Expand Energy Corporation Reports Fourth Quarter and Full-Year 2024 Results, Issues 2025 Outlook

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]. Financial Performance - In Q4 2024, Expand Energy generated net cash from operating activities of $382 million and reported a net loss of$399 million, equating to $1.72 per fully diluted share. Adjusted net income was$131 million, or $0.55 per share, with adjusted EBITDAX of$964 million [10]. - Total revenues for Q4 2024 were $2.001 billion, compared to$1.948 billion in Q4 2023, while total revenues for the year ended December 31, 2024, were $4.235 billion, down from$8.721 billion in 2023 [21]. 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]. - The company plans to maintain approximately 12 rigs in 2025, with an expected daily production of around 7.1 Bcfe/d, and aims to increase productive capacity by running about 15 rigs in the latter half of the year [7]. Synergy and Capital Outlook - Expand Energy has increased its expected annual synergy target for 2025 by $175 million to approximately$400 million, with a total target of $500 million in annual synergies expected by the end of 2026 [8]. - The company plans to invest approximately$2.7 billion in 2025, with an additional $300 million allocated to build incremental productive capacity [7]. Shareholder Returns - The company announced a quarterly base dividend of$0.575 per common share, marking the 16th consecutive quarter of dividend payments [10]. - Expand Energy enhanced its capital return framework in 2024 to more efficiently return cash to shareholders and reduce net debt, with plans to allocate $500 million to net debt reduction in 2025 [11].