Company: EXEEZ
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0000895126-25-000021
Chunk: 80

Company: EXPAND ENERGY Corp
Filing Date: 2025-02-26
Form: 10-K
Item: Item 8
Chunk 80
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 at cost654 497 Less: accumulated depreciation(127)(90)Total other property and equipment, net$527 $407 ___________________________________________

(a)These assets were acquired as a result of the Southwestern Merger. See Note 2 for further discussion of this transaction.  

15.Investments

Momentum Sustainable Ventures LLC. During the fourth quarter of 2022, the Company entered into an agreement with Momentum Sustainable Ventures LLC to build a new natural gas gathering pipeline and carbon capture project, which will gather and treat natural gas produced in the Haynesville Shale for re-delivery to Gulf Coast markets, including LNG export. The pipeline is expected to have an initial capacity of 1.7 Bcf/d expandable to 2.2 Bcf/d. The carbon capture portion of the project anticipates capturing approximately 1.0 million tons per annum of CO2 and delivering the CO2 to ExxonMobil Low Carbon Solutions Onshore Storage, LLC for additional transportation and storage. The natural gas gathering pipeline is projected for a potential in-service date in the fourth quarter of 2025. We have a 35% interest in the joint venture entity. We have accounted for this investment as an equity method investment, and its carrying value, which is reflected within other long-term assets on the consolidated balance sheets, was $307 million and $238 million as of December 31, 2024 and December 31, 2023, respectively. As of December 31, 2024, the carrying value of our investment included approximately $17 million of capitalized interest related to the project. 

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TABLE OF CONTENTSEXPAND ENERGY CORPORATION AND SUBSIDIARIESNOTES TO CONSOLIDATED FINANCIAL STATEMENTS – (Continued)

16.Asset Retirement ObligationsThe components of the change in our asset retirement obligations are shown below:Years Ended December 31,20242023Asset retirement obligations, beginning of period$276 $335 Additions(a)263 9 Revisions(b)(21)(9)Settlements and disposals(c)(5)(75)Accretion expense18 16 Asset retirement obligations, end of period531 276 Less current portion32 11 Asset retirement obligations, long-term$499 $265 ___________________________________________(a)    During the year ended December 31, 2024, approximately $251 million of additions relate to the Southwestern Merger. See Note 2 for further