Core Insights - Expand Energy Corporation reported significant growth in its operations and financial performance for Q3 2025, emphasizing its commitment to providing affordable and lower carbon energy solutions [3][10][14] Operations Update - The company operated an average of 11 rigs, drilling 41 wells and turning 57 wells in line, resulting in net production of approximately 7.33 Bcfe/d, with 92% being natural gas [4][10] - Full year 2025 net production is expected to be 7.15 Bcfe/d, which is approximately 50 MMcfe/d higher than the previous guidance [6][10] Financial Performance - Net income for Q3 2025 was $547 million, or $2.28 per fully diluted share, with adjusted net income of $234 million, or $0.97 per diluted share [10][21] - The company reported total revenues of $2,966 million for Q3 2025, a significant increase from $648 million in Q3 2024 [21] Capital Expenditures and Synergies - Expand Energy anticipates capturing approximately $500 million in annual synergies in 2025, with a target of $600 million by the end of 2026 [5][10] - The company reduced its full year capital investment expectations by approximately $75 million to $2.85 billion, which includes $250 million for building productive capacity [6][10] Acquisitions and Land Position - During Q3 2025, Expand Energy acquired approximately 7,500 acres of undeveloped Core Marcellus for $57 million, adding significant development locations [7][10] - The company has established a 75,000+ net-acre position in Western Haynesville, with total land spend to date of approximately $178 million [7][10] Shareholder Returns - The company plans to allocate $500 million to net debt paydown in the second half of 2025 and will pay a quarterly base dividend of $0.575 per share on December 4, 2025 [11][10]
Expand Energy Corporation Reports Third Quarter 2025 Results