Lower 48 independent Coterra Energy Inc. exceeded production guidance during the second quarter across the board – for natural gas, oil and liquids – lifted by outperformance in well results and a 9% jump in Marcellus Shale natural gas volumes.


“This beat was driven by many factors, including optimization of completions design spacing, landing zone selection and better-than-expected performance from a project of three-mile laterals,” said CEO Thomas Jorden during a call Tuesday to discuss quarterly results. 

CFO Shane Young, taking the reins from Scott Schroeder, who is retiring, said production volumes averaged 665,000 boe/d, up 5% sequentially. Natural gas volumes increased to 2.9 Bcf/d from 2.8 Bcf/d, with oil output averaging 95,800 b/d, “a new high watermark for...