Coterra Energy Inc. is among a handful of oil and gas companies planning to produce more oil this year—more than originally planned.
The company joined EOG Resources and Civitas Resources Inc. in admitting such plans, a move seen by some that could see the U.S. supply of oil being larger than expected. The three oil producers believe their performances in the Permian Basin are stronger-than-expected.
Others making similar recent announcements of expanded production include Ovintiv Inc., a firm active in Oklahoma, along with Matador Resources Co. reported Bloomberg.
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