Expand Energy

Expand Energy Corporation operates as the largest independent natural gas producer in the United States based on net daily production. The company's website is expandenergy.com. Expand Energy was formed through the October 2024 merger of Chesapeake Energy Corporation and Southwestern Energy Company, creating a premier energy company focused on responsibly developing natural gas, oil, and natural gas liquids to expand energy access.

The company's operations span three primary geographic regions: the Haynesville and Bossier Shales in Louisiana and Texas, the Marcellus Shale in Pennsylvania, and the Marcellus and Utica Shales in Ohio and West Virginia. As of December 31, 2025, Expand Energy held working interests in approximately 6,600 gross natural gas and oil wells, with substantially all classified as productive natural gas wells. The company operates approximately 99 percent of its current daily production volumes.

Expand Energy's proved reserves totaled 25,880 billion cubic feet equivalent as of December 31, 2025, comprising natural gas, oil, and natural gas liquids across developed and undeveloped categories. The Haynesville, Northeast Appalachia, and Southwest Appalachia regions accounted for approximately 23 percent, 42 percent, and 35 percent of proved reserves by volume, respectively. During 2025, the company completed 272 gross wells as operator and participated in 39 additional wells completed by other operators.

The company's business strategy centers on creating resilient shareholder value through responsible resource development while serving as a leading natural gas provider to growing markets. Operations emphasize improving margins through operating efficiencies, marketing and commercial efforts, and financial discipline alongside enhanced safety and sustainability performance. Expand Energy also operates drilling rigs and provides oilfield products and services through vertical integration, principally serving its exploration and production operations.

The company maintains long-term gathering, processing, and transportation contracts requiring delivery commitments of approximately 7,800 billion cubic feet of gas and natural gas liquids over the next two decades. Expand Energy competes with major integrated and independent natural gas and oil companies across exploration, development, production, and marketing activities.