Coterra plans to reduce natural gas production in 2022 in favor of oil, NGLs

Coterra – formerly Cabot Oil & Gas and Cimarex – will scale back natural gas production slightly in 2022 compared to 2021 levels in favor of oil and NGLs as part of the company’s efforts to maximize free cash flow, executives said in its fourth-quarter earnings call Feb. 24. CFO Scott Schroeder outlined expectations that Coterra’s gas production would fall…