Thomas Jorden on corporate strategy
From Coterra CEO discusses stock buyback program and future of U.S. liquefied natural gas exports · · CNBCTelevision
“We believe in our story, we believe in the future, we believe in the power of our ability to sustain it and we look at intrinsic and relative value.”
On , Thomas Jorden, Chief Executive Officer, President & Chairman at Coterra Energy Inc, spoke about corporate strategy during Coterra CEO discusses stock buyback program and future of U.S. liquefied natural gas exports on CNBCTelevision.
About Thomas Jorden
In March 2024, Jorden discussed Coterra's strategy of maintaining flexibility to pivot capital between oil and gas assets, describing the company as "nimble" and designed to move capital between bases in short order. He stated that Coterra manages by capital allocation rather than production growth alone, and noted the company planned a single-digit production decline of five to six percent for the year while retaining contingency plans to ramp up. Jorden said the company had looked at potential mergers but felt "pretty comfortable" with its current position given its low cost of supply and ability to execute. In a March 2022 appearance, Jorden said Coterra was investing less than 35% of its cash flow in its capital program and had authorized a stock buyback, describing the decision as "not a very difficult decision" given the company's cash and dividend capacity. He called natural gas "an amazing resource" for the U.S. and said the ability of U.S. producers to supply the global LNG market is "second to none," while adding that the industry needs "cooperation out of policy makers" to build pipelines and fast-track terminals.
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