Certification, EO, ESG, Management, Audit

MORGANTOWN, W.Va., Nov. 30, 2023 /PRNewswire/ -- Northeast Natural Energy (NNE), a West Virginia-based Marcellus Shale natural gas producer, has just become the first producer globally to receive an "A" letter grade from Equitable Origin (EO) for the ESG performance of its West Virginia assets. This was the result of a voluntary reverification audit conducted by Responsible Energy Solutions LLC in 2023.

Key Points: 
  • MORGANTOWN, W.Va., Nov. 30, 2023 /PRNewswire/ -- Northeast Natural Energy (NNE), a West Virginia-based Marcellus Shale natural gas producer, has just become the first producer globally to receive an "A" letter grade from Equitable Origin (EO) for the ESG performance of its West Virginia assets.
  • This was the result of a voluntary reverification audit conducted by Responsible Energy Solutions LLC in 2023.
  • "Northeast Natural Energy is committed to the continuous improvement of every aspect of our business, and I am very proud of our team and the work they have done to receive this high grade on our company's overall performance within the EO100™ framework," said Mike John, president and CEO, Northeast Natural Energy.
  • "Having completed our third annual assessment for Northeast Natural Energy, our team has seen continuous improvement that reflects a culture of excellence at NNE," said Roy Hartstein, founder and president, Responsible Energy Solutions LLC.

ECA Marcellus Trust I Announces There Will Be No Quarterly Distribution

Retrieved on: 
Monday, August 14, 2023
Oil, Gas, Energy, OTC Markets Group, ECA, IRC, Partnership, COVID-19, Disclosure, Treasury regulations, TCJA, ECI, Speaker of the House of Commons (United Kingdom), Sale, Internal Revenue Code, Treasury, Internet, Annual report, Natural gas, Tax, Security (finance), Trustee, Tax Cuts and Jobs Act of 2017, Life insurance, Trust, Marcellus Formation

Cash held in reserve will be invested as required by the trust agreement.

Key Points: 
  • Cash held in reserve will be invested as required by the trust agreement.
  • The Trust is entitled to receive certain amounts of the proceeds attributable to Greylock’s interest in the sale of production from the properties.
  • The anticipated distribution is based, in part, on the amount of cash received or expected to be received by the Trust from Greylock with respect to the relevant quarterly period.
  • The Trust's annual, quarterly and other filed reports are or will be available over the Internet at the SEC's web site at http://www.sec.gov .

Dawood Engineering Expands Key Leadership Roles, Heightens Market Sector Focus

Retrieved on: 
Tuesday, August 15, 2023
Pennsylvania Department of Transportation, Area studies, Vice, PE, Future City, RNG, Carbon, Marcellus Formation, College of Engineering (KNUST), Natural gas, Society, Safety, Management, Renewable energy, David in Islam, Decker, Transport

HARRISBURG, Pa., Aug. 15, 2023 /PRNewswire-PRWeb/ -- Dawood, an international engineering and technology firm has evolved its leadership team. Nicholas (Nick) Brien, PE, is now Executive Vice President and Vice President Chad Decker, PE, PTOE, and Director Kevin Rucker assume market lead roles for transportation and oil & gas clients, respectively.

Key Points: 
  • Brien, Decker, and Rucker are people leaders and accredited practitioners in dozens of states throughout the U.S.
    HARRISBURG, Pa., Aug. 15, 2023 /PRNewswire-PRWeb/ -- Dawood, an international engineering and technology firm has evolved its leadership team.
  • Nicholas (Nick) Brien, PE, is now Executive Vice President and Vice President Chad Decker, PE, PTOE, and Director Kevin Rucker assume market lead roles for transportation and oil & gas clients, respectively.
  • He oversees Dawood's structural engineering and geotechnical groups focused on bridges, vertical structures, and PennDOT asset management.
  • Expanded 2023 roles for Brien, Decker, and Rucker continue the leadership evolution for Dawood, also welcoming Diana Tucker Harrison as chief financial officer in January.

WhiteHawk Energy Announces $100 Million Acquisition Finance Facility With Top Tier Institution to Accelerate Its Acqusition of Core Natural Gas Mineral and Royalty Assets

Retrieved on: 
Monday, August 7, 2023
Energy, Natural Resources, Mining, Minerals, Oil, Gas, Partnership, Institution, Range Resources, CNX Resources, Marcellus Formation, Chesapeake Energy, EQT, Whitehawk, Acquisition, Haynesville, Haynesville Shale, Southwestern Energy

WhiteHawk Energy, LLC (“WhiteHawk” or the “Company”) announced today entrance into a $100.0 million acquisition finance facility (the "Acquisition Facility") with a top tier institution (“Institution”).

