Coterra Energy Inc. has made a significant purchase in the Permian Basin, acquiring assets worth $3.95 billion from Franklin Mountain Energy and Avant Natural Resources.
This move demonstrates Coterra's commitment to expanding its presence in one of the most productive oil-producing regions in the United States. The acquisition will be funded with a combination of $2.95 billion in cash and $1 billion in stock. This reflects the ongoing trend of consolidation in the energy industry as companies aim to improve their operational capabilities and resource portfolios.