Coterra Energy Inc. (NYSE:CTRA) Barclays 38th Annual CEO Energy-Power Conference September 4, 2024 1:15 PM ET
Company Participants
Thomas Jorden - Chairman & CEO
Conference Call Participants
Wei Jiang - Barclays
Wei Jiang
Moving on to our next conversation. I'm really delighted to have Tom Jorden, Chairman, CEO of Coterra Energy to be here for our next fireside chat. Tom, thank you for being here.
Thomas Jorden
You’re welcome.
Wei Jiang
It's always great to you -- it's always a treat. Well, from my lens, really feels like operations are doing really well. Coterra -- it's -- you guys have been beating the numbers left and right by our count seven out of eight quarters, been beating oil numbers. Has that surprised you to the upside? Have you -- are you surprised by how well just operations are for me?
Thomas Jorden
Well, I'm surprised by some elements. I'm not surprised by others. We have a great operational team. We have a culture that invites and demands open collaboration. We share best practices. We want good use to spread like wildfire. But we have an organization that's really embraced that in an actionable way. We have seen some capital efficiencies though that has surprised this. We've seen well performance that exceeded our expectations. But we've also seen product -- project acceleration that's exceeded our acceleration. As we've gone to simul-frac on our largest project, we've really seen a time line accelerated and a lot of those volumes that have led to outperformance were because of increased timing. And we're still in the business where things go wrong.
I mean we've been fortunate to have a great string of just excellent operational cadence. But we don't sandbag. We really do try to update our guidance with what we think the midpoint is most
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