Company: EXEEZ
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0000895126-25-000021
Chunk: 83

Company: EXPAND ENERGY Corp
Filing Date: 2025-02-26
Form: 10-K
Item: Item 8
Chunk 83
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 continue to evaluate our unproved properties, and although the timing of the ultimate evaluation or disposition of the properties cannot be determined, we can expect the majority of our unproved properties not held by production to be transferred into the amortization base over the next five years.Costs Incurred in Natural Gas and Oil Property Acquisition, Exploration and DevelopmentCosts incurred in natural gas and oil property acquisition, exploration and development, including capitalized interest and asset retirement costs, are summarized as follows:Years Ended December 31,202420232022Acquisition of properties(a):Proved properties$10,010 $10 $2,321 Unproved properties4,393 52 795 Exploratory costs17 15 15 Development costs1,420 1,721 1,918 Costs incurred$15,840 $1,798 $5,049 ___________________________________________(a)    Includes $10.0 billion and $4.3 billion of proved and unproved property acquisitions, respectively, related to the Southwestern Merger in 2024. Includes $2.3 billion and $0.8 billion of proved and unproved property acquisitions, respectively, related to our Marcellus Acquisition in 2022.

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

Results of Operations from Natural Gas, Oil and NGL Producing Activities The following table includes revenues and expenses associated directly with our natural gas, oil and NGL producing activities for the periods presented. It does not include any derivative activity, interest costs or indirect general and administrative costs and, therefore, is not necessarily indicative of the contribution to consolidated net operating results of our natural gas, oil and NGL operations. Years Ended December 31,202420232022Natural gas, oil and NGL sales$2,969 $3,547 $9,892 Production expenses(316)(356)(475)Gathering, processing and transportation expenses(1,035)(853)(1,059)Severance and ad valorem taxes(97)(167)(242)Exploration(10)(27)(23)Depletion and depreciation(1,673)(1,478)(1,703)Accretion of asset retirement obligations(18)(16)(17)Imputed income tax provision(a)42 (152)(1,440)Results of operations from natural gas, oil