Coterra Energy Inc. (CTRA) Q1 2025 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:04.296 Thank you, Kayla. Good morning, and thank you for joining Cotera Energy's first quarter 00:00:04.296 -- 00:00:09.442 2025 earnings conference call. Today's prepared remarks will include an overview from 00:00:09.442 -- 00:00:14.648 Tom Jordan, Chairman, CEO, and President, Shane Young, Executive Vice President 00:00:14.648 -- 00:00:16.571 and CFO, 00:00:16.571 -- 00:00:19.654 and Blake Sergo, Senior Vice President of Operations. 00:00:19.654 -- 00:00:24.140 Michael DeShazer, Senior Vice President of Business Units, is also in the room. 00:00:24.140 -- 00:00:28.583 Following our prepared remarks, we will take your questions during our Q&A session. 00:00:28.583 -- 00:00:32.609 As a reminder, on today's call, we will make forward-looking statements based on our 00:00:32.609 -- 00:00:37.536 current expectations. Additionally, some of our comments will reference non-GAAP financial 00:00:37.536 -- 00:00:42.183 measures, forward-looking statements and other disclaimers, as well as reconciliations 00:00:42.183 -- 00:00:46.930 to the most directly comparable GAAP financial measures were provided in our earnings 00:00:46.930 -- 00:00:51.677 release and updated investor presentation, both of which can be found on our website. 00:00:51.677 -- 00:00:53.821 With that, I'll turn the call over to Tom. 00:00:53.821 -- 00:00:57.997 Thank you, Dan, and thank you for all of you who are joining us on this call. 00:00:57.997 -- 00:01:02.463 Cotera had an excellent first quarter. We delivered oil production near the high end 00:01:02.463 -- 00:01:07.209 of our guidance and natural gas production that exceeded the high end of our guidance. 00:01:07.209 -- 00:01:10.473 CapEx came in near the low end of our guidance. 00:01:10.473 -- 00:01:15.459 Furthermore...