Capital SpendingCTRA reduced capital spending for the Appalachia in March, and further deferred 12 TILs from 1Q24 to later this year.
EarningsExpect a modest 7% miss on EBITDA from CTRA despite strong Permian operations given natural gas price weakness.
Stock PerformanceDespite this, the stock is up 'only' ~10% YTD, lagging oil peers (up ~15-20% on average) and gassy peers (up ~20-25% on average).