07:41 AM EST, 11/13/2024 (MT Newswires) -- Coterra Energy ( CTRA ) said Wednesday it has signed two separate agreements to acquire certain assets of Franklin Mountain Energy and Avant Natural Resources for a total consideration of $3.95 billion.

The total consideration consists of $2.95 billion in cash and $1 billion in Coterra stock. The cash portion of the acquisition will be funded from available funds and borrowings, the company said.

The deals are set to close in Q1. Neither deal is conditioned on the closing of the other deal.

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