Company: EXEEZ
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0000895126-25-000021
Chunk: 164

Company: EXPAND ENERGY Corp
Filing Date: 2025-02-26
Form: 10-K
Item: Item 1
Chunk 164
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 net revenue, PV-10 nor the standardized measure are intended to represent the current market value of the estimated natural gas, oil and NGL reserves we own. All of our estimated reserves are located within the United States.

December 31, 2024Natural GasOilNGLTotal(Bcf)(MMBbl)(MMBbl)(Bcfe)Proved developed14,418 40.3 383.0 16,958 Proved undeveloped2,506 27.6 195.1 3,842 Total proved(a)16,924 67.9 578.1 20,800 

Proved DevelopedProved UndevelopedTotal ProvedStandardized measure(b) $7,531 Estimated future net revenue(b)$10,620 $3,049 $13,669 Present value of estimated future net revenue (PV-10)(b)$6,519 $1,048 $7,567 

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(a)    Haynesville, Northeast Appalachia and Southwest Appalachia accounted for approximately 19%, 39% and 42%, respectively, of our estimated proved reserves by volume as of December 31, 2024.

(b)    Estimated future net revenue represents the estimated future revenue to be generated from the production of proved reserves, net of estimated production and future development costs, using pricing differentials and costs under existing economic conditions as of December 31, 2024, and assuming commodity prices as set forth below. For the purpose of determining prices used in our reserve reports, we used the unweighted arithmetic average of the prices on the first day of each month within the 12-month period ended December 31, 2024. The price used in our PV-10 measure was $2.13 per Mcf of natural gas and $75.48 per Bbl of oil and NGL, before basis differential adjustments. These prices should not be interpreted as a prediction of future prices, nor do they reflect the value of our commodity derivative instruments in place as of December 31, 2024. The amounts shown do not give effect to non-property-related expenses, such as corporate general and administrative expenses and debt service, or to depreciation, depletion and amortization. The present value of estimated future net revenue typically differs from the standardized measure because the former does not include the effects of estimated future income tax expense of $36 million as of December 31, 2024.

Management uses PV