Form SD - Specialized disclosure report

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM SD

SPECIALIZED DISCLOSURE REPORT

COTERRA ENERGY INC.

(Exact name of the registrant as specified in its charter)

Delaware

(State or other jurisdiction of

incorporation or organization)

1-10447

(Commission File Number)

04-3072771

(I.R.S. Employer

Identification No.)

Three Memorial City Plaza,

840 Gessner Road, Suite 1400, Houston, Texas 77024

(Address of principal executive offices, including ZIP code)

Todd M. Roemer

Vice President and Chief Accounting Officer

(281) 589-4600

(Name and telephone number, including area code, of the person to contact in connection with this report.)

Check the appropriate box to indicate the rule pursuant to which this Form is being submitted, and provide the period to which the information in this Form applies:

☐ Rule 13p-1 under the Securities Exchange Act (17 CFR 240.13p-1) for the reporting period from January 1 to December 31, _________.

☒ Rule 13q-1 under the Securities Exchange Act (17 CFR 240.13q-1) for the fiscal year ended December 31, 2023.

Section 2 — Resource Extraction Issuer Disclosure

Item 2.01 Resource Extraction Issuer Disclosure and Report

Disclosure of payments by resource extraction issuers.

Coterra Energy Inc. is an independent oil and gas company engaged in the development, exploration and production of oil, natural gas and natural gas liquids in the continental U.S. The payment disclosure required by this Form SD is included as Exhibit 2.01 hereto.

Section 3 — Exhibits

Item 3.01 Exhibits


Exhibit No.						Description
2 .0 1						Disclosure of payments by resource extraction issuer for the fiscal year ended December 31, 2023

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the duly authorized undersigned.

COTERRA ENERGY INC.

(Registrant)


September 26, 2024	By:	/s/ TODD M. ROEMER
		Todd M. Roemer
		Vice President and Chief Accounting Officer

Exhibit 2.01

COTERRA ENERGY INC.

Disclosure of Payments by Resource Extraction Issuer

For the fiscal year ended December 31, 2023

Resource Extraction Payment Report

Coterra Energy Inc. (the “Company”) has prepared the following consolidated report (the “Report”) on payments for the purpose of commercial development of oil, natural gas and natural gas liquids (“NGLs”) in accordance with Rule 13q-1 (17 CFR 240.13q-1) under the Securities Exchange Act of 1934, as amended, and Form SD (the “Rule”).

Payments

In accordance with the Rule, payments are reported on a cash basis according to the year in which the payment was made (rather than on an accrual basis). Any refunds are also reported according to the year in which they were received by the Company. Payments made as a single payment or as part of a series of related payments within the fiscal year exceeding $100,000 are included in this Report.

Payments made to the U.S. Government (as defined below) in connection with joint ventures are included in this Report, to the extent that the Company made the relevant payment. Such payments are reported in full, whether made in the Company’s sole capacity or in the Company’s capacity as the operator of a joint venture. Where the Company is a partner in a joint venture and the role of operator is performed by a joint venture partner, meaning the Company has the role of non-operator, payments made to the U.S. Government by the partner entity are not included in this Report.

Currency

All payments are reported in U.S. dollars.

Government-level payments

As used herein, the term “U.S. Government” means the Federal Government of the Unites States of America, and includes all departments and agencies that are subsidiary undertakings which are controlled by such authority, such as interstate entities. For the purposes of this Report, the Company has disclosed payments to the U.S. Government by each agency or department paid.

Project-level payments

For the purposes of this Report, the Company has disclosed payments to the U.S. Government by state jurisdiction, which includes New Mexico, Oklahoma, Pennsylvania, and Wyoming. The resources being extracted are oil, natural gas and NGLs, all with the extraction method by well. Obligations levied at the entity level rather than on a particular project, such as corporate income taxes, are disclosed as entity level (United States - Corporate) payments.

Other considerations

The payments shown in this Report are reported in thousands of dollars. Due to rounding, some totals in the following tables may not agree exactly with the sum of their component parts.

Payment Overview

The tables below show the relevant payments made by the Company to the U.S. Government during the fiscal year ended December 31, 2023, by payment type.

Of the eight payment types required by the Rule, relevant payments include taxes, royalties, and fees. The Company did not pay any relevant production entitlements, bonuses, dividends, payments for infrastructure improvements, or community and social responsibility payments that were required by law or contract.

2023 GOVERNMENT-LEVEL PAYMENTS

United States


(In thousands)
AGENCY/DEPARTMENT	Taxes		Royalties		Fees		Total
Bureau of Land Management	$	—	$	—	$	759	$	759
Susquehanna River Basin Commission	—		—		636		636
U.S. Department of the Interior - Office of Natural Resources Revenue	—		172,489		149,810		322,299
U.S. Department of the Treasury - Internal Revenue Service	347,987		—		—		347,987
Total	$	347,987	$	172,489	$	151,205	$	671,681

2023 PROJECT-LEVEL PAYMENTS

United States


(In thousands)
PROJECT	Taxes		Royalties		Fees		Total
New Mexico	$	—	$	167,567	$	3,538	$	171,105
Oklahoma	—		4,921		147,017		151,938
Pennsylvania	—		—		636		636
Wyoming	—		1		14		15
United States (Corporate)	347,987		—		—		347,987
Total	$	347,987	$	172,489	$	151,205	$	671,681

2023 PAYMENT DETAILS DISCLOSURE

United States

(In thousands)

Payment

Agency/Department

Project

Resource

Extraction Method

Type

Amount

Bureau of Land Management

New Mexico

Oil, natural gas and NGLs

Well

Fees

579

Bureau of Land Management

Oklahoma

Oil, natural gas and NGLs

Well

Fees

180

Susquehanna River Basin Commission

Pennsylvania

Natural gas

Well

Fees

636