Coterra raises rig plans in the Permian

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Coterra will run 9 rigs in the Permian Basin in the second half of 2025, two more than the number executives had planned to in early May.

Coterra Energy Inc., Houston, will run nine rigs in the Permian basin during the second half of this year, two more than the number executives had planned to in early May.

Speaking at the JPMorgan Energy, Power, Renewables & Mining Conference in New York, Coterra chairman, president and chief executive officer Tom Jorden said June 24 that going with nine rigs reflects his team’s confidence in the stability of the oil market, which had looked like it was struggling this spring.

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Source: Oil & Gas Journal

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