Coterra Energy Enters Material Definitive Agreement
Ticker: CTRA · Form: 8-K · Filed: Dec 17, 2024 · CIK: 858470
| Field | Detail |
|---|---|
| Company | Coterra Energy INC. (CTRA) |
| Form Type | 8-K |
| Filed Date | Dec 17, 2024 |
| Risk Level | medium |
| Pages | 4 |
| Reading Time | 5 min |
| Key Dollar Amounts | $0.10, $750,000,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-agreement, financial-obligation
TL;DR
Coterra Energy just signed a big financial deal, details to come.
AI Summary
On December 17, 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 under 'Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant'.
Why It Matters
This filing indicates Coterra Energy Inc. has entered into a significant financial commitment, which could impact its balance sheet and future financial flexibility.
Risk Assessment
Risk Level: medium — The filing indicates a material definitive agreement and a financial obligation, but lacks specific details, creating uncertainty about the associated risks.
Key Players & Entities
- Coterra Energy Inc. (company) — Registrant
- December 17, 2024 (date) — Date of Report
- Delaware (jurisdiction) — State of Incorporation
- Houston, Texas (location) — Principal Executive Offices
FAQ
What is the specific nature of the material definitive agreement entered into by Coterra Energy Inc.?
The filing does not specify the exact nature of the material definitive agreement, only that it involves the creation of a direct financial obligation or an obligation under an off-balance sheet arrangement.
Who is the counterparty to this material definitive agreement?
The filing does not disclose the name of the counterparty to the agreement.
What is the dollar amount or financial scope of this obligation?
The filing does not provide specific dollar amounts or financial details related to the obligation.
When was this agreement officially entered into?
The agreement was entered into on December 17, 2024, which is also the date of the report.
What are the implications of this 'Creation of a Direct Financial Obligation' for Coterra Energy Inc.?
This implies Coterra Energy Inc. has taken on a new financial commitment that will appear on or affect its balance sheet, the specifics of which are not detailed in this filing.
Filing Stats: 1,272 words · 5 min read · ~4 pages · Grade level 10.6 · Accepted 2024-12-17 16:39:38
Key Financial Figures
- $0.10 — ch registered Common Stock, par value $0.10 per share CTRA New York Stock Exchang
- $750,000,000 — announced registered public offering of $750,000,000 aggregate principal amount of its 5.40%
Filing Documents
- tm2431118d1_8k.htm (8-K) — 33KB
- tm2431118d1_ex4-2.htm (EX-4.2) — 322KB
- tm2431118d1_ex5-1.htm (EX-5.1) — 13KB
- tm2431118d1_ex5-1img001.jpg (GRAPHIC) — 3KB
- tm2431118d1_ex5-1img002.jpg (GRAPHIC) — 2KB
- 0001104659-24-129397.txt ( ) — 616KB
- ctra-20241217.xsd (EX-101.SCH) — 3KB
- ctra-20241217_lab.xml (EX-101.LAB) — 33KB
- ctra-20241217_pre.xml (EX-101.PRE) — 22KB
- tm2431118d1_8k_htm.xml (XML) — 4KB
01 Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement. Coterra Energy Inc. (the "Company") closed its previously announced registered public offering of $750,000,000 aggregate principal amount of its 5.40% senior notes due 2035 (the "2035 Notes") and $750,000,000 aggregate principal amount of its 5.90% senior notes due 2055 (the "2055 Notes" and, together with the 2035 Notes, the "Notes") on December 17, 2024. The 2035 Notes will mature on February 15, 2035, and the 2055 Notes will mature on February 15, 2055. The Notes were issued pursuant to an indenture, dated as of October 7, 2021 (the "Base Indenture"), by and between the Company, as issuer, and U.S. Bank Trust Company, National Association (as successor in interest to U.S. Bank National Association), as trustee (the "Trustee"), as supplemented and amended by a third supplemental indenture, dated as of December 17, 2024 (the "Third Supplemental Indenture"), by and between the Company and the Trustee. The Notes are the Company's senior unsecured obligations and rank senior in right of payment to all of the Company's future indebtedness that is expressly subordinated in right of payment to the Notes and equally in right of payment with all of the Company's existing and future senior indebtedness that is not subordinated. The Notes are structurally subordinated to all indebtedness of the Company's subsidiaries and effectively subordinated to any of the Company's future secured indebtedness to the extent of the value of the collateral securing such indebtedness. If (A)(i) the consummation of the Company's pending acquisition of all of the issued and outstanding equity Energy" and, such pending acquisition, the " Franklin Mountain Energy Transaction") , does not occur on or before the later of (a) the date that is ten business days after February 26, 2025 and (b) the date that is
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits 4.1 Indenture, dated as of October 7, 2021, by and between Coterra Energy Inc. and U.S. Bank Trust Company, National Association (as successor in interest to U.S. Bank National Association), as trustee (incorporated by reference to Exhibit 4.1 to the Company's Current Report on Form 8-K filed with the Securities and Exchange Commission on October 7, 2021) . 4.2 Third Supplemental Indenture, dated as of December 17, 2024, by and between Coterra Energy Inc. and U.S. Bank Trust Company, National Association, as trustee. 4.3 Form of 5.40% Senior Note due 2035 (included in Exhibit 4.2). 4.4 Form of 5.90% Senior Note due 2055 (included in Exhibit 4.2). 5.1 Opinion of Baker Botts L.L.P. 23.1 Consent of Baker Botts L.L.P. (included in Exhibit 5.1). 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). 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/ TODD M. ROEMER Todd M. Roemer Vice President and Chief Accounting Officer Date: December 17, 2024