Form 10-Q · Quarterly report
Expand Energy 10-Q, filed Jul 28, 2026
- Filed
- CIK
- 0000895126
- Accession no.
- 0000895126-26-000047
Summary
Expand Energy agreed to acquire Twin Eagle, a natural gas marketing and logistics provider, for approximately $1.25 billion, subject to regulatory approvals, with closing expected in the third quarter of 2026. The company also expanded its share repurchase authorization to $2.0 billion, repaid two senior note series, and appointed Chairman Michael Wichterich as interim president and CEO, replacing Domenic J. Dell’Osso Jr.
Key points
- Expand Energy signed a sales and purchase agreement with Delfin FLNG 1 LLC for about 1.15 MTPA of LNG at a Henry Hub-linked price with a targeted start in 2031; previously announced SPAs with Delfin and Gunvor Group Ltd were terminated.
- Fitch Ratings upgraded Expand Energy's revolver credit rating and senior notes from BBB- to BBB on May 6, 2026, while S&P has a BBB- issuer rating and Moody's has a Baa3 senior unsecured notes rating.
- Expand Energy declared a base quarterly dividend of $0.575 per share payable September 3, 2026, to stockholders of record on August 13, 2026.
- Expand Energy expects 2026 capital expenditures of about $2.75 billion to $2.95 billion and plans to complete and turn in line 205 to 235 gross wells using 11 to 12 rigs.
Written by an AI model from the filing text. It can be incomplete or wrong; the filing on SEC.gov is the record.
From the filing
ITEM 2. Management’s Discussion Recent Developments Twin Eagle Acquisition On July 24, 2026, we entered into an agreement and plan of merger with Twin Eagle, a provider of natural gas marketing and logistics services, and one of our wholly owned subsidiaries whereby we will acquire Twin Eagle. The transaction is subject to customary closing conditions, including certain regulatory approvals, and is expected to close in the third quarter of 2026. The purchase price is approximately $1.25 billion, subject to typical purchase price adjustments, including for working capital. …
An excerpt of the text as filed with the SEC, cut for length.
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