Coterra Energy Inc., one of the firms active in Oklahoma’s Anadarko Basin, announced it closed on a $3.9 billion acquisition of some Permian Basin assets of Franklin Mountain Energy and Avant Natural Resources.
“Through the hard work of Franklin Mountain Energy, Avant Natural Resources, and the Coterra team, we are pleased to have closed the two previously announced acquisitions on schedule,” said Tom Jorden, Chairman, CEO, and President of Coterra.
“We expect to immediately hit the ground running and, in coordination with our year-end 2024 earnings release in February, we are excited to share our 2025 formal guidance as well as an updated three-year outlook.”
These assets strengthen the company’s portfolio in Lea County, New Mexico adding approximately 49,000 highly contiguous net acres and 400 to 550 net locations, primarily targeting Bone Spring formations, with additional upside potential.
Based in Houston, Coterra has operations in the Permian Basin, Marcellus Shale and the Anadarko Basin.