Coterra Energy also holds Permian Basin properties with approximately 306,000 net acres and Anadarko Basin properties located in Oklahoma with approximately 182,000 net acres. In addition, it operates natural gas and saltwater disposal gathering systems in Texas. The company sells its natural gas to industrial customers, local distribution companies, oil and gas marketers, major energy companies, pipeline companies and power generation facilities.
As of December 31, 2021, it had proved reserves of approximately 2,892,582 thousand barrels of oil equivalent, which include 189,429 thousand barrels of oil and other liquid hydrocarbons, 14,895 billion cubic feet of natural gas and 220,615 thousand barrels of NGLs.
Shareholders receive a 5.52% dividend. Wells Fargo’s $46 target price on Coterra Energy stock is a Wall Street high. The consensus target is $36.92, and shares closed on Wednesday at $29.10.
EQT
This company is the largest natural gas producer in the Appalachian Basin. EQT Corp. (NYSE: EQT) operates as a natural gas production company in the United States. It also produces NGLs and crude oil. As of December 31, 2021, it had 25.0 trillion cubic feet of proved natural gas, NGLs and crude oil reserves across approximately 2.0 million gross acres, including 1.7 million gross acres in the Marcellus play.
With more than 128 years of experience, EQT continues to be a leader in the use of advanced horizontal drilling technology. This technology is designed to minimize the potential impact of drillingelated activities and reduce the overall environmental footprint.
EQT announced this week it will pay $2.6 billion in cash and about $2.6 billion in stock for THQ Appalachia, which is owned by privately held natural gas producer Tug Hill and has net production of around 760 million cubic feet per day. The deal will add an estimated 800 million cubic feet per day of gas equivalent production, EQT said, adding it also will acquire assets of XcL Midstream, a pipeline operator that moves THQ Appalachia’s gas to market, as part of the transaction. The transaction is expected to close in the fourth quarter of 2022, with an effective date of July 1, 2022.
The dividend yield is 1.3%. The Wells Fargo price target is $62, while the consensus target is $59.10. EQT stock closed at $46.00 on Wednesday.
Kinder Morgan
This is one of the largest natural gas infrastructure companies in the world. Kinder Morgan Inc. (NYSE: KMI) operates through the following segments.
The Natural Gas Pipelines segment owns and operates interstate and intrastate natural gas pipelines and underground storage systems; natural gas gathering systems and natural gas processing and treating facilities; NGLs fractionation facilities and transportation systems; and LNG liquefaction and storage facilities.
The Products Pipelines segment owns and operates refined petroleum products and crude oil and condensate pipelines, as well as associated product terminals and petroleum pipeline transmix facilities.
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