Key Points: 
  • WhiteHawk Energy, LLC (“WhiteHawk” or the “Company”) announced today entrance into a $100.0 million acquisition finance facility (the "Acquisition Facility") with a top tier institution (“Institution”).
  • The Acquisition Facility will mature on December 31, 2025 and contains certain co-investment rights for the Institution.
  • “This is an exciting day for WhiteHawk, as we take our next big step towards being the leading natural gas mineral and royalty company in the United States.
  • There is a significant opportunity to continue to acquire natural gas mineral and royalty assets delivering consistent and growing cash flow in core basins developed by top-tier operators.

ECA Marcellus Trust I Announces Quarterly Distribution

Retrieved on: 
Thursday, May 11, 2023
Oil, Gas, Energy, OTC Markets Group, ECA, IRC, Partnership, COVID-19, Disclosure, Treasury regulations, TCJA, ECI, Speaker of the House of Commons (United Kingdom), Sale, Internal Revenue Code, Treasury, Internet, Annual report, Natural gas, Tax, Security (finance), Trustee, Tax Cuts and Jobs Act of 2017, Life insurance, Trust, Marcellus Formation

This cash is reserved to pay or provide for the payment of future known, anticipated or contingent expenses or liabilities of the Trust.

Key Points: 
  • This cash is reserved to pay or provide for the payment of future known, anticipated or contingent expenses or liabilities of the Trust.
  • The Trust is entitled to receive certain amounts of the proceeds attributable to Greylock’s interest in the sale of production from the properties.
  • The anticipated distribution is based, in part, on the amount of cash received or expected to be received by the Trust from Greylock with respect to the relevant quarterly period.
  • The Trust's annual, quarterly and other filed reports are or will be available over the Internet at the SEC's web site at http://www.sec.gov .

Range Announces CEO Retirement and Succession Plan

Retrieved on: 
Thursday, March 16, 2023
NGL, Division, Natural gas, NYSE, RRC, Pleasure, Executive, Range, Culture, Management, Marcellus Formation

In addition, Mr. Degner will be nominated for election to the Company’s Board of Directors.

Key Points: 
  • In addition, Mr. Degner will be nominated for election to the Company’s Board of Directors.
  • He has played a key role in Range’s growth and success over the past decade and is the right leader at the right time for Range,” said Ventura.
  • “Jeff will leave Range with the strongest balance sheet in company history, record free cash flow, and a business that is well-positioned to generate shareholder returns.
  • This succession plan is a testament to the strong culture at Range, and we are excited to promote our next CEO from within the Company’s existing leadership team.

Coterra Energy Reports Fourth-Quarter and Full-Year 2022 Results, Provides 2023 Outlook and Updates Shareholder Return Strategy

Retrieved on: 
Wednesday, February 22, 2023
Oil, Gas, Energy, Permian, Anadarko Basin, Natural gas, Progress Energy Inc, Cabot, Public expenditure, Atkinson Center for a Sustainable Future, CapeNature, Marcellus Formation, NYSE, Estimation, Yoy, GAAP, Share repurchase, Webcast, Marketing Accountability Standards Board, Free cash flow, Growth, Atlas, Calendar, Cryptocurrency, Video game, Commercial property, Bank, Cardboard, Holding company, Renting, Renewable energy, Coterra

Coterra Energy Inc. (NYSE: CTRA) (“Coterra” or the “Company”) today reported fourth-quarter and full-year 2022 financial and operating results.

Key Points: 
  • Coterra Energy Inc. (NYSE: CTRA) (“Coterra” or the “Company”) today reported fourth-quarter and full-year 2022 financial and operating results.
  • Adjusted net income (non-GAAP) for fourth-quarter 2022, excluding non-recurring items, was $905 million, or $1.16 per share.
  • Coterra's 2022 return strategy targeted 50%+ of Free Cash Flow (non-GAAP) paid via cash dividends (base + variable).
  • Coterra will host a conference call tomorrow, Thursday, February 23, 2023, at 9:00 AM CT (10:00 AM ET), to discuss fourth-quarter and full-year 2022 financial and operating results and its 2023 outlook.