HOUSTON, Oct. 4, 2021 /PRNewswire/ -- Coterra
Energy Inc. ("Coterra" or the "Company") (NYSE:
CTRA) today announced that its Board of Directors has
declared a special cash dividend of $0.50 per share payable on October 22, 2021, to shareholders of record as of
the close of business on October 14,
2021.
Thomas E. Jorden, Chief Executive
Officer, President and Director of Coterra, said, "This special
cash dividend reflects Coterra's commitment to delivering
peer-leading capital returns to shareholders. Building on our
strong balance sheet, our flexibility to allocate capital across
premier oil and natural gas assets and our proven ability to
operate efficiently, Coterra is poised to continue meeting our
capital return commitments across commodity price cycles and
creating enhanced shareholder value."
About Coterra Energy
Coterra is a premier, diversified energy company based in
Houston, Texas. We strive to be a
leading producer, delivering returns with a commitment to
sustainability leadership. Learn more about us at
www.coterra.com.
Cautionary Statement Regarding Forward-Looking
Information
This press release contains certain forward-looking statements
within the meaning of federal securities laws. Words such as
anticipates, believes, expects, intends, plans, outlook, will,
should, may and similar expressions may be used to identify
forward-looking statements. Forward-looking statements are not
statements of historical fact and reflect Coterra's current views
about future events. Such forward-looking statements include, but
are not limited to, statements about returns to shareholders and
enhanced shareholder value. No assurances can be given that the
forward-looking statements contained in this press release will
occur as projected and actual results may differ materially from
those projected. Forward-looking statements are based on current
expectations, estimates and assumptions that involve a number of
risks and uncertainties that could cause actual results to differ
materially from those projected. These risks and uncertainties
include, without limitation, the risk that the recently combined
businesses will not integrate successfully; the risk that the cost
savings and any other synergies may not be fully realized or may
take longer to realize than expected; the effect of future
regulatory or legislative actions, including the risk of new
restrictions with respect to well spacing, hydraulic fracturing,
natural gas flaring or other oil and natural gas development
activities; disruption from the transaction making it more
difficult to maintain relationships with customers, employees or
suppliers; the diversion of management time on integration-related
issues; the volatility in commodity prices for crude oil and
natural gas; the continuing effects of the COVID-19 pandemic and
the impact thereof on the combined business, financial condition
and results of operations; actions by, or disputes among or
between, the Organization of Petroleum Exporting Countries and
other producer countries; the presence or recoverability of
estimated reserves; the ability to replace reserves; environmental
risks; drilling and operating risks; exploration and development
risks; competition; the ability of management to execute its plans
to meet its goals; and other risks inherent in Coterra's
businesses. In addition, the declaration and payment of any future
dividends, whether regular base quarterly dividends, variable
dividends or special dividends, will depend on Coterra's financial
results, cash requirements, future prospects and other factors
deemed relevant by Coterra's board of directors. While the list of
factors presented here is considered representative, no such list
should be considered to be a complete statement of all potential
risks and uncertainties. Should one or more of these risks or
uncertainties materialize, or should underlying assumptions prove
incorrect, actual outcomes may vary materially from those
indicated. For additional information about other factors that
could cause actual results to differ materially from those
described in the forward-looking statements, please refer to: (1)
Coterra's annual reports on Form 10-K, quarterly reports on Form
10-Q, current reports on Form 8-K and other filings with the SEC,
which are available on Coterra's website at www.coterra.com.
Forward-looking statements are based on the estimates and
opinions of management at the time the statements are made. Except
to the extent required by applicable law, Coterra does not
undertake any obligation to publicly update or revise any
forward-looking statement, whether as a result of new information,
future events or otherwise. Readers are cautioned not to place
undue reliance on these forward-looking statements that speak only
as of the date hereof.
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SOURCE Coterra Energy Inc.
