Kimmeridge, which owns a little over 1% of Coterra Energy’s (CTRA) outstanding shares, is preparing to nominate Scott Sheffield, the former CEO Pioneer Natural Resources, to join the company’s board, Benoit Morenne of Wall Street Journal reports, citing people familiar with the matter. Kimmeridge has been seeking new leadership at Coterra and thinks the company should sell its natural-gas operations to focus on its crude business in the Permian Basin, the Journal says.
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