Coterra Energy Increases FY24 BOE Production Guidance By 1% And Oil Production Guidance By 2.4% From Guidance Provided In May
Portfolio Pulse from Benzinga Newsdesk
Coterra Energy has increased its FY24 BOE production guidance by 1% and oil production guidance by 2.4% from its previous guidance in May. The company reiterated its 2024 capital expenditures of $1.75 to $1.95 billion and announced third-quarter 2024 production estimates.
August 01, 2024 | 8:43 pm
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Coterra Energy has increased its FY24 BOE production guidance by 1% and oil production guidance by 2.4%, which is likely to positively impact its stock price in the short term. The company also reiterated its capital expenditures and provided third-quarter production estimates.
The increase in production guidance indicates stronger operational performance and potential revenue growth, which is likely to be viewed positively by investors. The reiteration of capital expenditures provides stability and predictability in financial planning.
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