Press release
Expand Energy Corporation Reports First Quarter 2025 Results
OKLAHOMA CITY, April 29, 2025 (GLOBE NEWSWIRE) -- Expand Energy Corporation (NASDAQ: EXE) (“Expand Energy” or the “Company”) today reported first quarter 2025
About this update from Expand Energy Corporation
[{"type":"text","content":"OKLAHOMA CITY, April 29, 2025 (GLOBE NEWSWIRE) -- Expand Energy Corporation (NASDAQ: EXE) (“Expand Energy” or the “Company”) today reported first quarter 2025 financial and operating results. Net cash provided by operating activities of $1,096 millionNet loss of $249 million, or $1.06 per fully diluted share; adjusted net income(1) of $487 million, or $2.02 per shareAdjusted EBITDAX(1) of $1,395 millionProduced approximately 6.79 Bcfe/d net (92% natural gas)Added to the S&P 500, effective March 24, 2025Upgraded to Investment Grade credit rating by Moody’s (Baa3); achieved uniform Investment Grade rating from all rating agenciesQuarterly base dividend of $0.575 per common share to be paid in June 2025, 17th straight quarter of paying a dividendOn track to capture approximately $400 million in 2025 synergies, with the total target of $500 million in annual synergies expected to be achieved by year end 2026 (1) Definitions of non-GAAP financial measures and reconciliations of each non-GAAP financial measure to the most directly comparable GAAP financial measure are included at the end of this news release. “Overcoming market volatility requires a resilient financial foundation, a deep market-connected portfolio, and low cost, efficient operations, all hallmarks of our strategy,” said Nick Dell’Osso, Expand Energy’s President and Chief Executive Officer. “We continue to execute our business, utilizing our productive capacity to navigate today’s dynamic macro environment and be prepared to efficiently respond as market conditions change.” Operations Update Expand Energy operated an average of 11 rigs during the first quarter, drilling 46 wells and turning 89 wells in line, resulting in net production of approximately 6.79 Bcfe per day (92% natural gas). A detailed breakdown of first quarter production, capital expenditures and activity can be found in supplemental slides which have been posted at https://investors.expandenergy.com/events-presentations. 2025 Annual Synergy, Capital and Operating Outlook In 2025, Expand Energy expects to run approximately 12 rigs and invest approximately $2.7 billion yielding an estimated daily production of approximately 7.1 Bcfe/d. The Company intends to build incremental productive capacity for an additional $300 million by exiting 2025 with approximately 15 rigs. This incremental capital investment...