Company: EXEEZ
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0000895126-25-000021
Chunk: 78

Company: EXPAND ENERGY Corp
Filing Date: 2025-02-26
Form: 10-K
Item: Item 8
Chunk 78
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asis protection swaps279 (39)578 2 Total natural gas2,199 (49)1,479 687 Oil (MMBbls):Three-way collars2 $4 — $— Total oil2 4 — — NGLs (MMBbls):Fixed-price swaps7 $(9)— $— Total NGL7 (9)— — Contingent Consideration:Eagle Ford divestiture— 12 Total estimated fair value$(54)$699 

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

Effect of Derivative Instruments – Consolidated Balance SheetsThe following table presents the fair value and location of each classification of derivative instrument included in the consolidated balance sheets as of December 31, 2024 and 2023 on a gross basis and after same-counterparty netting:Gross Fair Value(a)Amounts Netted in the Consolidated Balance SheetsNet Fair ValuePresented in theConsolidatedBalance SheetsAs of December 31, 2024Commodity Contracts:Short-term derivative asset$191 $(107)$84 Long-term derivative asset6 (5)1 Short-term derivative liability(178)107 (71)Long-term derivative liability(73)5 (68)Contingent Consideration:Short-term derivative asset— — — Total derivatives$(54)$— $(54)As of December 31, 2023Commodity Contracts:Short-term derivative asset$661 $(36)$625 Long-term derivative asset101 (27)74 Short-term derivative liability(39)36 (3)Long-term derivative liability(36)27 (9)Contingent Consideration:Short-term derivative asset12 — 12 Total derivatives$699 $— $699 ___________________________________________(a)These financial assets (liabilities) are measured at fair value on a recurring basis utilizing significant other observable inputs; see further discussion on fair value measurements below.Fair ValueThe fair value of our commodity derivatives is based on third-party pricing models, which utilize inputs that are either readily available in the public market, such as natural gas, oil and NGL forward curves and discount rates, or can be corroborated from active markets or broker quotes, and, as such, are classified as Level 2. These