Company: EXEEZ
Filing Date: 2025-10-28
Form Type: 10-Q
Source: 0000895126-25-000098
Chunk: 58

Company: EXPAND ENERGY Corp
Filing Date: 2025-10-28
Form: 10-Q
Item: Part I, Item 1
Chunk 58
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 I of this report for further discussion of the fair value measurements associated with our derivatives.

Our natural gas, oil and NGL revenues during the Current Period, excluding any effect of our derivative instruments, were $5,371 million, $250 million and $550 million, respectively. Based on production, natural gas, oil and NGL revenue for the Current Period would have increased or decreased by approximately $537 million, $25 million and $55 million, respectively, for each 10% increase or decrease in prices. As of September 30, 2025, the fair value of natural gas and oil derivatives were net assets of $126 million and $3 million, respectively, and our NGL derivatives was a net nominal liability. A 10% fluctuation in forward natural gas prices would impact the valuation of natural gas derivatives by approximately $450 million. A 10% fluctuation in forward oil prices would impact the valuation of oil derivatives by approximately $1 million. A 10% fluctuation in forward NGL prices would impact the valuation of NGL derivatives by approximately $4 million. This fair value change assumes volatility based on prevailing market parameters at September 30, 2025. See Note 11 of the notes to our condensed consolidated financial statements included in Item 1 of Part I of this report for further information on our open derivative positions.

Interest Rate Risk

Our exposure to interest rate changes relates primarily to borrowings under our 2025 Credit Facility. Interest is payable on borrowings under the 2025 Credit Facility based on floating rates. See Note 4 of the notes to our condensed consolidated financial statements included in Item 1 of Part 1 of this report for additional information. As of September 30, 2025, we did not have any outstanding borrowings under our 2025 Credit Facility.

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ITEM 4.Controls and Procedures

Evaluation of Disclosure Controls and Procedures

We maintain disclosure controls and procedures designed to ensure that information required to be disclosed in reports we file or submit under the Exchange Act, is recorded, processed, summarized and reported within the time periods specified in SEC rules and forms, and that such information is accumulated and communicated to management, including our principal executive and principal financial officers, as appropriate, to allow timely decisions regarding required disclosure.

As of the end of the period covered by this report, we carried out an evaluation, under the supervision and with the participation of management, including our Chief Executive Officer and Interim Chief Financial Officer, of the effectiveness of the design and