Coterra Energy Enters Material Definitive Agreement
Ticker: CTRA · Form: 8-K · Filed: Sep 12, 2024 · CIK: 858470
Sentiment: neutral
Topics: material-agreement, financial-obligation
TL;DR
Coterra Energy just signed a big financial deal, details TBD.
AI Summary
On September 12, 2024, Coterra Energy Inc. entered into a material definitive agreement related to a financial obligation. The filing does not specify the counterparty or the exact nature of the agreement, but it is classified as a direct financial obligation or an off-balance sheet arrangement.
Why It Matters
This filing indicates Coterra Energy Inc. has entered into a significant financial agreement, which could impact its financial obligations and future operations.
Risk Assessment
Risk Level: medium — The filing indicates a material definitive agreement and a direct financial obligation, suggesting potential financial commitments or risks that are not yet fully disclosed.
Key Players & Entities
- Coterra Energy Inc. (company) — Registrant
- September 12, 2024 (date) — Date of Report
- Delaware (jurisdiction) — State of Incorporation
- 1-10447 (company_id) — Commission File Number
- 04-3072771 (tax_id) — I.R.S. Employer Identification No.
- Three Memorial City Plaza (address) — Principal Executive Offices
- 840 Gessner Road, Suite 1400 (address) — Principal Executive Offices
- Houston, Texas 77024 (address) — Principal Executive Offices
- CABOT OIL & GAS CORP (company) — Former Company Name
- 19920703 (date) — Date of Former Company Name Change
FAQ
What is the specific nature of the material definitive agreement entered into by Coterra Energy Inc. on September 12, 2024?
The filing states that Coterra Energy Inc. entered into a material definitive agreement, but the specific details of the agreement are not provided in this excerpt.
What type of financial obligation does the agreement represent for Coterra Energy Inc.?
The agreement is described as a direct financial obligation or an obligation under an off-balance sheet arrangement of the registrant.
When was Coterra Energy Inc. incorporated, and in which jurisdiction?
Coterra Energy Inc. was incorporated in Delaware.
What is Coterra Energy Inc.'s former company name and when did that name change occur?
Coterra Energy Inc.'s former company name was CABOT OIL & GAS CORP, and the date of the name change was July 3, 1992.
What is the principal executive office address for Coterra Energy Inc.?
The principal executive office address is Three Memorial City Plaza, 840 Gessner Road, Suite 1400, Houston, Texas 77024.
Filing Stats: 690 words · 3 min read · ~2 pages · Grade level 11.1 · Accepted 2024-09-12 16:53:39
Key Financial Figures
- $0.10 — ch registered Common Stock, par value $0.10 per share CTRA New York Stock Exchang
- $1.5 billion — itments under the Credit Agreement from $1.5 billion to $2.0 billion, (ii) extended the Cred
- $2.0 b — e Credit Agreement from $1.5 billion to $2.0 billion, (ii) extended the Credit Agreeme
Filing Documents
- tm2423362d1_8k.htm (8-K) — 25KB
- tm2423362d1_ex10-1.htm (EX-10.1) — 895KB
- 0001104659-24-099359.txt ( ) — 1290KB
- ctra-20240912.xsd (EX-101.SCH) — 3KB
- ctra-20240912_lab.xml (EX-101.LAB) — 33KB
- ctra-20240912_pre.xml (EX-101.PRE) — 22KB
- tm2423362d1_8k_htm.xml (XML) — 4KB
01 Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement. On September 12, 2024, Coterra Energy Inc. (the "Company") entered into an Amendment No. 1 (the "Amendment") to that certain Credit Agreement, dated as of March 10, 2023, with JPMorgan Chase Bank, N.A., as administrative agent (the "Administrative Agent"), and certain lenders and issuing banks party thereto (as amended by the Amendment, and as further amended, supplemented or otherwise modified from time to time, the "Credit Agreement"). The Amendment, among other things, (i) increased the aggregate revolving commitments under the Credit Agreement from $1.5 billion to $2.0 billion, (ii) extended the Credit Agreement's maturity date from March 10, 2028 to September 12, 2029, (iii) made certain amendments to the representations and warranties, affirmative and negative covenants and events of default and (iv) made certain other modifications to the Credit Agreement as further set forth therein. Many of the lenders under the Credit Agreement, their affiliates, or combination thereof have in the past performed, and may in the future from time to time perform, investment banking, financial advisory, lending and commercial banking services, or other services for the Company and its subsidiaries (including in connection with the transactions described in this Form 8-K), for which they have received, and may in the future receive, customary compensation and expense reimbursement. The foregoing summaries and descriptions of the Credit Agreement and the Amendment do not purport to be complete and are qualified in their entirety by reference to the full text of the Amendment attached hereto as Exhibit 10.1 and incorporated herein by reference. Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. The information provided in
01 above is incorporated herein by reference
Item 1.01 above is incorporated herein by reference. Item 9.01 Financial Statements and Exhibits. (d) Exhibits 10.1 First Amendment to Credit Agreement, dated as of September 12, 2024, among the Company, as Borrower, JPMorgan Chase Bank, N.A., as Administrative Agent, and the Lenders and Issuing Banks party thereto. 104 Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101). SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. COTERRA ENERGY INC. By: /s/ Marcus G. Bolinder Marcus G. Bolinder Corporate Secretary Date: September 12, 2024