Core Viewpoint - Expand Energy Corporation reported strong fourth quarter results and a positive outlook for 2025, emphasizing its position as the largest gas producer in the U.S. and its commitment to providing reliable, affordable, lower carbon energy [5][9][13]. Financial Performance - In Q4 2024, Expand Energy generated net cash from operating activities of $382 million, with a net loss of $399 million or $1.72 per diluted share, while adjusted net income was $131 million or $0.55 per share [9][21]. - Total revenues for Q4 2024 were approximately $2.001 billion, compared to $1.948 billion in Q4 2023, with natural gas, oil, and NGL revenues contributing significantly [21]. - The company reported adjusted EBITDAX of $964 million for Q4 2024 [9]. Production and Operations - Expand Energy operated an average of twelve rigs in Q4 2024, drilling 44 wells and achieving net production of approximately 6.41 Bcfe per day, with 91% being natural gas [6][9]. - For 2025, the company plans to maintain approximately 12 rigs and invest around $2.7 billion, targeting an estimated daily production of approximately 7.1 Bcfe/d [7][9]. Synergy and Capital Outlook - Expand Energy increased its expected annual synergy target for 2025 by $175 million to approximately $400 million, aiming to achieve a total of $500 million in annual synergies by the end of 2026 [8][9]. - The company plans to allocate $300 million for incremental productive capacity by running approximately 15 rigs in the second half of 2025 [7][9]. Shareholder Returns - The company announced a quarterly base dividend of $0.575 per common share, marking the 16th consecutive quarter of dividend payments [9][10]. - Expand Energy intends to allocate $500 million towards net debt reduction in 2025, alongside additional free cash flow for variable dividends and share repurchases [10].
Expand Energy Corporation Reports Fourth Quarter and Full-Year 2024 Results, Issues 2025 Outlook