Company: EXEEZ
Filing Date: 2025-07-29
Form Type: 10-Q
Source: 0000895126-25-000084
Chunk: 37

Company: EXPAND ENERGY Corp
Filing Date: 2025-07-29
Form: 10-Q
Item: Part I, Item 1
Chunk 37
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MENTS - (Continued)(Unaudited)

June 30, 2025December 31, 2024Notional VolumeFair ValueNotional VolumeFair ValueNatural gas (Bcf):Fixed-price swaps296 $(37)369 $(28)Collars1,437 (176)1,098 (27)Three-way collars81 23 161 60 Call options (purchased)37 1 73 1 Call options (sold)147 (19)219 (16)Basis protection swaps320 22 279 (39)Total natural gas2,318 (186)2,199 (49)Oil (MMBbls):Three-way collars1 $5 2 $4 Total oil1 5 2 4 NGLs (MMBbls):Fixed-price swaps4 $— 7 $(9)Total NGL4 — 7 (9)Total estimated fair value$(181)$(54)The following table presents the fair value and location of each classification of derivative instrument included in the condensed consolidated balance sheets as of June 30, 2025 and December 31, 2024 on a gross basis and after same-counterparty netting:Gross Fair Value(a)Amounts Netted in the Condensed Consolidated Balance SheetsNet Fair Value Presented in the Condensed Consolidated Balance SheetsAs of June 30, 2025Commodity Contracts:Short-term derivative asset$138 $(92)$46 Long-term derivative asset39 (26)13 Short-term derivative liability(247)92 (155)Long-term derivative liability(111)26 (85)Total derivatives$(181)$— $(181)As of December 31, 2024Commodity Contracts:Short-term derivative asset$191 $(107)$84 Long-term derivative asset6 (5)1 Short-term derivative liability(178)107 (71)Long-term derivative liability(73)5 (68)Total derivatives$(54)$— $(54)___________________________________________(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. 

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Table of ContentsEXPAND ENERGY CORPORATION AND SUBSIDIARIESNOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS - (Continued)(Unaudited