Company: EXEEZ
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0000895126-25-000021
Chunk: 85

Company: EXPAND ENERGY Corp
Filing Date: 2025-02-26
Form: 10-K
Item: Item 8
Chunk 85
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 elevation and the potential exists for an associated natural gas cap, proved oil reserves may be assigned in the structurally higher portions of the reservoir only if geoscience, engineering or performance data and reliable technology establish the higher contact with reasonable certainty. Reserves which can be produced economically through application of improved recovery techniques (including, but not limited to, fluid injection) are included in the proved classification when: (i) successful testing by a pilot project in an area of the reservoir with properties no more favorable than in the reservoir as a whole, the operation of an installed program in the reservoir or an analogous reservoir, or other evidence using reliable technology establishes the reasonable certainty of the engineering analysis on which the project or program 

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TABLE OF CONTENTSEXPAND ENERGY CORPORATION AND SUBSIDIARIESSUPPLEMENTARY INFORMATION - (Continued)

was based; and (ii) the project has been approved for development by all necessary parties and entities, including governmental entities.The information provided below on our natural gas, oil and NGL reserves is presented in accordance with regulations prescribed by the SEC. Our reserve estimates are generally based upon extrapolation of historical production trends, analogy to similar properties and volumetric calculations. Accordingly, these estimates will change as future information becomes available and as commodity prices change. These changes could be material and could occur in the near term.Presented below is a summary of changes in estimated proved reserves for the periods presented: Natural GasOilNGLTotal(Bcf)(MMBbl)(MMBbl)(Bcfe)December 31, 2024Proved reserves, beginning of period9,688 — — 9,688 Extensions, discoveries and other additions124 — — 124 Revisions of previous estimates(1,654)— — (1,654)Production(1,321)(1.2)(7.8)(1,375)Sale of reserves-in-place— — — — Purchase of reserves-in-place10,087 69.1 585.9 14,017 Proved reserves, end of period16,924 67.9 578.1 20,800 Proved developed reserves:Beginning of period6,363 — — 6,363 End of period14,418 40.3 383.0 16,958 Proved undeveloped reserves:Beginning of period3,325 — — 3,325 End of period(a)2,506