The company said operating cash flow for the Current Period fell to $761 million from $1,404 million in the Prior Period. It cited lower natural gas sales prices, reduced sales volumes from the Eagle Ford divestitures, and planned production curtailments and activity deferrals as factors.

1. 01

   The company said operating cash flow for the Current Period fell to $761 million from $1,404 million in the Prior Period. It cited lower natural gas sales prices, reduced sales volumes from the Eagle Ford divestitures, and planned production curtailments and activity deferrals as factors.

2. 02

   The company said on January 10, 2024 that it entered into an all-stock merger agreement with Southwestern, under which each Southwestern common share would receive 0.0867 shares of its common stock. It said shareholders of both companies approved the deal on June 18, 2024, and that closing is targeted for the second half of 2024.

3. 03

   Expand Energy said it had $3.5 billion of liquidity as of June 30, 2024, consisting of $1.0 billion in cash on hand and $2.5 billion of unused borrowing capacity under its Credit Facility, and had no outstanding borrowings under the Credit Facility. The aggregate commitments under the Credit Facility were increased from $2.0 billion to $2.5 billion on April 29, 2024.

4. 04

   The company said it plans to drill approximately 95 to 115 gross wells in 2024 across 7 to 9 rigs and to invest between $1.2 and $1.3 billion in capital expenditures. It said dividend payments were $176 million in the Current Period, and it did not repurchase any shares during the same period.

Key figures

Quarter ended June 30, 2024

Revenue

$505M

Operating income

−$294M

Net income

−$227M

EPS

−$1.73

Analysis scope · Management's discussion (MD&A)We analyzed the Management's Discussion and Analysis (MD&A) section. Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.